Old Stoney was built in 1892 and served as Frankfort High School. On February 24, 1922, a fire completely gutted the building, leaving only the four walls. Using the original walls, the building was rebuilt and reopened on January 25, 1926. It was used by the Community Schools of Frankfort until 1974. In 1976, Old Stoney, Inc., a nonprofit corporation, was formed and entered into a 99-year lease with the Community Schools of Frankfort. On June 4, 1979, The Old Frankfort Stone High School was entered on the National Register of Historic Places. Old Stoney, Inc. lacked funds, and in 1995 the City of Frankfort purchased the building from the Frankfort School Corporation. It was renovated to provide space for the Mayor, the Clerk Treasurer, the City Engineer, and Main Street. Originally there was a tunnel running from Old Stoney under Walnut Street to other school buildings, and part of the tunnel can still be seen from Old Stoney today. In 2016, led by community volunteer Jim Siegfried, the City funded a $4,300,000 renovation that included a new roof, tuck pointing as needed, upgraded heating and air-conditioning, repaired windows, new storm windows, electrical work to bring it up to code, closure of two of the original three skylights, repair and painting of interior walls, and new landscaping.