Crain's Chicago Real Estate Daily.com is reporting that a group including local concert promoters Jam Productions was the only -- hence, the successful -- bidder at today's scheduled foreclosure sale of the Uptown Theatre, winning the property with a bid of $3.2 million.

The sale must still be approved by the foreclosure court -- and Jam has said it will need city assistance to renovate the beautiful but crumbling venue. The city, meanwhile, has given indications that it would prefer that national concert giant Live Nation restore and program the venue. Stay tuned.