When John Overman platted the town of Cedar Falls in 1853, he deeded this block to the community as the site for a future courthouse. Cedar Falls was the county seat of Black Hawk County at the time, but an 1855 election gave this distinction to Waterloo. As a result, "Court Square Park," as it was originally known, was never used for its intended purpose. Overman Park was the first public park in Cedar Falls. It served as the center for civic celebrations, a function it still serves during the annual Sturgis Falls Celebration.

A new band shell was completed in the Summer of 1996, and annually features band concerts during the Summer months.