Goodbye to the Lake Street Screening Room

From Critics’ Cocoon to Luxury Heights: How Downtown Chicago is Rewriting Its History

Downtown Chicago is constantly evolving, shedding old skin to embrace a glossy new future. Just when one expects another glass tower or high-end condo development, a landmark building is undergoing a transformation that blends history with luxury. The 99-year-old office building at 70 E. Lake Street in the Loop, for example, is set to be reborn as approximately 170 luxury apartments.

This isn’t just another real estate deal; it’s a fascinating chapter in the city’s narrative. While the exterior may change, the story of this building holds a deeply personal and unique history that deserves reflection, particularly for those who remember how downtown Chicago once functioned as a cultural epicenter.

For decades, 70 E. Lake Street was more than just brick and mortar; it housed a legendary space known as the Lake Street Screening Room. This wasn’t merely a theater; it was a vibrant nexus where the city’s film critics, news personalities, and industry figures gathered to discuss the magic of cinema.

It was the unofficial headquarters for cinephiles—a place where giants like Roger Ebert and Gene Siskel would sit and dissect films. Here, critics from the Chicago Sun-Times, the Tribune, and various media outlets, along with TV and radio producers, would congregate for advance screenings. It was a sophisticated environment built on shared passion.

The experience inside was wonderfully unique. Far from the glamour of the street outside, this screening room offered an intimate, immersive cocoon. Commuters and tourists hurried past, unaware that on the 16th floor, a small group was lost in the soothing darkness, absorbing the latest cinematic masterpieces. It was a place where opinions flowed freely, marking an unspoken agreement: silence reigned until the shared experience was complete.

The structure itself held remarkable details. You could access this hidden gem by navigating past storefronts, taking an elevator to the 16th floor, and stepping into a space that felt both nostalgic and cutting-edge. Despite having décor straight out of the 1980s, the viewing experience maintained state-of-the-art sound and picture quality.

The screening room was also more than just a place for watching movies; it was a unique workplace. It shared space with offices housing administration for organizations like the Joffrey Ballet and legal aid groups. Imagine a critic needing a break—they could step into an adjacent office bathroom and hear a quote from Tom Hanks echoing through the speakers, or a dramatic cry from a horror film, blurring the line between work and life.

The legacy of this venue was cemented by the expertise of those who ran it. Steve Kraus, who managed the facility for nearly four decades, ensured that every film felt special. He transformed the experience from viewing reels to ingesting movies onto servers, demonstrating a commitment to quality that transcended simple entertainment.

Today, the building faces another major transition, standing alongside other historic Chicago addresses—like the former homes of newspaper titans and media outlets—as it prepares for its next chapter as luxury residences. While some ask if such a space will be replicated in the future, Kraus remains pragmatic, noting that running a single cinema is challenging financially.

Ultimately, whether it’s watching film or watching the city transform, what endures is the ability to find a special place—a space filled with history, shared experience, and a touch of magic. The new luxury apartments will offer views of the modern skyline, but the memory of that historic screening room remains an unforgettable piece of downtown Chicago’s story.