A shear wall building is considered as an assembly of plane and curvilinear shear walls tied together by floor slabs to act as a composite unit. Based on this conception and the continuous medium approach, the governing dynamic equations and boundary conditions are derived from energy principles, using Vlasov's theory of thin‐walled beams. All primary and secondary inertia forces, as well as the influence of elastic foundation flexibility, have been taken into consideration. A numerical solution of the dynamic equations is achieved by employing the Ritz‐Galerkin technique, yielding both natural frequencies and mode shapes. The technique is applicable to buildings containing coupled and non‐coupled, open section shear walls oriented in plan in any arbitrary manner. The use of the method is illustrated by the example of a complex building with unsymmetric plan, and the analytical natural frequencies of two shear wall building models are compared with those obtained experimentally by other investigators.