Chicago, Dec. 04, 2024 (GLOBE NEWSWIRE) -- Landmarks Illinois has awarded a $300,000 loan to Plant Chicago to support the Chicago nonprofit’s effort to restore a more than century-old former firehouse in the city’s Back of the Yards neighborhood. The loan, provided through Landmarks Illinois' Reinvestment Program Loan Fund, will help Plant Chicago improve the firehouse’s accessibility and energy efficiency while celebrating the building’s historic character.
Plant Chicago is a nonprofit dedicated to creating local circular economies where resources are reused, recycled and shared within a community to minimize waste. The organization operates out of a former firehouse built in 1908 and located at 4459 S. Marshfield Ave., where it provides educational programming, food and retail markets and accepts items from the community for recycling and composting.
The renovation project at the firehouse will make the building ADA-accessible, over 90 percent decarbonized and add a shared-use indoor farm. The loan from Landmarks Illinois will help support predevelopment costs associated with the project.
“The project is relying on a lot of pledges of public funding, and this loan from Landmarks Illinois will ensure that we have cash on hand to pay for work in case of delays,” said Jonathan Pereira, Executive Director of Plant Chicago. “We are lucky to have partners like Landmarks Illinois that are willing to be flexible with a nonprofit like us and think out of the box!”
The loan to Plant Chicago is the second provided through the Reinvestment Loan Program in 2024. Landmarks Illinois also awarded BandWith Chicago a loan for $500,000 in July, which supported the nonprofit’s project to transform the former Loyal Casket Building in Garfield Park into its new headquarters. Both BandWith and Plant Chicago aim to provide equal access to programs and services in the communities in which they are located.
“Plant Chicago’s work exemplifies how the adaptive reuse of historic buildings can contribute to both environmental and social progress,” said Bonnie McDonald, President & CEO of Landmarks Illinois. “We are excited to be one of Plant Chicago’s partners on its transformative project to advance its sustainability efforts and provide accessible, in-demand services to the community. With our loan, Landmarks Illinois is helping ensure this historic firehouse can continue to serve the community for generations to come.”
More about the Landmarks Illinois Reinvestment Program Loan Fund
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.
The 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 of the program help bring preservation projects closer to completion. The program is currently focused on preservation projects in historically disinvested neighborhoods on Chicago’s South and West Sides.
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. 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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