The auditorium that was built by 20th Century Fox in the 1950's is actually doing pretty well, since it is isolated from the rest of the building. The roof of it is swiss cheese but it isn't built of a very strong material, as it was only intended to be an interior ceiling. The theatre has actually been vacant for about 19 years. 1989 was the last film if I remember correctly (Back to the Future 3?). Anyway the building is in a sad state and surely isn't a Lister Block kind of building. There's not really any way it can be saved aside from the facade. Hopefully the developer that saves it does a good job incorporating it into the new structure (doubtful).
The company that owns it now is coming off as rather slumlord.
Here's a site with TONS more info on the Century, including comments from past employees.
http://cinematreasures.org/theater/1996/