Overview

The 1,500-seat theatre was constructed by the Fountain Realty Company at a cost of $1 million and opened in early May 1928 with The Circus (1928)  starring Charlie Chaplin, and onstage: master of ceremonies and musical director Connie (Loren J. Connaughton) and his band, along with several vaudeville acts.

Exterior in 1928

In addition to the theatre, the building contained storerooms, 20 small office suites, and a ballroom in the basement capable of accommodating 300 guests. The theatre was equipped for both movies and vaudeville stage acts.

The building was designed by Indianapolis-based architect Frank B. Hunter with associate architect Bennett Kay. Upon the building’s opening, Hunter said “The entire project will be far beyond the expectations of the citizenship of the vicinity, and will mark a new architectural epoch in this neighborhood”. At the time, Hunter was known for the city’s Ambassador Hotel, the Zaring Egyptian Theater, and the Eagles’ Temple.

The general contractor for the Fountain Square Theatre Building was Indianapolis-based J.W. and W.C. Martin. The firm had most recently worked on a large portion of the never-completed Cincinnati Subway. Interior decoration was by Continental Studios of Chicago, under the supervision of the studio’s experts Otto and August Oslos. At the time of the theatre’s opening, August Oslos was quoted as saying: “This beautiful new structure is, to the best of my knowledge, one of the finest neighborhood playhouses in the United States. I think it is without equal in sheer beauty and atmosphere”.

At the time of opening, the theatre boasted one of the largest electric signs in the state of Indiana. The approximately 40ft (12.2m) high roof sign contained letters 8ft (2.4m) high which could be seen for miles. The sign was manufactured by the Artcraft Sign Company of Lima, Ohio.

Auditorium in 1928

In its original design, the foyer/lobby represented an outdoor court surrounded by stores, shops, balconies, an arcade, and overhanging cornices, all creating the effect of an Italian village with the decoration “suitably antiquated and rusticated”.

The auditorium represented a large Italian garden under the night sky with twinkling stars, rolling clouds, and a creeping moon. The “time-worn” garden walls contained shrines, fountain features, and minarets. The walls were overhung with artificial vines and flowers, with artificial trees behind.

The theatre was originally equipped with a 3-manual, 9-rank Marr & Colton theatre organ, mounted on a modern organ lift manufactured by Earl B. Hough of Cleveland, Ohio. West B. Masters was the theatre’s original organist.

Between 1928 and 1957, the fourth floor of the building housed Fountain Square Recreation, a bowling alley and billiard hall.

In 1955 the theatre got sleek new marquees at its two entrances, on Prospect and Shelby streets. The Shelby St entrance was originally designed as the principal entrance with Prospect St being the principal exit, although the latter was originally equipped with a ticket booth to sell tickets to anyone turning-up at the management’s less-preferred entrance.

Auditorium in the mid-2010s

On 2nd April 1960, the theatre closed to make way for a remodeling by owners the Fountain Realty Company to facilitate a Woolworth’s store moving into the street level of the building.

Woolworth’s closed around the end of 1968 and was replaced by a furniture store.

For the next 20 years, from the early 1970s to the early 1990s, the theatre was used variously as a furniture store and a thrift store. The upper office units, previously occupied by doctors, dentists, and other professionals, slowly fell into disrepair.

In 1993, Indianapolis local Linton Calvert purchased the building for $600,000 and started restoring it. Calvert was interested in the building due to its past housing a bowling alley, and restored the fourth floor to its prior use as a bowling alley. Eight lanes of duckpin bowling were added with furniture being sourced from all over the country to make the alley as original as possible. Most of the original bowling equipment, including ball returns, lane seating, and masking units were found in an old barn in Columbia City, Indiana.

In 2017 a Chicago-based real estate firm, North Park Ventures, LLC, purchased the building from Calvert for an undisclosed amount. Calvert was allowed to keep ownership of the businesses in the building. In 2022 Calvert sold all of his businesses based in the building to a local wedding venue operator.

As of 2025, the restored Fountain Square Theatre is a popular events venue on the southside of Indianapolis.