The Kit Carson Historical Society received $174,980 from the State Historical Fund to restore this small passenger and freight depot, which has been operating as the Kit Carson Museum since 1969. Constructed in 1904, the wood frame building is a well-preserved example of a Union Pacific standard plan combination depot. In addition to handling passengers and freight, this depot also served as the station agent's residence. With minor exceptions, the interior of the depot retains its original layout and materials.
The project, completed in February 2005, involved the complete restoration of the exterior, including replication of the original UP paint colors, the application of a fieldstone veneer resembling the original stone foundation, restoration of the windows and storm windows, and reconstruction of the sloping freight platform. Although moved from its original track side location by the Society when threatened with demolition in 1969, it remains architecturally important as the most intact Colorado example of this depot type.