The Hyperion Theatre was not located on the campus of Yale as many people believe. It was a commercial theatre in New Haven that various Yale organizations used for performances before the University Theatre opened in 1927.
The Hyperion opened in 1880 as Carll's Opera House, became the Hyperion in 1897, the College Street Theatre (a movie house) in the mid-1930'. It closed in the mid-1970's and was demolished in 1998. The location is now a parking lot.