In fact one of the first movies I ever attended was at the Marquette theater on 63rd and Kedzie right by the Colony and I believe it was ran by the same people.
"The Marquette was owned the same chain that owned the Hi-Way and the Colony theatres. On the north side of the city they owned the Sheridan, Patio, Vogue, North Center and possibly some others." from a post on Cinematreasures.org
I remember the last movie to ever be shown here was 101 Dalmations. At Xmas each year they used to have holiday cartoons and every one would get a plastic stocking filled with hard candy and coloring books. After it closed it became the "Brighton Center or the Performing Arts", but I think it may have only hosted one or two ranchero shows before shutting down again.
Oddly enough, there used to be this large wolly mammoth at MSI in some fossil fuel exhibit near the entrance to the Coal Mine. When this section of the museum was redone as an enlarged "Yesterday's Main Street", the mammoth's head went to a mini golf set up at Navy Pier, and the rest o her went to the Brighton (don't ask me why!). Right before the theater was destroyed it was moved out to the alley between the stage entrance and Watra' Church Goods.