"No handsomer live stock(sic) Exchange is to be found in the West than this one at South St. Paul," the South St. Paul Reporter noted in 1887 after the Stockyard Exchange Building opened. Built by the recently formed Union Stockyards Company, the Exchange Building housed commission firms and other businesses associated with the adjacent stockyards, which became the largest stockyards in the United States.
Initially, the building served other functions as well: the town's first post office occupied it, the city council presided before the construction of the city hall in 1890, and the city's first bank, Stockyards National Bank, held space.
On August 30, 1933, this was the site of the robbery of the packing plant payroll by the Ma Barker-Al Karpis Gang, where policeman Leo Pavlak was killed and officer John Yeaman was wounded, but survived with 25 bullet fragments in his body. The machine-gun-wielding gang made off with $33,000.
This building is on the National Register of Historic Places.