The estate of mechanics E. A. and M. E. Cherepanov, which includes a house and a wing, is recognized as a federal architectural monument. The two-story stone house and wing were built in the classical style in the first third of the 19th century, presumably according to the design of architect A. P. Chebotarev.

This estate belonged to the family of Miron Yefimovich Cherepanov, the creator of the first Russian steam locomotive. The historical document 'Charter of the Vysya Factory on Estates and Hayfields of 1862' confirms that the owner of the house was merchant Kiprian Mironovich Cherepanov, the elder son of Miron Cherepanov. The family lived here until 1867, when the house was purchased by the Vysya Copper Smelting Plant for the official apartments of the managers. Over the years, managers of the plant lived here, such as Osip Zalesky, who later became a professor at the Moscow Technological Institute, and Leonid Chelyshev with their families. After the October Revolution, various Soviet institutions were housed in the building, and in the late 1940s, it became home to children from the UVD reception and distribution center. In 1984, the house was transferred to the Nizhny Tagil Museum.

The restoration of the 'House of the Cherepanovs' lasted twenty years, influenced by the economic crisis of the 1990s. The entire city participated in this process, with the museum being created through a method of folk construction. The restoration, landscaping, and exhibition creation involved not only museum staff but also numerous enterprises, organizations, institutions, associations, and private entrepreneurs. The Sverdlovsk Railway played a significant role in the repair work and the assembly of exhibits. The creative group that developed the museum's concept and its exhibition was led by L. P. Maleeva, a distinguished cultural worker of the Russian Federation.

The House of the Cherepanovs first opened to visitors on August 12, 2004. In 2005, the creators of its exhibition were awarded the regional museum prize named after O. E. Kler.

This museum provides a rare opportunity to touch the traditions of Tagil inventors and to learn about their biographies and inventions through authentic exhibits. Here, one can see unique astronomical clocks by E. G. Kuznetsov, a silver vase presented to steam engine inventor E. A. Cherepanov by the Demidov factory owners, a 19th-century bicycle, and much more. Special interest is aroused by the working models of locomotives and railways, as well as interactive exhibitions on the history of technology.