Laugh Out Loud Theater at the Streets of Woodfield Mall (601 N. Martingale Road, Suite 171, Schaumburg, IL).
There are two shows, one at 7:30 and one at 9:30. Both shows are short-form improv. The early show is family-friendly ("G - PG" as they say), the later show can be more racy (it varies by audience and their suggestions).