The time period refers to a particular location in Wichita, Kansas, believed to be a residential property. It is primarily a descriptor combining an aspirational moniker with a geographical identifier, pinpointing a spot inside the metropolis limits.
Understanding its significance requires contemplating native context. It may characterize a high-value property inside the Wichita actual property market, or maybe carry a novel architectural design that justifies the “palace” designation. Historic relevance would possibly stem from a connection to notable residents or occasions inside the metropolis’s previous, contributing to its general perceived worth and significance.