NAPERVILLE (WBBM NEWSRADIO) -- Costco is expected to open a second location in Naperville at the Ogden Mall shopping center.
The new warehouse would inhabit the former K-Mart and replace Ogden 6 Theatres, which has been at that location since 1995.
Chris Johnson is CEO of Classic Cinemas and owner of Ogden 6.
While he hasn't received official notice from his landlord, he says the business deal has been transparent.
"I just asked them, and they were honest about it and said 'Yeah, but it's not finalized,’” Johnson said Monday. "If it goes through, we're gone."
Despite major renovations in 2018, a 40 percent increase in profits last year and Johnson's frequent requests to expand, the theater's future was never secure.
"We always had a six-month-out lease, but if something better came along they could kick us out."
If the Costco deal goes through, Ogden 6 will close, but Classic Cinemas is currently working with the Naperville Development Partnership to pursue a new location.
"I've had some sleepless nights, and hopefully I will figure something out," added Johnson.
In the meantime, the City of Naperville is negotiating a potential sales-tax rebate to limit the cost of Costco demolishing some mall buildings.
The proposed incentive will be discussed during a city council meeting on Tuesday, February 18 at 7 p.m.