E.L.M. Department Store began in 1930 when J. Ira Eshleman lost his contract providing bus services to the local school district. Seeing opportunity out of adversity, he repurposed his buses into traveling "stores-on-wheels" and delivered local produce and soft goods right to the customer's doors. Business grew and eleven years later Eshleman, together with his sons Charles and John and sons-in-law David Lehman and Norman Martin, bought the Ryder Building on Greencastle's square. There they opened a full department store, pulling its title from their three last names: Eshleman, Lehman, and Martin.
E.L.M. has proved itself able to adapt to shifting markets. Throughout its 70+ year history the building on the square has housed everything from clothing and shoes to groceries and hardware, books and records to dry goods, sewing machines and paints to a full-service tailor shop. By the 1990's E.L.M. Department Store had entered its current state as a full-service family clothing store specializing in Big and Tall men's sizes, ladies' casual and dress wear and accessories, and children's clothing and gift items.