I first about Pete's College Inn (located at 525 Dutton, not far from the businesses near Ivy Square) from the now-defunct Baylorfans (now part of Sicem365, though sadly the thread in question wasn't archived)1 which told a story of a bunch of Baylor students watching rats run around the restaurant (it served primarily some sort of chopped steak and mushrooms with punchcards) after hours, to the point of dragging in bleachers and cheering for them.
But beyond that not much is known about it other than the proprietar Pete Dris passing away in 2017 there's much I can say about it.
Newspaper and tax records show that the building was built in the 1930s as a small corner store business (home to a residential house a decade or so prior) and first served as a tailor shop before aforementioned Pete's, then became Chanello's Pizza, a Texas-based pizza delivery chain around 1980 (closed 1985)2 and from 1986 to around 1990 Bear Necessities. (Other than bringing to mind the song from The Jungle Book I have almost no information on this. There's a tax listing and being mentioned to buy concert tickets for Lorrie Morgan performing at a local nightclub and that's it). Afterwards, it was Rother's (later known as University Bookstore) until demolition in the late 2000s, so it was on Google Street View.
1. Regarding Hobby Lobby, if I recall, the story was that someone had blocked a drain on a lesser-used part of parking lot (that already tended to flood) to turn it into a "lake", and completely destroyed the parking lot in the process. Don't quote me on this.
2. Chanello's Pizza lives on from a Virginia franchise first opened in 1987.

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