In 1901, after the Knapp Stout era ended, its holdings were sold to the Rice Lake Lumber Company, later known as the largest hardwood mill in the country. In 1906, the Rice Lake Excelsior Co. arrived at its present location and in 1929 merged with other firms to form American Excelsior Co. In 1916, William Stein purchased a portion of the lumbering company property. In 1919, the Rice Lake Lumber Company was purchased by the Edward Hines Hardwood & Hemlock Company of Chicago, whose Hines Lumber Company also owned and operated the Park Falls Lumber Company, and from 1919 to 1924 the mill was operated as the Park Falls Lumber Co. In 1934, the Edward Hines Lumber Co. mill burned, ending a 70 year logging and lumbering industry. In 1993, the Stein property was donated by Norman Stein as the site of the National Lumbering Hall of Fame. In 1998, the building used by Stein Bros. Steel as an office center, constructed in 1887 as a hardware store and tin shop, was destroyed by arson. In 2008, Barron County, the Dept. of Natural Resources, the Rice Lake Protection & Rehabilitation District, and the Lumbering Hall of Fame joined in a joint endeavor to develop a boat landing, bathrooms, a parking area, and a landscaped park.