Drakoulis Mansion (Megaro Drakouli) is located at Vathi, the capital of the island, at the centre of the port and was constructed at the early 20th century. It is a large, impressive, neo-classical building with Ionic columns and impressive motifs. It is two-storied, with impressive halls and wooden floors. What makes it stand out is the small artificial lake, which lies right after the entrance and communicates through an opening under the road with the sea of the port of Ithaca. Drakoulis Mansion also operated as a cafeteria for years, from the late 1990s until 2010. Then it was closed for renovation and restoration, after the demand of the Drakoulis family that still owns it.

In the place of this building was formerly the Ithaca Province, where the observers lived and had their offices. One of the Admirals was also Andreas / Eustathios Drakoulis, father of the pioneer socialist journalist and deputy Plato Drakoulis (1858-1942).

The Drakoulis family is one of the most historic of Ithaca and is recorded in the island’s Libro d ‘Oro. The members of the family were shipowners, entrepreneurs, lawyers, teachers, priests and holders of distinct public positions. In 1923/1925, the Ithaca Electric Power Plant was inaugurated, which was entirely donated by Georgios K.Drakoulis, who provided a great amount of money for the time to complete the project. He also helped along the construction of the Ithaca cemetery.

Today, the archaeological site of Drakouli is located in the port of Ithaca and even though it is closed to visitors, it constitutes a monumental memory of both the rich history of the island and its inhabitants, waiting for a new beginning.