Libby is located 13 miles north of McGregor, and 16 miles south of Jacobson.
Aitkin Lake is located near Libby, stocked with black bullhead, black crappie, bluegill, brown bullhead, hybrid sunfish, largemouth bass, northern pike, pumpkinseed, tullibee (cisco), walleye, yellow bullhead, yellow perch, bowfin (dogfish), shorthead redhorse, white sucker, golden shiner and minnow.[2]
The community had a post office from 1891 to 1953.[3]