Itaqui is a municipality in Brazil, located in the southwestern part of the state of Rio Grande do Sul, close to the Argentinian border, between Uruguaiana and São Borja.

It is constructed of masonry, with a façade 15 meters high—an important characteristic being the mobile auditorium, which, with a special mechanism, puts the main floor level with the stage, for balls and other types of events.

The Prezewodowski Theater is situated in front of the "Square Marshal Deodoro da Fonseca" and at the side of the Municipal City hall.

Due to the ease of the river travel, these European companies always played in Itaqui's Theater, giving to the city the nickname of "Small Paris."

In 1942, the building was sold at public auction, as a result of an action moved by a shareholder, who desired to recover the value of capital that she had subscribed.