These two buildings were built in c.1938 with the Waterloo Courier occupying the building at the Corner of Park Avenue and Commercial Streets and Montgomery Ward the neighboring one at the corner of West 4th Street and Commercial Street. Montgomery Ward eventually moved to a mall in Cedar Falls and the Courier took over both buildings. In 2011, the Waterloo Courier relocated and the buildings were sold to a developer. Both have sat empty since being sold.

The buildings are the only buildings of their type in that section of downtown Waterloo and the former Montgomery Ward building has unique architecture that is not found elsewhere in downtown Waterloo. Unfortunately, a false exterior was added to the original Courier building in the 1960s. Also, additions were built behind both buildings in the 1980s that do not match the character of the buildings.

Although there does not appear to be any major exterior roof problems with the buildings, the interiors are in poor condition and both the exterior and interior are receiving little to no maintenance. Despite a seemingly lack of interest in maintaining the buildings by the current owners, there have been few attempts made to find a buyer that is interested in investing in the buildings. Consequently, some in the community are advocating for the buildings to be torn down and something else built in their place.

The buildings have potential, however, in a downtown which has experienced a resurgence of activity and development in the last couple of years in which many new retail business and restaurants are opening. They are only a half block from the West Historic Commercial District and the district could be expanded to include those buildings along with possibly the Library, Mid-Century Community Bank and Trust Building, Wonderbread/Single Speed building and others.