The building, constructed in 1862 in Tsaritsyn at the intersection of Dubovskaya and Knyagininskaya streets, was erected by the local merchant Alexander Shlykov's construction cooperative. Thanks to the efforts of the merchant and his family, the 4th women's gymnasium opened in this building on September 5, 1910, the only one in the Tsaritsyn part of the city. From 1911, there was also a primary educational institution here, a city four-class women's school. The facades of the building are designed in an eclectic style with elements of Art Nouveau, including stucco decorations such as rosettes, masks, garlands, and pendants, making it a unique example of such architectural solutions in the city.

An intriguing urban legend is associated with this building. According to it, merchant Alexander Shlykov built it in memory of his daughter who drowned in the river. On the facade, one can see bas-reliefs depicting a young girl in a pearl shell and a bearded old man, alternating with each other. It is believed that the bas-relief of the girl is a portrait of Shlykov's drowned daughter, while the old man represents Poseidon or Neptune, the cruel god of waters who took the daughter from her father. However, this legend has been debunked: Shlykov had two daughters, the younger studied at the gymnasium, and the elder, Olga, married a local merchant and died during childbirth. The merchant's 21-year-old son Vasily drowned in the Volga River. Over time, popular rumor mixed these events into one legend, as some remembered the daughter who died, while others recalled the child who drowned.

During the Battle of Stalingrad, the building was heavily damaged. In September 1942, fierce battles with German invaders took place here, involving the 92nd Separate Rifle Brigade of the 62nd Army. In 1947 and 1952, the building was restored according to the designs of architects Georgy Rossikhin and Viktor Kubikov and repurposed as a cinema. During the reconstruction, the section facing Rabochy-Krestyanskaya Street was dismantled, as it hindered the street's expansion for a future highway. Thus, the building acquired its modern appearance.