This building was constructed in 1874 by master builders James and William Banes for the Independent Order of Odd Fellows. The structure is still home to New Albany Lodge #1, the first Odd Fellows Lodge organized in the Hoosier state.

The brickwork for the building was supplied by John Anderson and Theodore Detrick, and the limestone by John Diebold. The cast-iron storefronts were manufacturer by Snead and Company of Louisville, KY, and the tin work was done by H.N. Devol.

An account in the New Albany Ledger-Standard when the building opened in February 1878 described the lodge hall:
"The decoration of the hall and anti-rooms [sic] was executed by Messrs. Barrett and English and reflects great credit upon their taste and skill. The main hall is handsomely decorated in fresco paper of lion pattern. The side walls are covered with paper of neat scroll pattern, trimmed above with fresco cornice and below with dado, in imitation of cherry, walnut and oak. The prinicple chair is finished with doric columns and entablature, with three panels in scarlet and gold.... The tent which is part of the Encampment equipment, is on the opposite side of the hall, and is paneled in royal purple, with royal purple velvet tent."  

The New Albany Oddfellows lodge was organized in 1835, just sixteen years after the first American lodge was established in Baltimore, Maryland. Their first home was a frame house that stood on the south side of Main Street between Pearl and Main streets, pictured below. The house was moved to 310 West Market Street in 1849.