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Preservation Heritage Fund Grants
LPCI Fund History
LPCI’s Preservation Fund was
established in the mid-70s with seed capital from the sale of the Henry Demarest
Lloyd property in Winnetka, entrusted to LPCI by the Lloyd family. The
Preservation Fund was initially operated as a revolving fund, providing both
loans to and direct purchase of endangered historic properties. In the early
80's, LPCI used the fund to purchase, rehabilitate, and sell three rowhouses in
the historic Chicago community of Tri-Taylor. Endangered Building Grants were
added by the Board in 1982 enabling the fund to make grants to buildings “in
critical need”.
Henry Demarest Lloyd house (Wayside) 1897, Winnetka
In 1989, the Board approved a new
policy to bring greater focus to Fund activities. This policy directed 50% of
Fund assets to bring multiple preservation initiatives to a single declining
neighborhood. In the early 90s, LPCI developed The Neighborhood Initiative a
collaborative, community revitalization strategy offering much-needed technical
and financial assistance to residents and community groups on Chicago’s South
and West Sides.
The Fund’s major rehabilitation project for the 90s was two units of the 1895
Frank Lloyd Wright-designed Waller Apartments on Chicago’s West Side. Exteriors
were restored and interiors were converted into larger residential units that
were sold as mid-income residences.
(left) Tri-Taylor project, Chicago (right) Waller
Apartments, Chicago Drawing by John Eifler and Associates
In 2004, the board approved
creation of the Preservation Heritage Fund, into which the Endangered
Building Grant program was folded, to provide greater assistance to
preserve important structures and sites throughout Illinois. The
Heritage Fund will help provide bricks-and-mortar assistance as well as
help fund studies, surveys, and building assessments. The fund will also
enable LPCI to target long-term preservation initiatives that are linked
to economic development, affordable housing, and neighborhood character.
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