Can really a cinema be set just next the 1891 old style town hall ?
Here are a few good examples of how it could look from CuuSoo (note these are private peoples MOC's, but give a good general feel)
As far as sitting next to or near the Town Hall. This was quite common in 1930's to 1950's American small town Main Streets. Probably the best example you would know of would be the Back to the Future movies. There is a movie theater near the Town Hall / Clocktower in 3 of the 4 time periods seen on screen.
(Oh and you are partially correct. There is a Spiderman Daily Bugle Building set coming out over in the Marvel Superheroes line )