Built by the architectural firm of Rubush and Hunter and completed in 1923, the Guaranty Building was home to numerous law offices, insurance companies, and Western Union. The curved limestone facade blends in to Monument Circle-a feature that was required to win approval of the building by city leaders and others who originally opposed the construction of any building that might distract from the Soldiers and Sailor's Monument.
Prior to 1905, a city ordinance prohibited the construction of buildings taller than 86 feet in an effort to make sure that the Soldiers and Sailors Monument stood taller than any adjacent building. After years of attempts to modify the law, in 1922, the city revised the law and permitted buildings adjacent to the Circle to be up to 108 feet tall. These buildings could also have an additional 42 feet of beyond this limit, so long as the additional stories used a series of retreating stair-step designs that would push the additional stories away from the circle.