The KiMo Theatre, a Pueblo Deco picture palace, was opened on September 19, 1927 by a man named Oreste Bachechi. Bachechi, a motivated entrepreneur from humble origins, came to the United States in 1885. Winding up in Albuquerque, New Mexico, he soon set up a business in a tent near the railroad tracks. As the city expanded, so did Bachchie’s business, as he became a liquor dealer and proprietor of a grocery store. His wife Maria ran a dry good store in the Elms Hotel. As his fortunes expanded, he began the Bachechi Amusement Association in 1919, which operated the Pastime Theatre with Joe Barnett.  In 1925, Oreste decided to achieve his true dream – building his own theatre. Envisioning a unique southwestern style he soon hired an architect to design it, winding up with the Pueblo Deco style. This architectural style was a flamboyant, short-lived fashion that fused the spirit of the Native American cultures with Art deco.

At a cost of $150,000, the theatre opened on September 19, 1927, at a time when silent movies were the all-consuming rage of Americans. A contest was run for the naming of the new theatre and Pablo Abeita won the magnificent prize of $50 for the unique name of "KiMo.” KiMo is a combination of two Indian words literally meaning "mountain lion" but more liberally interpreted as "king of its kind."

Just one year after realizing his dream, Oreste Bachechi died, leaving the management of the KiMo to his sons, who soon combined Vaudeville and out-of-town road shows with movies. Over the years, the KiMo featured such stars as Vivian Vance, Gloria Swanson, Tom Mix, Ginger Rogers, and many others.

No institution stands through time without something bad happening and the KiMo is no exception. In 1951, a six year old boy named Bobby Darnall was killed when the boiler in the basement exploded, demolishing part of the original lobby. The boiler was located right beneath the concession stand in the lobby. Bobby, who had been sitting in the theatre balcony with some of his friends, suddenly was frightened by something on the screen and ran down the staircase to the lobby. Just as he arrived, the boiler exploded taking Bobby and part of the lobby in its wake of destruction. It is the spirit of little Bobby who is said to continue to haunt the KiMo Theatre today.

Another tragedy occurred at the KiMo, when in 1963; a fire destroyed the original 1927 stage and damaged much of the rest of the building.

Soon after, Albuquerque, like many American cities, experienced a mass exodus from downtown, and the beautiful KiMo Theatre began to fall into disrepair.