Slated for construction on January 6, 1909, the Thunder Bay elevator was owned by the appropriately named Thunder Bay Elevator Company and was constructed by Barnett and McQueen at a cost of $550,000 and had a capacity of 1,500,000 bushels. It was one of the first elevators to be constructed in the Intercity area and consisted of a workhouse and an annex of circular bins. The workhouse featured three unloading tracks and was able to receive 140 cars during a 13 hour workday while also shipping 40,000 bushels per hour. The
elevator was powered by a large steam chimney.

One of the stranger snapshots of this elevator's history involves an event in 1914 where two armed men in a  canoe fired revolvers at the elevator, which prompted a response from armed guards. It was revealed that the event was a practical joke, but as a result of this event the local newspapers began advocating for grain elevators to receive military protection due to their importance as part of accessing the industry worldwide. The elevator ceased operations between 1970 and 1996.

Currently, only the silos of the elevator still remain, which can be seen on Hammond Avenue.