Lane Place was built in 1845 by Senator Henry Smith Lane (1811–1881) and his wife, Joanna Elston Lane (1826–1914). Joanna's niece, Helen Elston Smith, inherited the home and eventually deeded the house and its contents to Montgomery County Historical Society. After some renovation the home became a museum that preserves and displays furnishings and objects that belonged to the Lanes or the Elston family.

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House colors:
White in 1845 to 1881
Gray in 1881 in mourning of Henry Lane’s passing
Pink after Helen renovated it into an Italianate villa
Yellow from 1920 to 1945
White from 1945 to present