Due to the decline in popularity of vaudeville, the Pastime closed its doors before the end of the decade, becoming a warehouse for the Michigan Aircraft Company during World War I.

Weeks earlier, explosions also took place at two other Grand Rapids theatres, with bombs planted in their ticket offices.

The building stood empty and decaying for more than 25 years before the South East Economic Development neighborhood association launched a capital campaign to fund its restoration.

[4] In 2005 Wealthy Theatre was acquired by the Grand Rapids Community Media Center, a non-profit organization operating the local public-access cable TV channel, GRTV, as well as community radio station 88.1FM WYCE, and The Rapidian, an online citizen journalism platform.

The auditorium is named after its main benefactor, Peter Wege of Steelcase, a furniture manufacturer founded in the city.