By 1905, the mining era was over and Lake City entered a decades-long period of economic decline. Population figures hovered at 1,000 then dropped to 400 after 1910. Although mining continued throughout the twentieth century, it consisted primarily of exploration and speculation rather than productive operation. Beginning in 1915, visitors began coming to Lake City for the entire summer season, and by the 1930s tourism had emerged as a viable industry. Although a number of properties were lost to fire or deterioration, the prolonged slump protected many of the town's historic properties from substantial alterations or from demolition as has occurred to many other 1870s buildings in Colorado.
By 1905 the mining era was over and Lake City entered a decades-long period of economic decline Population figures hovered at 1000 then dropped to 400 after 1910 Although mining continued throughout the twentieth century it consisted primarily of exploration and speculation rather than productive operation Beginning in 1915 visitors began coming to Lake City for the entire summer season and by the 1930s tourism had emerged as a viable industry Although a number of properties were lost to fire or deterioration the prolonged slump protected many of the town's historic properties from substantial alterations or from demolition as has occurred to many other 1870s buildings in Colorado