Atlantic was founded in October 1868 by Franklin H. Whitney, B.F. Allen, John P. Cook, and others. While historians cannot agree on how Atlantic got its name, local legend tells that the founding fathers estimated that the town was about halfway between the Pacific Ocean and the Atlantic Ocean, so it led them to flip a coin and, clearly, Atlantic won. The nearby Rock Island Railroad was important in deciding the actual location of the town, and to this day, the old depot sits at the north end of Chestnut Street. Today, the depot serves as the offices of the Chamber of Commerce.