McElroy Auditorium is a 5,155-seat multipurpose arena located in Waterloo, Iowa. The original auditorium was built in 1919 but was replaced by the current auditorium which was built in 1936. Most arenas of McElroy's capacity are today built with higher ceilings but McElroy's ceiling is only 26 ft from the 20,000-square-foot (100' by 200') arena floor. The arena contains 234 box seats and a 4000 sqft lobby. The arena was built with heating and not air conditioning.

A total of 1,845 chairs can be placed on the arena floor; the arena holds up to 7,000 for concerts. Despite only 4 concession stands at the arena, the arena does feature a 150-seat restaurant, the Calamity's Cafe. There are, however, 5 dressing rooms and 5 box office windows.

The arena, part of the National Cattle Congress complex, is used for trade shows, concerts, conventions, meetings, and sporting events. It housed the USHL's Waterloo Black Hawks from their inception in 1962 until Young Arena opened in 1995 and the Iowa Stars in the old Central Professional Hockey League during the 1969-70 season. It also hosted the Waterloo Hawks of the NBL and NBA in the 1940s and 1950s.

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