By CBS 2 Chicago Staff

CHICAGO (CBS) — Chicago’s legendary Second City comedy club is up for sale.

This is the theater’s second sale in the company’s 60-year history.

In a statement, longtime co-owner Andrew Alexander said the sale will allow opportunity for Second City’s continued success.

Second City is located at 1616 N. Wells St. in Old Town. It is known as a training ground for stars such as Stephen Colbert, John Belushi, and Tina Fey.

The comedy club suspended all shows and in-person classes in March because of COVID-19.

In June, Alexander stepped down as chief executive officer of Second City amid accusations of institutional racism. In a letter posted on the Second City website, Andrew Alexander said he failed to create and “anti-racist environment.”

Alexander’s resignation came after actor Dewayne Perkins said the company created obstacles for performers of color. Alexander also said in his letter the next executive director of Second City will be a person of color.