Located in Chicago Loop, the theater is an honorable Private Bank theater with history. It was built in 1906 and called the Majestic Theater, which specializes in waterproof emissaries for upscale clientele. After being owned for a while by the Orpheum chain, it was shut down in 1932 due to the Great Depression. It was then reopened in 1945 and was named the Sam Shubert Theater after it was purchased by the Shubert Organization. A few musicals were performed at the PrivateBank Theater over this period, two of which was “A Chorus Line” and “the South Pacific”. In 1991, the ownership of PrivateBank Theater changed again, this time becoming a branch of the Nederlander organization and Broadway in the division of Chicago. The theater was reconstructed within 2005-2006 and renamed The LaSalle Bank Theatre after astonishing performances by Cabaret, The Goodbye Girl and Spamalot. After about 2 years, the theater was renamed again to Bank of America Theatre before being finally renamed to its present name in late 2015. Kinky Boots, Cabaret and The Book of Mormon are the recent performances at the PrivateBank Theatre. During the reconstruction between 2005–2006, elevators were finally installed within the theater. Before the installations of the elevator, only the office building had elevators. Customers had to leave the theater and use the elevators in the office buildngs to reach the balcony. As part of the reconstruction process of the theater, the theater was repainted and paint chips were analyzed in what was believed to be the original color scheme. Almost all original fixtures, like the mosaic floor installed in the lobby when the theater built in 1906, remain. A hidden archway along the lobby concession space was also exposed during the reconstruction. This elaborately decorated arch had been behind the walls and forgotten for years until construction began. The theater now has 1,800 seats.
After the Iroquois Theater, the PrivateBank Theatre was the first theater built in Chicago and thus, it was specially cited for its fire safety. The PrivateBank Theatre was constructed in such away that the patrons on the ground level are not able to see the patrons above them.
Ever since, the theater has been an abode for numerous World premieres and pre-Broadway tours. In May 24, 2006, popular act Michael Crawford performed a concert in the opening night of the newly restored theater. The popular musical movie “High School Musical” was also premiered at the PrivateBank theater in July 2007 during its pre-Broadway tour. In October 2007, Jersey Boys started their 28-month career run at the theater, it was then followed by Cyndi Lauper’s Kinky Boots at the pre-Broadway premiere in October and November 2012. It was organized in the organization of the Liburn Festival for the Book of Mormon from 19 December 2012 and then from March 6, 2013. The 2015 Gotta Dance Music Awards and choreography for Jerry Mitchell and Par Parley Engel, Stefanie Powers, Lillias White, and Andre Deshields began at the theatre on March 2015.