In 2023, a new workshop chamber stage space of the theater was opened in the building of a historic electrical substation on Lesi Ukrainky Street.

On 30 May 1904, Hermann Helmer arrived in Chernivtsi, from whom the final version of the project was purchased, with an estimated construction costs of 600,000 kronen.

In January 1922, organized by the local administration, a group of young Romanian chauvinists disrupted a performance of an Austrian actor Aleksandër Moisiu, who was touring in Chernivtsi.

The youths tore down the German inscriptions, hung up the Romanian tricolor, and forced the actors and the audience to move into the building of the Chernivtsi Music Society.

In December 1940, by the decision of the Council of People's Commissars of the Ukrainian SSR, the creative team of the Kharkiv State Theatre of the Revolution was permanently relocated to Chernivtsi.

[7] In 2023, a new workshop stage, oriented at smaller scale experimental plays, was opened in the nearby building of the Austrian era electrical substation.

[10] Chernivtsi Theatre is a three-story baroque revival building and the dominant element of an architectural ensemble of city's Teatralna Square.

The avant-corps of the building has four decorative columns and ends with a pediment on which a relief shield of the city coat of arms is installed.

Busts of prominent German dramatists are installed in niches on the side elevations, along with stucco moldings in the form of coats of arms of Austrian cities.

On the north (right) side, busts of Ludwig van Beethoven, Joseph Haydn, Johann Wolfgang von Goethe and Taras Shevchenko are placed; from the south (left) side, busts of Wolfgang Amadeus Mozart, Friedrich Schiller, Franz Schubert and Alexander Pushkin (removed in 2022[11]).