Neighborhood Bank Buildings, Group 1

“During the first-half of the twentieth century, Illinois state law prohibited banks from opening multiple branches to prevent the growth of banking monopolies. Consequently, independent neighborhood banks played an important role in the development of Chicago by providing financial services and building and business loans.”

“Calumet National Bank features an unusual use of Classical Revival-style ornamentation—including two-story piers topped with large acanthus leaves. The Swedish American State Bank is a highly sculptural building that displays great creativity in its use of traditional Classical motifs.”

“They represent the work of prominent architects, and all are exceptional examples of architectural styles significant during the years of their construction. As a group, they represent some of the finest historic architecture found in Chicago's neighborhoods.”

“These “cities within a city” met the basic needs of residents, who saw no reason to travel downtown regularly. During the first half of the twentieth century, Illinois state laws prohibited banks from opening multiple branches.”

“To maximize valuable real estate, some bank buildings incorporated multiple, income-generating uses into the overall design. At the Belmont-Sheffield Trust and Savings Bank (above), the banking hall originally occupied the central part of the first two stories, while the remaining area of the second floor and the entire third floor was used for rental offices.”

“They are more than clearing houses of their respective community. In most cases they are the community centers as well. On the evenings in the hours these banks open their doors to the public, hundreds of thousands of people assemble to transact their banking business.”

“By 1933, President Franklin D. Roosevelt concluded that only a national “bank holiday” would restore the system. Soon thereafter Congress changed most of the banking laws, and the Federal Deposit Insurance Corporation (FDIC) was established.”

“A monumental and highly ornamented Classical arched entrance is the most notable feature on the Belmont-Sheffield Trust and Savings Bank at 1001 W. Belmont Avenue, a building that otherwise resembles a handsome commercial block.”

“This visually distinctive ensemble of neighborhood bank buildings illustrates the architectural quality and high design that typified bank architecture in America in the 1910s and 1920s. Each serves as a prominent visual landmark within its neighborhood context, and each features excellent craftsmanship in both details and materials.”

“The Belmont-Sheffield Trust and Savings Bank is a handsome commercial block with a monumental arched entrance on Belmont that stands as its most prominent Classical feature. The three-story entrance is flanked by freestanding Ionic columns and topped by a triumphal arch surrounded by stylized ornamentation in low-relief.”