Driehaus Foundation Announces $1 Million Grant for Landmarks…
Summary
We are pleased to announce a $1 million dollar grant for Landmarks Illinois to expand an innovative program providing low interest loans for preservation and rehabilitation of existing buildings in Chicago neighborhoods, especially those in communities underserved by traditional financial institutions. The Foundation is honoring our late founder, Richard H. Driehaus, and his extraordinary legacy of philanthropy by awarding transformational grants to support the causes he cared about most like Landmarks Illinois. Landmarks Illinois serves as a patient lender with flexible payoff terms and significantly below-market interest rates. In addition to the low interest loan, Landmarks Illinois also provided its expertise and technical assistance to successfully navigate the preservation construction process. We look forward to many other future success stories now that Landmarks Illinois has the resources to expand the loan program to more Chicago neighborhoods.