Constructed in 1887 by William Timby for the W.A. Simpson Department Store, this building was likely converted by L.P. Todd into the Princess Theater in 1914, where silent movies were accompanied by live musicians. For the next fifty-six years, it continued to operate as a motion picture theater. J. H. Eddy purchased and operated the theater from 1937 to 1977, and in 1937 the Eddy family completed major renovations costing over $10,000, including a new stucco and brick front with a modern marquee, blue, red and green neon "Princess" lettering above the entrance, 400 new leather upholstered opera chairs, and a new cooling system inside. Thomas and Charlene Green owned and operated the theater from 1980 until it closed in June 1985. In 2003, Paul Ramsey, on behalf of Ramsey Farm Foundation, purchased the property and donated it to the Princess Theater Troupe, a group of local volunteers, to restore and reopen it as a movie and live stage theater. Paul's son, M. Paul Ramsey, a prominent Los Angeles, California architect, designed the plans for the exterior restoration. Many volunteer hours, a Vision Iowa grant, and generous community giving matched by the Dekko Foundation raised over $350,000 for the project. The restoration was begun by Larry Lamb and completed under project manager Ron Landphair. The theater reopened as a community non-profit organization in August 2008.