A February 1928 bond issue provided funds for the purchase of a four acre plot for $8,000 on which a school was to be built to serve the Iveland sub-division area. Two additional lots were added to the site in 1935 and 1950 for the sum of $11, completing the present 4.8 acre site. A permanent one-story, four-room building was built in 1936.
In 1949, Iveland received an addition to the school and expansion of the site to the south, and in 1956 an addition for more than $250,000 was begun, followed by a smaller one completed in 1964 for $81,000.
Passage of the 1990 bond issue enabled the demolition of part of the old building in 1991. Additions totaling $2,471,300 were completed during that time. A library renovation, made possible by the 2008 Proposition K bond issue, was completed in 2012.
Since its inception, Iveland has had eight principals. Lilian Kegelman served longest with 33 years from 1936 to 1969. Amanda Connelly is the current principal.