[5] In the 1920s, Marshalltown was a bustling community, and hub of three railways: the Chicago and Northwestern, the Chicago-Great Western, and the Minneapolis and St. Louis.

Even so, the town lacked a major amenity — a hotel suitable to serve as a community center for social functions.

An $11 million restoration was completed at Hotel Tallcorn, following the state and national historic preservation guidelines.

After restoration, the Hotel Tallcorn has reclaimed its position as an anchor in the Marshalltown Downtown Historic District, which was named an Iowa Great Place in 2014.

The building is listed on the National Register of Historic Places because it was significant in the development of Downtown Marshalltown.