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Is the bottom falling out for the latest batch of yahoos trying to run the Chicago Theatre? There were lots of clues to that effect on Thursday, starting with the closed-door meeting between the city and the landlord, Chicago Theatre Preservation Associates. Theater operators weren`t taking-or returning-calls. Patrons trying to buy tickets at the box office were told to go to another Ticketmaster outlet because ”the computer has been down since Monday.” Ticketmaster execs said the computer system was working fine and were trying to find out for themselves what was going on . . . but they couldn`t get their calls returned either. Is this a great country or what?

Where else could a government-subsidize d $20 million-plus operation be run by people that could mess up a tattoo parlor on a naval base?

HORSE SENSE . . .

. . . means a lot of hay, especially if you used to be a member of Gov. Jim Thompson`s administration. Take the $75,000 no-bid contract-for two months of work this summer-that Department of Commerce and Community Affairs Director Jay Hedges handed to Michael Jones, former head of the Illinois State Lottery. Hedges called the fee for the contract (to develop a marketing and ad campaign for the horse-racing industry) ”a bargain.” And he added that Jones will likely land the contract on the follow-up advertising budget-as much as $2 million in the next fiscal year. Expect at least one state official, state Comptroller Roland Burris, to feel his oats and nay-say this one.

BUTTON UP . . .

Ever since George Bush uttered his contempt for ”card-carrying” members of the American Civil Liberties Union, Chicago`s ACLU chapter has been inundated with inquiries. Some of the callers are phoning to ask just what the heck George meant, but others-die-hard ACLU fans-were looking for a way to stick it back to George. And that`s why lapel buttons are popping up around town, identifying folks as ”card-carrying” ACLU members. Beware the dreaded defenders of civil rights.

QUAYLE FLIGHT . . .

After Republican veep candidate Dan Quayle makes his stop in Chicago next Thursday, he`ll jet down to Springfield. He missed an appearance there at the Illinois State Fair with George Bush after the GOPers national convention when he was whisked off to Washington for candidates` training school.

NO BIZ LIKE SHOW BIZ . . .

A photographer was following NBC`s Connie Chung around at the political conventions for an upcoming feature in Vanity Fair. . . . Rob Cameletti`s not the only man interested in Cher. Jack Nicholson reportedly has told ”Batman” producers Peter Guber and Jon Peters he`d like her to play the villainess in the movie (Jack`s playing the Joker), and Public Theater`s Joe Papp wants her for a Shakespeare play-particularly ”Antony and Cleopatra.” . . . Sam Donaldson says that his first post-White House project will be ”an NBC prime time news show,” but wouldn`t elaborate. . . . There are frightening rumors that yet another ”Eight Is Enough” TV reunion is in the works.

. . . Steppenwolf Theatre just got the news that Time magazine is sending theater critic Bill Henry here later this month to cover the company`s production of ”The Grapes of Wrath.”

IT PAYS TO ADVERTISE . . .

Since the Los Angeles Lakers games have become such an ”in” place for film industry execs and stars, the Illinois Film Office just bought the advertising board over the players` exit in the L.A. Forum. It reads: ”Come Shoot in Our Court-Illinois Film Office.”

INC.LINGS . . .

Friday birthdays: Mark Harmon, 37; Jimmy Connors, 36; Marge Champion, 65; Peter Ueberroth, 51; Joe Bohannon, 32. . . . Saturday birthdays: Eugene Sawyer, 54; Charlie Sheen, 23; Valerie Perrine, 45; Eileen Brennan, 53; Anne Jackson, 62; John Coughlin, 63. . . . The Chicago Public Library`s Cultural Center will open a store peddling city memorabilia-from books to street signs to manhole covers-soon in the old State of Illinois Building at 174 W. Randolph St. . . . Paul Green, director of the Institute for Public Policy and Administration at Governors State University, has published a collection of essays called ”Paul Green`s Chicago.”