The film society will hold one last screening at the Patio on Wednesday of Joseph Losey's rarely-seen remake of "M" from 1951, in a new 35mm print from The Library of Congress.
"The theater might be a bit nippy on Wednesday night, but 'M' will make you shiver for totally different reasons," the film society wrote on its Facebook page.
Rebecca Hall, executive director of the film society, could not immediately be reached for comment.
Starting with the Nov. 17 screening of Mitchell Leisen's 1943 "No Time for Love," the film society will hold its screenings at the Gene Siskel Film Center, 164 N. State St., according to its website.
Demetri Kouvalis, whose family has owned the former movie palace at 6008 W. Irving Park Road since 1987, did not return a phone message.
The theater was closed to regular shows during the summer because the theater's air conditioning was broken, but reopened to accommodate the film society, which found itself locked out of the Portage Theater when owner Eddie Carranza shuttered it as part of a dispute with Ald. John Arena (45th).
The theater re-opened to regular shows in September, with a new business plan focused on classic films, the film society and special events such as parties or independent film premieres.
Kouvalis had been working with city officials to obtain a Small Business Improvement Fund Grant to cover the cost of replacing the air conditioning system, which he said will cost at least $40,000 to $50,000.