Silver Beach opened as a resort in 1891 when local businessmen in boat building Logan Drake and Louis D. Wallace built vacation cottages as Silver Beach Amusement and Realty Company along Lake Michigan.
In the ensuing decades, the park expanded, including the additions of a ferris wheel, miniature train, children's amusement ride area, and miniature golf course, and maintained continued popularity due in part to the owners providing steamboat access from Chicago.
Silver Beach's success continued until the 1960s, when crime and unrest became much more common, and closed on August 10, 1970, due to the escalating problems including a violent incident on July 4, 1969.
Rides and attractions were sold and the amusement park was abandoned; the remaining structures were demolished starting in 1975.
The new carousel is accompanied by exhibits from the Silver Beach Amusement Park, a Kid's Discovery Zone hosted by St. Joseph's Curious Kids Museum, the Whirlpool Compass Fountain and the Shadowland Ballroom, which hosts wedding receptions and other special occasions.