Housed in a 10,000 m2 building, and located on the shores of Llanquihue Lake, the Teatro del Lago includes the 1,178 capacity Espacio Volcán Tronador – Sala Nestlé concert hall; an amphitheater, seating 270, and a range of other multipurpose salons and foyers, exhibition areas, rehearsal spaces, conference rooms and congress halls.

[3] Every year, between late January and early February, the Teatro del Lago hosts its main event, the biggest Chilean classical music festival: the Semanas Musicales de Frutillar (Frutillar musical weeks).

[5] Architects Geradro Köster and Gustavo Greene began construction on January 27, 1998 with financial support from Schiess.

The Asian Financial Crisis of 1997 impacted his finances, which, in turn, caused the theater's construction to be modified.

[5] In 2008 a new set of architects from Amercanda - Bernd Haller, Cristián Valdés, Pablo Cordua y Andrés Alvear - were added to the project to build with better acoustic materials.