The Iowa Falls Historical Society was formed in early 1990. Its first home was in the basement of the Post Office and then in 320 Stevens Street across from City Hall. In the early '90's the Society acquired the Illinois Central Depot and the Mills Tower complex and started a long and complicated and ultimately successful application for grants from the Iowa Department of Transportation to restore the Depot and Tower, completed in 2003-2004.
In the meantime, thanks to several positive events, the Society purchased and restored the Dow House at 519 Stevens Street, a step back in time for the structure and its Antique Garden.
The city's decision to retain and restore the Carnegie Ellsworth Library Building created a highly usable space in the lower level of the building in which to relocate the Society's Historical Museum.
And so, the Society operates four sites, all on or near historic Rocksylvania Avenue: Historical Museum, Dow House, Illinois Central Depot and Mills Tower complex including an Illinois Central caboose.
The Historical Society has become an integral part of the community's efforts to expand tourism and to retain contact with its historic roots.