Designed and built by Driscoll Brothers & Company, the Donovan Building was erected as a three-story building and housed Ithaca's Gas & Electric Corporation. The fourth floor was added in 1922.

The Donovan Building is Neo-Classical Revival by design and is typical of other early twentieth century commercial structures. Known for its tall, dark brick piers and a sixteen-bulb marquee, the Donovan Building is, arguably, the most distinguished building at its intersection. 

In 1990 the building was designated a historic landmark and placed on the National Register of Historic Places. 

Today the Donovan Building serves as an office space for small businesses, entrepreneurs, artists, and individuals.