The Eleanor Women’s Foundation is selling its four-floor, 50,000-square-foot residential building at 1550 N. Dearborn to the Latin School of Chicago, in what both institutions have said is a win-win deal for them and for the community.
The 103-year-old foundation announced earlier this year that it was ending its longtime mission of offering women low-cost communal housing, and shifting its emphasis to endowing other programs that help women in the Chicago area achieve “economic independence and self-sufficiency.” The residence closed at the end of September, and the residents—which at any given time could number between 60 and 90 working women, students and foreign students—”worked over the summer and moved into their new places,” said Eleanor Foundation spokeswoman Rebecca Sive. “Everything went smoothly.”
Sive said the sale of the former residence would help the foundation expand its reach “exponentially.”
“The main thing, the big headline, is that there’s going to be a substantial new foundation in Chicago to help programs that benefit women and girls—particularly those who need help with their economic independence,” said Sive. “That kind of help is really sorely needed.”
Sive cited the “crying need” for job training, career counseling, scholarships, and other resources to help women get ahead. There are lots of organizations trying to provide such assistance, she said, but lack the funds to do very much, especially in the current economic climate.
Latin School spokeswoman Evelyne Girardet said the extra facility was sorely needed because of record increases in enrollment.
“We’ve been in very cramped quarters for a long time, trying to figure out good ways to make use of very limited space,” she said.
Since the Eleanor Foundation building was right next door, separated only by an alley, it was the “perfect piece of property” to acquire, she said.
Girardet said the additional building would be used to enhance school programs, but no concrete decisions have been made as to precisely how it will be used.
The Latin School has always sought to maintain a good relationship with the community, Girardet said.
“We’ve heard from a lot of people who say they’re very happy and relieved that ... that the school is getting the property and there’s not going to be a huge condo development,” she said.
As Inside went to press Tuesday, Nov. 13, the foundation and school were reportedly meeting to close the sale. Neither side would say how much money would change hands in the deal.
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