In 1933, its owner and charter member of the Midwestern Ballroom Operators' Association (MBOA),[2] Orlaf K. Farr hired Rudolph Michael Schindler, a well-known architect, to convert the existing arena amusement hall that had been built in 1927 into configuration more suitable to accommodate a dance floor.

Farr operated Rainbow Ballroom since its opening until selling in December 1946 to Felix Bernard Beyer [3][4] and James Raymond Norton.

In 1948, James Norton purchased Felix Beyer's interest in the ballroom and then leased it for 10 years to Joseph Leher.

[14] Subsequent to its closing as a ballroom, the building was used as a demonstration chamber for missiles by Martin Company, then a warehouse.

After years of abuse and neglect, the red brick building was renovated in 2002 into offices by the architectural firm of Sink Combs Dethlefs.