The third market building stood the longest time, from 1850 to 1966, when it was demolished as part of the Market-Mohawk Urban Renewal project.

[1][2] The building's second floor housed City Hall, including a council chamber and courtroom, with two neighboring jail cells and a guard room.

Individual rooms held the offices of the mayor, city marshal, clerk, surveyor, and the market master, the marketplace supervisor.

In 1872, a new City Hall was dedicated on Capitol Square, removing the municipal functions of Central Market to the new building.

[1] In 1930, the market was remodeled by Thomas Tully, with new dormers, half-timber trim, new roof lines, and heating and refrigeration installed.

The market was thriving into the 1950s, as much of the population lacked refrigeration and needed to purchase smaller quantities of food more often.

In 1950, the market celebrated its centennial; Governor Jim Rhodes stated it would not be redeveloped, as it had significant historic value.

By the 1960s, as urban renewal became popular, and as the market was in need of repair, with tenants declining, Mayor Jack Sensenbrenner led the effort to remove it.

[2] The market was sold from the city to United Redevelopment Corp. as part of the Market-Mohawk Urban Renewal project.