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Eclipse Theater Downtown Up For Sale

The Eclipse Theater in downtown Las Vegas faces a foreclosure sale next week. The theater is still open for business but the three story building is up for sale for $12 million as an investment property. The theater opened in December of 2016. Developer Nic Steele and his companies have reportedly defaulted on a $7.5 million construction loan and have also faced litigation over other financial matters related to the property. Reports say that the theater, while doing decent business, has not done the numbers that the developer expected, leading to the financial difficulties.