July 11, 2023
Landmarks Illinois is excited to share the news it has received a $1 million grant from the Richard H. Driehaus Foundation to help provide more and larger low-interest loans through its Reinvestment Program Loan Fund. The grant will make it possible for Landmarks Illinois to exponentially increase its impactful lending work supporting community-led preservation projects and spark reinvestment in places that matter to people all across Illinois.
Landmarks Illinois’ Reinvestment Program Loan Fund is the only low-interest loan program of its kind that specifically supports historic preservation in our state. The loan fund provides more accessible lending terms where unconventional financing may be unavailable, making the reinvestment and reuse of our historic places more attainable to more people.
The Reinvestment Program Loan Fund program was established in 2018 through a generous donation from The 1772 Foundation. The new $1 million grant from the Richard H. Driehaus Foundation will make it possible for Landmarks Illinois to significantly increase its capacity to lend to historic preservation projects in the city of Chicago.
“We are grateful and deeply honored that the Richard H. Driehaus Foundation sees our impactful lending work as a part of Mr. Driehaus’ philanthropic legacy,” said Bonnie McDonald, President & CEO of Landmarks Illinois. “The foundation’s generous grant to our Reinvestment Program Loan Fund will transform our capacity to support community-led preservation projects needing additional funds to move forward. Helping people save the places that matter to them and to their community is an investment in much more than the building — it supports the enduring capacity for people to shape the future of their neighborhoods.”
The grant is among the five largest that the Driehaus Foundation has ever awarded. Read the Driehaus Foundation’s announcement to learn more on this exciting news. You can also read the Chicago Tribune’s article, “Driehaus Foundation awards $1M grant to Landmarks Illinois,” which broke the news to the public.
Learn more about the Landmarks Illinois Reinvestment Program Loan Fund below.
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