Old Albany is the remnant of an 1850s settlement by a group from Albany, New York. Albany continued to grow after the Civil War. They had a post office, hotel, boarding house, livery stable, blacksmith shop, grocery store, creamery, sawmill, and a millinery store.
The Albany Historic Museum building was formerly the Albany Rural School District No. 1, Brown and Nemaha. The two story limestone building was built in 1867. School was first held in the new building during the 1867-1868
Three public parks, a public swimming pool, four baseball/softball/soccer fields, tennis and racketball courts provide recreation for the community. Two campgrounds with pools, cabins and camping facilities are located nearby.