The square is home to some notable buildings such as the storied Meulengracht's House and the listed Business- and Agricultural Bank of Jutland.

Buses and trams had to negotiate Lille Torv to get through the narrow, curved streets of Guldsmedgade and Klostergade, eventually confining pedestrians to sidewalks.

In connection with this project it no longer made sense to have motorized traffic at Little Square and it again became the domain of pedestrians.

[5][6] The Business- and Agricultural Bank of Jutland (Danish: Jysk Handels- og Landbrugsbank) is a listed building by the architect Sophus Frederik Kühnel featuring architecture relatively unique to Aarhus.

Previously the square was also home to the Mayor's House (Borgmestergården) which was moved to Tangkrogen during the Danish National Exhibition of 1909 and afterwards to the Botanical Gardens where it became the first building in the Old Town Museum.