Statement of Significance (as of designation - July 17, 1991):
Laid out in the 1860s, Marshall contains a large number of 19th century buildings in a variety of architectural styles from Federal to Beaux Arts with minimal intrusions, as well as an exceptionally intact community plan, typical patterns of land use and common patterns of development. Although the community had hoped to be the State capitol, prosperity came in the form of railroad activity and later a patent medicine trade. In the 20th century, sensitive planning and historic preservation have combined to produce an overall quality of community living seen in very few other American towns of this type and size.

Condition:
There are no threats to the landmark.

Historic association with African American history, specifically the Underground Railroad, has been recognized with a plaque. The plaque commemorates the Crosswhite Incident of 1847; the landmark was a "station" on the Underground Railroad.