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Befitting its name, this up-and-coming troupe specializes in lighthearted productions filled with clever banter; it's best known for an annual December production of David Sedaris's The Santaland Diaries. But true to its motto, "Smart Art," Theater Wit also challenges audiences to think while being entertained. While it started as a vagabond company that performed in various venues around town, its move to a permanent home in Lincoln Park has revitalized the group and raised its profile considerably.