This watermill was founded by Mate Friščić in 1928, and after his death, his son Stjepan and daughter-in-law Ana took it over with the help of his grandson Krešimir, who still runs it today.

The surroundings of the watermill used to be a land of shallow marshy soil. Mate Friščić bought the property and the watermill from his brother Roko Friščić in 1928. The mill was remodeled around 1947, the wheel was replaced by a large pool and a Francis water turbine was installed.

With the later reconstruction of the water supply network, the amount of water in the Bistrica stream was significantly reduced, so an electric motor was added to drive it. A technical report from 1929 describes the way the watermill worked and its role in the local community. The watermill was used for grinding grain and processing walnuts, oak acorns and pumpkin seeds for pumpkin seed oil.

As part of the mill, there was a Mill room, where visitors waited for their turn and socialized over music, games and autochthonous products.

This watermill stands out because next to it was the first bowling alley in Ivanec, an inn called Gostiona Planinaru, and a grocery store. The functioning of the bowling alley included placing the pins at the end of the lane, managing the game and returning the bowling balls along the concrete channel. The remains of this bowling alley are still visible today, reminding of the rich social life of upper Ivanec in the past.

The watermill is still present today with architectural traces of its history, visible through the remains of milling activities along the Bistrica stream. The modern heirs have the desire to revitalize the watermill and turn it into a cultural, economic and tourist attraction of Ivanec, thereby enriching its offer and heritage.