The market building was built in 1916 by architect V. A. Lucchini. The size of the market, along with the building and shopping arcade occupies almost an entire block and is located on crossing of streets Chapaeva, Sacco and Vanzetti, the prospectus of Kirov and Peaceful side street, in the heart of Saratov.

Place of construction of the Covered market until 1914 was called Mitrofanevskoe area with ascension-Sendowski Church, consecrated in the name of St. Mitrophan (hence the name) and built in 1838. In the early twentieth century in Saratov largest market was considered Mitrofanevskoe. Rows of shops were located throughout the area and has brought a lot of profit to the city Treasury. Since 1900, the town Council considered the draft of the new buildings market, but only in 1907 the architect Lukshin received an order for construction. After spending three years on the examination of the best markets in Moscow, St. Petersburg, Riga and Odessa, he began designing buildings.

As the Newspapers of that time, June 7, 1914, the solemn laying of the Foundation of the market, which was attended by the rich and famous citizens, sacrificing in favor of "temple of Commerce" jewels and money. Accustomably Governor's wife lowered her niche in the Foundation ring with diamonds, then this place three days on duty policeman (until the solution solidified). So the legend of buried under the building Covered market treasure has official confirmation.

In 1916 the building, which had dimensions of 21 to 82 fathoms and surpassing by area, all existing in Russia, the market opened its doors to the world of civilized trade. Indoor market is divided into two isolated parts: the first is the outer halls of the Department store, located around the perimeter of the building and has 8 Grand entrances, the second covered patio with four main entrances. The facade is decorated with the coat of arms of Saratov (three sterlets), enclosed in a Laurel wreath, the moulded image of a bull, mercury (God of trade), the horn of plenty and keep it all the courageous Atlanta over each main entrance to the indoor market. In the middle of the courtyard is a fountain with bronze statues of female peasants.

Building an Indoor market trading is considered unique in the architecture of the early twentieth century, unaware of the crane and having from construction equipment only two winches. When the timing of construction in two years the work was done thoroughly, for several decades on the market building was not conducted even repair work, while remaining subject to constant exploitation.

The building of the city market hall is a monument of history and architecture of Federal value.