Established in 1910 as the Brazos Valley Cotton Oil Company, the Silos Grounds originally served as a cotton mill. For almost a century, the mill purchased cottonseed from local farmers, extracted the oil for culinary and industrial uses, and shipped it around the world. The company survived the Great Depression, the 1953 Tornado, and other hardships, but as the century wore on, the mill struggled to remain open. By the 1990s, the company closed its doors, and the building became vacant. In 2014, Chip and JoAnn purchased the property with a vision to restore this historic site and create a meaningful place that would welcome guests to Waco. Magnolia Market and the Silos grounds opened to the public in 2015.