The historic EL Rey Theatre may be up for sale according to a real estate website.

The theatre located in downtown Chico, has a reported potential buyer who is considering plans of turning the building into a spot for commercial and residential use. The asking price for the theatre is listed at $1.4 million.

The El Rey has been a part of Chico since 1905 and survived a fire in 1946. The theatre is also on Chico’s Historic Resource Inventory list created by California.

The Orion will follow this story as it develops.

George Johnston can be reached at [email protected] or @gjohnston786 on Twitter.