Each year, the Virginia Theatre is host to movies from film reels, plays from various acting troupes, concerts, and Ebertfest, presented by the UIUC College of Media.

Since then, it has been presenting movies, live concerts, and plays to the Champaign-Urbana community and has only been closed for short periods of renovation by the Park District.

In December 1999, the Champaign Park District received a $900,000 grant from the State of Illinois to restore the then run-down theatre.

The east lobby/storefront was remodeled during 2007, and the main lobbies and concession stand were renovated and redecorated in 2010, thanks to a considerable donation from Michael Carragher.

[5] In 1921, the Rudolph Wurlitzer Company installed a theatre organ to provide musical accompaniment for silent films.

Since 2015, That's What She Said, an annual presentation by The She Said Project, has been a popular event at the theatre providing a spotlight on local women's stories.

The composition was selected by Ebert's wife Chaz and depicts him sitting in the middle of three theater seats giving his trademark "thumbs up" gesture.