Paras takes control of Orpheum

Prior to a scheduled foreclosure sale, Madison business owner Gus Paras paid off the Orpheum Theater’s mortgage of $1.5 million, effectively purchasing its deed. As a result, Paras and business partner, friend, and former Orpheum owner Henry Doane now own the theater. Paras, owner of the Comedy Club on State and other downtown properties, will reportedly spend $1 million on renovations to bring concerts, films, and events back to the site. Frank Productions of Madison, which had been scheduling concerts at the theater since it went into foreclosure last September, had planned to bid on the theater but was preempted by Paras’ move.