Built in 1887, this was home to the former Mayor of Gravenhurst (1913-1914) Albert Hill. He operated a livery stable and blacksmithing shop earlier on Hotchkiss Street and later at this site on Bay Street. The wrought iron fence at the building was his work.
The Albert Hill Residence/Gadsby's is a two storey, rectangular plan, red brick construction with a front gable roof, overhanging eaves, two centre gables on the east and west elevations, a single door beneath the northwest centre gable, flat-headed windows fitted into segmental window openings with stone lug sills and brick voussoirs on the second storey, a large display window on the west side of the north elevation, a central single door entrance with a large transom on the north elevation, and a single door entrance offset to the east side of the north elevation with a segmental transom and brick voussoir. According to Google aerial imaging, an addition has been added to the south elevation that appears to mirror the main structure with its gable roof and centre gables on the east and west elevations.

In 2012 the residence received the official Listed status under Setion IV of the Ontario Heritage Act.