The building served as the world headquarters for Walker's company, as well as entertainment, business, and commercial hub along Indiana Avenue for the city's African American community from the 1920s to the 1950s.

[4][5] The four-story, triangular-shaped building at 617 Indiana Avenue was designed by the Indianapolis architectural firm of Rubush & Hunter and built by W. Jungclaus Company.

[3][6][7] The Walker Building is located along Indiana Avenue, a center "of entertainment, business and pride" for the city's African American community from the 1920s to the 1950s.

[4] The building served as the world headquarters for the Madam C. J. Walker Manufacturing Company, "one of the earliest, and for years the most successful, black business empires in the United States.

"[5] In 1910, Madam Walker established the headquarters for her hair care and beauty business in Indianapolis, Indiana, where her company at one time employed about 3,000 women workers at its on-site factory.

[3] A "group of Indianapolis citizens recognized the structure's rich history" and began a project to preserve the aging building.

A $2.5 million capital campaign raised funds to restore the Walker Theatre with a present-day seating capacity of 935.

The influence of African art forms in A'Lelia Walker's original design concept is apparent throughout the restored theatre.

[10] The Urban Life Center also collaborated on two office structures along Indiana Avenue: Walker Plaza, built in 1989,[12] and 500 Place, which was completed in 1992.

[17] In 1987, the Madam Walker Theatre Center launched the Youth-in-Arts program, which targeted more than 150 youth who may not have the resources to experience the arts outside of their typical school setting.

[citation needed] In more recent years the facility's program offerings have been more limited due to the deterioration of the building, aging equipment, and consistent leadership challenges.

The theatre is used for pageants, musicals, concerts, lecturers, auditions and rehearsals, motion picture and video screenings, ceremonial awards presentations and other community events.

The triangular-shaped building has two main facades along Indiana Avenue and West Street (Dr. Martin Luther King Blvd.).

[3] The interior ornamentation includes bold colors and Egyptian and Moorish motifs with Art Deco details on the building's stucco walls and ceilings.

The theatre includes a large stage with a grand drape, pipe organ lofts, an orchestra pit, elaborate decorations, and plush seating, in addition to a small lobby.

In addition, the stage walls and ceiling include a variety of designs such as African masks, warrior shields, spears, animals, and other exotic symbols.

[3] It no longer houses the Walker Manufacturing Company, but the building continues to serve as a cultural center for the African American community.

Walker, the building's namesake, the facility's ongoing mission is to promote social justice, provide cultural education, and empower "the next generation of entrepreneurs, business owners, and civic leaders" and serves as a "symbol of African-American pride.

"[11] The historic Walker Theatre is referenced in singer/songwriter Leroy Carr's "Naptown Blues" and Mari Evans's poem, "I Am A Black Woman.