CHICAGO, July 24, 2024 (GLOBE NEWSWIRE) -- Landmarks Illinois is proud to announce it has awarded a $500,000 loan to BandWith, a nonprofit providing access to the performing arts in Chicago's underserved communities, for the adaptive reuse of the former Loyal Casket Building in East Garfield Park. This significant financial support provided through Landmarks Illinois' Reinvestment Program Loan Fund will help BandWith thoughtfully transform the historic building at 134 S. California Ave. into a vibrant community performing arts center.
BandWith will use Landmarks Illinois' loan to cover critical project planning costs associated with the restoration and reuse of the former casket factory, including design fees and energy efficiency and operational planning. Once complete, BandWith's new home will serve as its headquarters and provide space for free youth dance, drumline, sound engineering, instrumental and choral ensemble programs. It will also feature retail and communal spaces for partner organizations to use. BandWith plans to break ground on the project this fall, with an expected completion date in 2025.
"Our Reinvestment Loan Program has proven to be a critical addition to the preservation incentives Landmarks Illinois offers, helping spark reinvestment and reuse of culturally significant and historic places," said Landmarks Illinois President & CEO Bonnie McDonald. "We are thrilled to support BandWith's vision to revitalize a former factory to foster a vibrant cultural environment in East Garfield Park. This project will benefit current and future generations while providing invaluable opportunities for artistic expression and community engagement."
BandWith currently provides its free programming to 7–18-year-olds in donated space in East Garfield Park, which it has outgrown. Once complete, its larger home in the former casket building will enable BandWith to more than double the number of community members it serves.
"The generous loan from Landmarks Illinois allows BandWith to move forward with creating a permanent home, giving us room to grow and continue providing high-quality arts programming to strengthen and amplify East Garfield Park's presence as part of Chicago's rich cultural landscape," said Annie Palomino, BandWith's Founder and Executive Director. "The project will contribute to the well-being, growth and vibrancy of Chicago's West Side, cementing our commitment to being a lasting presence in the lives of the families we serve."
More about the Landmarks Illinois Reinvestment Program Loan Fund
Landmarks Illinois Reinvestment Program offers loans to preservation initiatives in Chicago and Illinois, where traditional financing is either difficult to obtain or unavailable. The more affordable and accessible lending terms help bring preservation projects closer to completion. A previous Reinvestment Program Loan supported Greater Chatham Initiative's effort to create its "Artist on the 9" co-working space and gallery at a historic building in Chicago's Greater Grand Crossing Commercial Historic District.
Nonprofit and for-profit organizations, building owners and renters working to preserve a historic or significant Illinois building, structure or site are welcome to apply for Landmarks Illinois Reinvestment Program loans. There are no application deadlines for Reinvestment Program loans. Loan applications are processed as received and are considered monthly by the Landmarks Illinois Reinvestment Committee.
Those interested in applying for a Reinvestment Program loan or donating to the loan fund should contact Landmarks Illinois Director of Reinvestment Suzanne Germann. The Reinvestment Program Loan Fund was established in 2018 through generous gifts from The 1772 Foundation and three individual donors. In 2023, the Richard H. Driehaus Foundation awarded Landmarks Illinois a substantial grant for the Reinvestment Loan Program that significantly increased Landmarks Illinois' capacity to lend in Chicago.
Visit our website at www.Landmarks.org/Reinvestment-Program/ to learn more about the Reinvestment Program Loan Fund.
About Landmarks Illinois
Landmarks Illinois is a membership-based, historic preservation nonprofit organization dedicated to preserving, protecting and promoting the places people across Illinois value. We advocate for the sustainable reuse of historic resources, provide expertise and free resources on preservation and work to ensure that historic places remain a vital part of the state’s communities. We are People Saving Places for People. For more information, visit www.Landmarks.org.
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