The red-brick building with wrought-iron ornaments of hipped-roof turrets and ornaments of figured bricks in the so-called "Russian style" was built in 1911 by the merchant of the first guild, Ivan Polyakov. Since 1989, it has been protected by the state as an object of cultural heritage of regional importance.

This trading house on the corner of Moskovsky Prospekt (now - Lenin Avenue) and Gogolevskaya Street is connected by brick gates with Polyakov's dwelling house, built earlier along Gogolevskaya Street. On the first floor of the building, the halls were rented by merchants of fabrics and clothes, the second floor was occupied by a bank. According to legend, during the great fire of 1917, the store was rescued by “covering” it with carpets soaked in water.

Since 1918, a military hospital was housed in the building, and then a local military hospital. Since the 1930s, the first floor of the building has restored its trade profile, changing only the names (Narkomtorg Department Store, Tekstilshveyobuvtorga store, Yubileiny, and since 1998 - Krasny).

The medical school, created on the basis of a military hospital, occupied the second floor of the former Polyakov trading house until the end of the 1970s. When the medical school moved to a new building, the store was reconstructed, and in 2006 the historic facade of the building was restored.