Wallace Lounge died in a flood during Winter Term 2007. There are plans to recarpet it, but the administration is unsure if funds will be available. The lounge used to be a bowling alley.
According to Elaine Wilson, President of the Student Senate, Wallace Lounge will be completed by the beginning of Winter Term '09. She's a liar.
 Plans for Remodel
Student Senate has appointed an ad hoc committee to discuss new plans for Wallace Lounge. It has so far met thrice, on 2, 9, and 24 May 2007.
At the first meeting the committee decided that the two rooms in Wallace Lounge should be combined, that some new sort of Dining Services outlet should be installed (such as a pizza parlor or coffeehouse), and that comfortable seating, televisions, and whimsical decorations should abound.
At the second meeting the committee was joined by Scott Maust, Craig Southern, Tom Axtell, Steve Farris, and Xavier Romano. It was noted that, in order to perform significant remodeling such as removing the dividing wall or installing water and exhaust lines for a kitchen, the City of Galesburg would require that, pursuant to state law, all of Seymour Hall be outfitted with fire suppression sprinklers (which will be required anyway by 2013). Furthermore, the college has too little money to install sprinklers now, or even to do a full contracted-out remodel without the sprinkler requirement. Discussion proceeded on the basis of creating a partial solution, completed by in-house Facilities Services staff, that may open as early as Spring Term 2008. The Committee decided to run the concepts by the Executive Staff and to propose to them that architect Bob Johnson (who also created the plans for renovating Hamblin Hall) be retained to develop architectural plans.
At the 24 May meeting the committee sat down with the architect and discussed ideas. There was some amount of discussion about the level of flexibility to be available for events with regard to moving furniture. Television numbers (one versus several), types (flat screen, projection, theater style) and placement were discussed. The architect inquired about various architectural features of Wallace Lounge and their planned incorporation. It was determined that the Free Store would most likely be relocated. The concept of providing patio seating space was floated. The architect and the interior designer who accompanied him estimated that plans would be made available for committee review by the beginning of July, and all agreed that the most aggressive and optimistic timeline would slate an opening of the renovated Wallace Lounge for the beginning of Spring Term 2008. At the end of the meeting, Committee Chairman AJ Ross, who is graduating, handed off chairmanship of the committee to Brad Middleton, the incoming Student Senate President.
 Remodel Accomplished
On March 25th, 2011, Wallace Lounge was reopened as The Roger Taylor Lounge, a hangout/study space, complete with two pool tables, a foosball table, an air hockey table, several big-screen TVs and a Nintendo Wii.