The building was erected in the late 19th century as a residential house with a shop, owned by merchant Alexander Fyodorovich Patutin. Before the start of World War I, utility buildings appeared in the courtyard, forming a unified estate complex. The basement housed warehouses for goods, an icehouse for food storage, and equipment for water heating. The first floor was occupied by shops selling haberdashery and fur products, while the upper floor contained living quarters.

After the 1917 revolution, trading establishments continued to operate here, and sewing enterprises and a dermatovenerological dispensary were located in the auxiliary premises. In the 1960s, after reconstruction, the shop known as '9th' was renamed 'Voskhoд'.

The building has two floors and an L-shaped form with a wing extending into the courtyard. The wing on the first floor is wider than on the second, creating a unique terrace. The first floor along the street housed a shop, while the wing contained warehouses. The second floor had residential rooms and an office. From the street, there was an arched passage to the courtyard on the eastern part of the building.

The building's decor is done in an eclectic style with elements of Art Nouveau. The monument is surrounded by buildings of 1-2 stories, while at a distance, there are taller structures ranging from 3 to 10 stories, which serve as a backdrop for perceiving the monument from different points.

Information about the activities of the Insurance Society 'Russia' in this building is virtually absent in open sources. It is known that it was a pre-revolutionary insurance company, a leader in voluntary insurance in the Russian Empire, operating from 1881 to 1919. It was the largest among Russian joint-stock companies in terms of operations and capital size, conducting insurance operations in 8 types within the Russian Empire and beyond, including Alexandria, Athens, Belgrade, Constantinople, New York, Berlin, and other cities. By the end of 1918, its capital reached 109.1 million rubles.