Constructed in 1926 by Rapp and Rapp, the Limestone, Art Deco exterior and French Renaissance interior made the building a Madison icon, with the Orpheum sign towering over State Street. Partially financed by dentist William Beecroft, also known as "Mr. Theater," the Orpheum cost $750,000 to build. The Orpheum Theater first opened its doors on March 31, 1927. Originally built as a vaudeville venue and a movie theater, The Orpheum Theater was also the first building in Wisconsin to have air conditioning. In 2013, after the theater had spent years in disrepair, the Gus Paras family bought the building and lovingly restored the theater to its former glory. Currently, exclusively booked and operated by Live Nation, The Orpheum Theater hosts regular concerts, stand-up comedy shows, weddings and events.