The first documented mention of the Lords of Kranichfeld dates back to 1143, and the town was granted town charter in 1651.
The castle complex emerged from a medieval castle used to secure the trade routes through the Ilm valley. Today you can still recognize the division into outer castle and core castle. A ring wall surrounding the castle is still partially preserved. The castle also still has the palas and the ruins of the keep. Its residential building is of Romanesque origin and was altered in the 16th century. The 27-metre-high keep, also known as the "Fat Tower", has been accessible as a viewing tower since 2002. A glass dome provides a panoramic view of the Middle Ilm Valley and the surrounding area.

As part of its "Schlösserwelt Digital & Original" program, the Thuringian Palaces and Gardens Foundation is implementing a new educational program entitled "Learning to See - Searching for Traces in the Upper Castle". This includes the revision of the permanent exhibition and the expansion of the tour information throughout the entire complex. The redesigned permanent exhibition will be on display from the start of the season at Easter 2025.
Whether the Upper Castle will open with restrictions from Easter 2024 or remain closed for the entire year is yet to be announced.