Apparently a series of bad investments had this awesome facility change hands for a while, then be used as a church for a while, then sit unused for a while. Now it's back to being a badass theatre again, and I only wish I still lived in that part of the country to behold it.
Edit:
here are two links about the theatre
official site
Cinema Treasures forum (seems to take a while to load the posts, so be very patient)
The latter contains some of my friend's rave reviews.