The department store was built on a place called the Dirty Corner. The city wanted to quickly spruce up the square, so Peter Schunck took action. Construction of the building began on May 14, 1934 and opened on May 31, 1935. In addition to supplying the miners, style-conscious trends were also placed in the department store. The people started to call the house Glass Palace (Glaspaleis), which is the house's official name today.
During World War II bombs destroyed the glass facade three times. When the Schunck company built a new department store, a pension fund moved in in 1970. The condition of the house deteriorated massively. As early as 1974, the building was used as a shopping center with a supermarket.
Besides many other awards, the house became in 1995 National Monument. The main reason was the abandoned status of the building and some people, that wanted to demolish it. The municipality bought the house in 1997 and converted it into a cultural centre. In 1999 it was declared by the International Union of Architects as one of the best out of 1,000 buildings in the history of the 20th century's architecture.
Three facades are made of glass facing east, north and west. The southern facade was once connected with the oöder Schunck store, which does not exist anymore. The south facade is completly visible today.