It formerly housed the department store Elder-Beerman, and still houses several Rock County government offices, a convention center and bar, and two School District of Beloit charter schools.

There are also an automotive shop and a culinary program run by students from Beloit Memorial High School.

Set on a high profile, 30-acre (120,000 m2) site on a bluff overlooking Riverside Drive (US Highway 51) and the Rock River, the 400,000-square-foot (37,000 m2) Beloit Plaza was the first major shopping center in Rock County.

Several redevelopment efforts failed, but with the involvement of Beloit billionaire Ken Hendricks beginning in 2004, a new plan to make it a mixed-use development with public services and other facilities has raised local hopes for the site.

Tenants included an Elder-Beerman store, Cardinal Stritch University, the University of Wisconsin–Extension, the Beloit Public Library, the Rock County Health Department, the Beloit Area Community Health Center, School District of Beloit facilities, a convention and banquet facility, and smaller businesses.