[2] It was built by Colonel Edward Butler of St. Louis, Missouri, at a cost of $250,000, for his son to present shows on the Empire vaudeville circuit.

The Century featured acts from the Empire burlesque circuit, including Al Jolson, Fannie Brice, and Eddie Foy.

The Marx Brothers performed I'll Say She Is for three weeks in 1923-24, the long run convincing the Shuberts to continue operating the theater.

Performers included Gypsy Rose Lee and Tempest Storm, and Chesty Gabor before the Folly closed in January 1974.

The theater began showing "adult" movies in 1969, apparently prompting an unknown person to plant a dynamite stick in a drainpipe on December 29, 1969.

[7] A group of local historic preservation activists, including Joan Dillon and William N. Deramus III, formed a nonprofit, the Performing Arts Foundation, to raise the money to purchase and restore the theater.

Performing Arts Foundation raised $350,000 in contributions and through negotiation convinced Annbar Associates to offer the remaining $600,000 of the purchase price as a donation.

After seven years a full renovation was completed in 1981, including the construction of an annex on the site of the former Edward Hotel.

Plans are now under way, and approval has been granted by the Kansas City Landmarks Commission, to install a marquee sign that closely mimics the original Folly signage.