Wall modules are formed with a steel upstanding support module having integrally formed vertical spaced apart support components with forwardly facing panel support surfaces. Utility channels are fabricated into the upper and lower regions of the support module and a horizontal panel lower support with an upwardly facing platform is provided about the lower portion of the module. A baseboard which is removable provides access to a lower utility channel. Thin, typically flexible panels having strip magnets adhesively bonded to the rearward surface about their periphery, are positioned such that the lower edge of the panel is abuttibly compressibly engaged with the platform and the panels are held in verticality by the magnetic interaction of the strip magnets with the flat module panel support surfaces. The decorative panel magnetic mounting approach may be expanded to preexisting facility walls utilizing a wall-borne lattice system.