[2] Situated on Santa Fe Avenue in Barrio Norte,[3] the building was designed by architects Peró and Torres Armengol[4] for impresario Max Glücksmann (1875-1946), and opened as a theatre called Teatro Gran Splendid in May 1919.

The theatre had a seating capacity of 1,050, and staged a variety of performances, including appearances by the tango artists Carlos Gardel, Francisco Canaro, Roberto Firpo and Ignacio Corsini.

Following refurbishment works, the 2,000 m2 (22,000 sq ft)[7] El Ateneo Grand Splendid became the group's flagship store, and in 2007 sold over 700,000 books; over a million people walk through its doors annually.

Customer seating has been installed throughout the building, including the still-intact theatre boxes, and a café has been created at the back of what was once the stage.

[8] The Guardian, a prominent British periodical, named El Ateneo Grand Splendid second in its 2008 list of the world's ten best bookshops.