In 2006, the exterior was extensively secured and terra cotta pieces were cataloged and stored for future restoration efforts. A May 21, 2007 article in Crain's Chicago Business described the Uptown Theatre as "suddenly a hot property," as three national entertainment companies were in competition to purchase, restore and reopen the Uptown Theatre.
It was purchased through a judicial sale July 29, 2008 by JAM Productions for $3.2 million and finalized in court on August 18, 2008. It is estimated it will take about $40 million to get it ready for use again. JAM currently also owns the Riviera Theatre also on Broadway, approximately one block away.