The house was built in 1890 at the intersection of Nikolskaya street (now the street Radishcheva) and Low Sergius (now Michurina street) under the supervision of architect A. M. Salko for entrepreneur Peter Schmidt.

The Schmidt family in those days was a major producer of flour in Saratov and the Volga region. Especially business performance included two brothers; Peter and Andrew, the Schmidts. Their efforts were grain warehouses built of stone on a Large Sergius (now Chernishevskaya), in 1879 earned steam mill on Kabanovskaya the hill (later called Shmitovsky Uzviz). Nowadays warehouses still in use for a long time they were located in Lexar", and the place of the mill stands the new building of the Academy of law.

The estate of Peter Schmidt stood on the rise of the street and was an integral landmark of the old city of Saratov. Among the wooden shacks and narrow-minded of buildings the building looked like a palatial mansion. One facade with balcony and loggia, went to the Volga, the other with figural Attica, was considered the front. Angular Bay window made house unique and emphasized the style of the infamous in Saratov architect Calico. The internal decoration was affordable and convenient.

Up to the present day survived only a mansion, the area in front of the house now belongs to Saratov financial and technical College. From 1918 until 2011, the building served as a House of knowledge and enlightenment", now it houses the creative club "Constellation".

House P. Schmidt is a monument of architecture of the late nineteenth century and protected by the state.