Echelon Purchases Historic Evanston Post Office and Creates a Home for State Bank of Wyoming
29 Jan 2025
News
Echelon, a pre-seed/seed venture capital firm that invests in a network of founders solving the world's hardest problems, recently acquired the historic Evanston post office and federal courthouse building at 221 10th Street. The firm is incorporated and headquartered in Evanston and has been transforming the old post office to create a community hub in the city center.
One of the most notable tenants is State Bank, which recently opened its third branch location, providing banking services to residents and companies in and around southwest Wyoming. State Bank was established in 1997 by a group of local individuals who wanted to provide the area with a bank dedicated to serving the financial needs of the communities. As a community bank, they take pride in their role in supporting the growth and prosperity of the communities they serve and are excited to bring this service to Evanston.
“It was important for us to provide a local bank that understands the needs of the communities,” says Cody Bateman, CEO of State Bank of Wyoming. “You can come in and talk to someone, have a live person answer the phone, and speak directly to decision-makers.”
Echelon has created space for entrepreneurs and business owners to move their operations to a place where they can network with other Evanston leaders while connecting directly with local residents. Learn more about the major transformation that the post office is going through and how it will improve the Evanston business environment.
The Post Office has Been a Staple of Evanston for a Century
The Evanston post office and federal courthouse are located in one of the city's most iconic buildings. It has been a prominent part of downtown since the 1900s and continued to serve the Evanston community until 1987.
“I remember coming to the post office with my parents when I was a kid to get their mail from their P.O. box,” says Bateman. “Even as an adult, the courthouse is an amazing space. It’s around 20 feet tall across multiple stories with natural light from the large windows. It will make a fantastic event space.”
After the post office closed, it was bought by a local jeweler, who used the building until he retired. Afterward, there wasn’t much demand for the space. It changed hands a few times until Echelon saw potential in the building with a vision to turn it into an active hub for the entire community to enjoy.
“It has been well-received by the community that the new owner is improving the property while respecting the historic space,” says Kerri Faber, Partner at Echelon. “We are very excited to refurbish the building while keeping the history. We are taking our time to gather feedback from the community on the best use of the space and to really do this right.”
Some new businesses are already moving into the renovated space, while Faber and her team have additional plans to make the post office even more accessible to new businesses and the community as a whole.
The Building Will Become a Marketplace to Support Businesses
State Bank is currently the anchor tenant in the historic post office and federal courthouse. It installed a new vault to keep up with modern standards that is actually built into the original vault from the 1900s. Along with the bank branch, there are offices that local business owners can customize and rent, meeting spaces that will support, and plans for a coffee shop and marketplace to gather with colleagues, friends, and neighbors.
Echelon and State Bank kept as much of the original woodwork as they could and are trying to preserve the building's history. A directory sign from the post office days is still on display, and the original blueprints are framed on the wall. The designers are even considerate of the outside accessories, keeping the exterior lamp posts that were once gas-powered.
The post office's bones are still in place, but this building is still filled with energy. It is expected to renew downtown businesses by attracting more companies to Main Street along with vendors, suppliers, and clients to the building.
“Our vision is to build this into a beautiful community hub that can be used for social events, meetings, or even to just grab a cup of coffee and chat with a friend.” says Faber. “A space filled with life, where people from the community want to gather, a desirable location to move their businesses, hire, and bring people to the area.”
Echelon Chose Evanston for Its Economic Development Investment
Faber and her team at Echelon pride themselves on being different. They didn’t want to go where other venture capital firms are typically located and instead wanted to find a space to foster new ideas and creativity.
“Evanston is the perfect distance from Salt Lake City but far enough off the beaten path to give you the space and freedom to think,” says Faber. “We were also excited about the current economic development plans in place. The City of Evanston is focused on bringing in new industries here while also investing in current business growth.”
The development of the historic post office should provide visibility into the business development happening in Evanston. There is already a startup ecosystem in place, Echelon is simply giving it a physical location to thrive.
“The money you deposit into a local bank stays in southwest Wyoming and is lent back out into the community through personal and business loans,” Bateman says. “When you choose to bank locally, you are supporting an organization that helps your neighbors, friends, and family members.”
Visit the Historic Post Office and See the Future of Evanston
If you haven’t stopped by the historic post office and federal courthouse recently, you might be surprised by how much it has changed. Walk inside and see what State Bank of Wyoming preserved and what changes were made to bring the building into the 21st Century. This will soon be one of the most prominent hubs for the local community, startups, and businesses in Evanston and surrounding areas.
Evanston is changing, and the local economic development team is leading the way. Follow BusinessWyoming.com to see what other innovative organizations and community leaders are growing in Evanston. If you haven’t thought about doing business here, now is the time to start. We can’t wait for you to call Evanston home.
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