The depot was originally located in Bancroft on the Wisconsin Central Railway. It was built in 1898, and later became part of the Soo Line. During its heyday, the depot was an important stop on the "P line", the Soo Line's branch extending from Portage to Point (hence the name).

The exterior of this building and 1st floor have been restored to the way it looked in the 1920’s. This is the only remaining example of the 6 depots built in this style.