A judge approved the sale of the church for $2.5 million to Universal Life Church. Holy Trinity will now have 75 days to relocate.
Many parishioners waited with bated breath to see what came from the hearing that started just after 11 a.m.
The Northwest side church's future hung in the balance after severe financial issues put it on the verge of closing for good.
Some worshippers see a sign from God after a caretaker at the church saw what looked like tears pouring from the Virgin Mary's eyes.
Holy Trinity is the second oldest Greek Orthodox Church in the country and the oldest in the Midwest.
It reached this point, after church officials said a bank rejected a loan request after the church was not able to secure the $1.6 million in pledges needed to save it.
As the fate of the church was being discussed, officials have been investigating an apparent miraculous phenomenon.
On Sunday worshippers at the church noticed a shocking sight in what looked like tears pouring from the Virgin Mary's eyes.
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"There's something she's trying to tell us, so we're just going to seal our lips and listen to what she has to say," said Father Nick Jonas.
Monday the residue of the oil-like substance streaming from the Virgin Mary's eyes remained, with many believing the oil has healing properties and that its origins are a blessing from God.
"I can't explain why she is tearing, but I do know as human beings we are usually crying for two reasons: either joy or sorrow," Fr. Jonas said.
A steady stream of visitors have been visiting the icon as well; about 300 people Sunday, according to the secretary of the church, and even more Monday. A nun from California traveled across the country to see the weeping icon in person as well.
"It's the type of thing you never forget and I always will be inspired by [it]," said Mother Angelina.
For the last year, the church has been fighting to remain at the corner of West Diversey Avenue and North Meade Avenue in the city's Belmont Central neighborhood. Holy Trinity avoided foreclosure late last year after a generous anonymous donation, but an issue with the money arose and forced the church to go up for sale again.
"Some people have come up to me and said, 'We'll mortgage our homes,'" said Stanley Andreakis, President of parish council.
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"We are hoping that we will relocate perhaps not immediately, but we are hopeful that something good will come out of this," Fr. Jonas said.