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This was a God-awful theater, and none of my family or friends were sad to see it go. It was always run down and dirty, many of the seats were sticky (not just the floors which were typical of most theaters back then), acoustics were horrible, if you could hear the soundtrack at all good luck making out the dialog. Also the management was so cheap they would actually turn off the air conditioning in the middle of the movie during the hot summer days! By the time the film ended we would all be stampeding out the doors to get to the fresh air. One time a friend and I were there and he went to the soda machine, and after putting in his money he gets ice, pop, and cup in that order!
As to the confusion about the location: the Studio was located in Oak Lawn throughout its existence. The Village of Chicago Ridge annexed the area prior to the development of the mall.