The Eagle River Downtown Historic District is significant in the area of Commerce and Community Planning and Development. Initially developed in the 1880s, the two-block stretch of East Wall Street, along with the single block of South Railroad Street has long served as the primary commercial/retail district of Eagle River for both year-round residents, as well as seasonal tourists. Although established as a lumbering town, the community would soon transition to accommodate the summer tourists that flocked to the area – first by train and then by automobile – to enjoy the area’s natural beauty and to engage in such activities as fishing, hunting, boating. While winter sports were introduced in the 1920s, they did not truly gain widespread popularity until the 1950s and after.

Despite multiple devastating fires that continually reshaped the downtown district’s building landscape, along with the construction of two modern malls on the outskirts of the community, the downtown persevered. In the 1970s, in an effort to both maintain, as well as reinvigorate the downtown retail district’s tourist appeal, the city “re-invented” itself following a decision to adopt a city-wide “Northwoods Rustic” theme for the construction and remodeling of its buildings.