It would be devastating to lose all these buildings, but I could see this configuration working:
I would hope, if this were the configuration chosen, that some care would be taken to preserve both the terra-cotta facade of the Newspaper Agency building, and the skylight, mosaic, and as many of the intricate moldings as possible in the MUAH building, and then somehow incorporate them into the new theater. The glass tower obviously does not need to be located on this corner; I'd prefer to see it built on State street, mid block between 100 and 200 South. This is without the glass Tower:
This could also work; it would require an alley where Braza Express is currently located (maybe Braza could move to CCC's food court?), but requires less demolition and some reuse:
Or:
Or:
Personally, I would like to keep the MUAH building:
I think it would make a great foyer