A three-story brick building stood here after Levi Mercer, Andrew Shepherd, and William Bitters built it in 1871. Originally called Balcony Hall, it had a grand balcony on the third floor where plays, concerts, and dances were held. In 1875, the Independent Order of Odd Fellows purchased the building and replaced the original third-floor fittings with an IOOF meeting hall that remained until 1967. Alden "Torchy" Knapp bought the building in 1965 and later divided the third floor into two separate floors for business and residential rentals. In 1975, James Zimmerman purchased it and named it Centennial Tower because the building had just passed its 100th birthday. Many businesses rented space there over the years. Fire destroyed the building on December 9, 2011. Generous donations in 2016 funded Centennial Park, which took its name from the building's name at the time of the fire and was dedicated in honor of Indiana's Bicentennial year, 2016.