Calhoun Square is the third track on the second disc of Prince’s 20th album Crystal Ball (his fourth using the name ).
Basic tracking took place on 15 June 1993 at Paisley Park Studios in Chanhassen, Minnesota (the day after recording versions of The Ride, Poorgoo, Honky Tonk Women, Bambi, Zannalee, The Undertaker and Dolphin, which comprised the album The Undertaker, which was ultimately abandoned). The song was not known to have been included on any projects prior to its inclusion on Crystal Ball. Calhoun Square is named after the Calhoun Square shopping district in Minneapolis, Minnesota.
The song was included as the B-side of the posthumous 7" vinyl release of Rock ‘N’ Roll Is Alive! (And It Lives In Minneapolis) distributed to all attendees at the Minnesota Timberwolves NBA basketball game in Minneapolis' Target Center against the Miami Heat on 5 April, 2019.