Schubas, Lincoln Hall Sold

Former co-owner Mike Schuba will stay on board as chief operating officer for the clubs, according to the Chicago Tribune, where Chris Schuba has taken a job in the advertising department.

Terms of the deal weren’t disclosed, but Chris Schuba told the Tribune that retention of the 70 staffers between the clubs was “essential” to making what the paper described as a multimillion-dollar deal.

“I am extremely honored, excited, and fortunate to have the opportunity to now own two of the best music venues in the country,” Audiotree owner Michael Johnston said in a statement. “My goal as the new owner is to continue to carry on and grow the legacy that the Schuba brothers have worked so hard to develop over the course of almost three decades.”

Talent buyer Matt Rucins, who will continue in that position, added that “the big story” is that Chris Schuba will be leaving the business after 26 years as one of Chicago’s top promoters.

Mike Schuba told the Tribune that he and Chris “agreed with each other that it was a good time to sell. He’s older than me and was ready for a change to be out of the business” and pursue other interests.

The new owners will run the business as Audioleaf Schubas Operating LLC and Audioleaf Lincoln Operating LLC.

Audiotree is known in the area for an in-studio concert series, “Audiotree Live,” and is involved with artist management and promotion.

“My intention is to provide Schubas and Lincoln Hall with more resources,” Johnston told the Tribune, adding that he hopes to expand concert live-streaming at both clubs.