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Visited El Real Tex Mex in November 2011. The marquee looks very nice, and overall things look about as good as you can expect for a theater converted to a restaurant.
The theater building is still there as of the end of 2011, but its condition doesn’t appear that great. The map address can be refined to 9th St and Ave I:
Photo circa 1968
I’m glad the River Oaks is still around. I saw a number of movies there when I was in high school, although I don’t think I had much of an appreciation then for its history. I think it’s been maintained well, and has a lot of charm. The converted balcony screening rooms are fairly small and not laid out that well, but the main auditorium is great- nice details with oak-shaped wall lights and deco figures flanking the screen. A recent weekday matinee was pretty well-attended, so hopefully it’ll resist the development pressures!
Here is a nice write-up and photo set from 4/3/11:
This piece confirms GaryParks' points about the interior details not being original, and that it wasn’t originally named the Guild (was just the “Menlo Theatre.”