The town of San Juan was established in 1910 with the sale of 406 acres of land to the San Juan Townsite Co. , by area entrepreneur John Closner, for whom the town was named. 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 served a variety of business, 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.