Developer has big plans for former Regal Cinema in Round Lake Beach
A Texas-based developer wants to repurpose the empty, fire-scarred Regal Cinemas in Round Lake Beach to a family entertainment center.
The proposal by Thakkar Developers of McKinney, Texas, envisions seven movie screens, a full-service restaurant, games and other activities at the former theater, 550 E. Rollins Road, just south of the village municipal complex.
Regal in Round Lake Beach was among 39 U.S. locations closed in early 2023 by parent company Cineworld Group, which had filed for bankruptcy.
Thakkar bought the freestanding theater in the Rollins Crossing shopping center at auction, according to Gil Rivera, the village's economic development director.
“We spoke to them immediately after they won the auction,” Rivera said. “We're very pleased with the new owners and they're very receptive.”
The company was attracted to the village due to a combination of factors including a strong market analysis, village support of the concept and proximity to other customer generating attractions, according to Poorvesh Thakkar, one of the owners.
Thakkar acquired the theater at the end of 2023 but plans were delayed and construction plans revised because of an arson fire in April 2024 that severely damaged parts of the building, including the screens and projector rooms, Poorvesh Thakkar said.
As announced this week by the village, the 72,000-square-foot entertainment center also would feature ax throwing, space for meetings and parties and potentially a multilevel indoor electric Go-Kart track.
Final plans were expected to be submitted this summer with an anticipated grand opening in 2026.
“When this facility opens, it will offer something for everyone and truly be a major draw for Round Lake Beach, attracting not only residents from our village but visitors from across Lake and McHenry counties,” Mayor Scott Nickles said.
According to the company, Thakkar has major ongoing developments in Dallas including single and multifamily homes, office and retail and entertain, entertainment centers.
According to the village, this project is Thakkar’s second family entertainment center concept and will be modeled after one under construction in a former theater in Irving, Texas. Round Lake Beach officials toured that facility and were said to be impressed by the concept and potential for success.
Rivera said this project with the addition of new restaurants in development is a continuation of the village’s vision to enhance an “already vibrant retail and entertainment corridor.”