The Wallace House is the cornerstone of the downtown in this small farming community. Built in 1874, it was originally a 24 room hotel and dining establishment. The downstairs housed five businesses until a fire in 1904 burned down most of the stores. In 1905, it was rebuilt and the lower section continued to house 5 stores.

In about 1915, a bank remodeled the front portion of the building. They took down the balcony and turned an upstairs sitting room into their Board Room. The hotel restaurant continued to serve meals until sometime in the thirties. After the bank went out of business, the space became the home of the local five and dime. The hotel became a railroad stop over for many of its employees. When hard times set in, in the late fifties, some of the hotel rooms became apartments. And that’s the way they have remained until renovated in 1993.