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The gorgeous set and costumes in this Chicago Children’s Theatre production are certainly impressive–and they better be given how much the ballyhooed new Equity company is charging for tickets. At about two hours, Robert and Willie Reale’s odd musical, based on Arnold Lobel’s series of books starring the eponymous friends, may be too long for children. And mostly it’s too silly for adults, though Bradley Mott and Joseph Anthony Foronda in the title roles give the script some pleasing dignity, underplaying comic scenes that less experienced performers might have pushed over the top. That makes the show better for grown-ups, but the kids still seemed to get restless in the second act. Through 3/5: Tue and Thu 10:15 AM, Fri 6:30 PM, Sat 10 AM and 2:30 and 7 PM, Sun 11 AM and 3:30 PM, Goodman Theatre, 170 N. Dearborn, 312-443-3800, $17-$38, two for one 3:30 PM Sun.