Mayor Rahm Emanuel and his nonprofit the Chicago Infrastructure Trust (CIT) were set to take on restoration of the Uptown Theater, but the plan fell apart, according to Crain’s Chicago Business.

In 2015, CIT, which funds public-private projects in Chicago, was poised to buy the Uptown Theater from Jam Productions, according the report. The purchase would have allowed the theater to be converted into a nonprofit, opening doors for more funding opportunities.

The CIT would have had to approve the purchase and its funding, but Emanuel replaced the entire CIT staff, according to the report. As a result, the plan was never executed.

If restored, the 4.500-seat Uptown Theater could help create an Uptown entertainment district with the nearby Aragon Ballroom, Green Mill, and Riviera Theater, according to the report.

The fate of the theater is now uncertain, although people like Ald. James Cappleman (46th Ward) are holding out hope that the Uptown can be saved. But, time is limited — The Uptown has been shuttered for almost two decades.

"If this isn't resolved soon, this building will continue to deteriorate," says Ward Miller, executive director of Preservation Chicago, Crain’s Chicago Business reports.