March 7, 2014
Live Nation has sold the Capitol Music Hall to a Wheeling dentist who vows to reopen it by October.
Dr. Manny Velez says he and two partners, Theresa and Jim Childers of Bellaire, Ohio, have signed an agreement to purchase the theater.
Beverly Hills, California-based promotion company Live Nation closed the Wheeling landmark in May because of costly fire code violations.
Real estate agent Carl Nix has said Live Nation was seeking $850,000 for the theater. Velez says he and his partners aren't paying that much, but wouldn't say what the purchase price is.
Velez says he expects the deal to close sometime in September.
Wheeling City Councilman Barry Crow has estimated that renovating the building and bringing it into compliance with the city's fire code would cost between $3 million and $5 million. Velez says he doesn't believe the work will cost that much.