The town of San Juan was established in 1910 when area entrepreneur John Closner sold 406 acres of land to the San Juan Townsite Co., and the town was named for him. Located on the rail line, San Juan quickly developed a business district along Fifth Street. At this site in 1911, the city's first two-story building was erected. It housed the San Juan State Bank until 1918 and later served a variety of businesses, including the district irrigation office, until its partial demolition more than 60 years later. The only remaining section of the structure houses the city library.