The 19-acre Milwaukee Falls Lime Company site is located largely within Lime Kiln Park in the Village of Grafton. Constructed between 1890 and 1893, the property's historic resources represent the lime industry that was once crucial to the economic welfare of Grafton and Ozaukee County.

Established in 1890, the Milwaukee Falls Lime Company was a leader in Ozaukee County's lime production and was a major industry in the Village of Grafton. In addition, the company was well-respected within the Wisconsin lime industry as being a model of efficient production. With six (later five) lime kilns, limestone quarries, a collection of associated outbuildings and tramways, and a dam on the Milwaukee River that provided power to the operation, the company manufactured lime between 1890 and 1926. Today, local residents recognize the site of the Milwaukee Falls Lime Company as an important remnant of an extinct industry that was once the backbone of Grafton's economy. It remains the only evidence of Grafton's once thriving and well-respected lime industry.