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This house goes back to at least the 1930's and probably before. It was remodeled and renamed to the Victor in 1938. It may have been known as the Rex also but there was also a Rex Theatre in Bessemer which may be confused with this. The ads in the archived newspapers continue into the late 1940's. The theater building existed through the years until 1990 when excess snow on the roof collapsed the structure.
Looking at the historical aerial photos, I am seeing one building that was present in 1986 that was gone by 1992. Being that the building was lost in 1990 due to excessive snow load on the roof, it would make sense this is where the theater was. Especially since this is the only section of town where buildings of that size exist. I have posted a street view of the empty lot below as well as a historical aerial of the building. I will use the address next door for reference. I could be 100% wrong also but I don't think so.