The Rapids Theatre, a renowned concert venue in Niagara Falls, has been listed for sale for $3 million after an order of foreclosure earlier in the year. The venue was listed by Hunt Commercial Real Estate in October due to the owner's wish to retire.
The theatre was established in 2009 by John Hutchins and is located at 1711 Main St. Despite the recent financial challenges, the theatre has continued its operations. Notably, it recently hosted performances by The Strictly Hip and Colt Ford, and a concert by From Ashes to New is due in mid-December.
During the global pandemic, the business struggled to keep up with mortgage payments which eventually resulted in a foreclosure filing by Niagara’s Choice Federal Credit Union in January. The credit union is seeking to recoup the principal sum and interest totalling $1.536 million from a mortgage secured in 2016.