From the Vault: Backstory of historic property in Winnetka that will soon welcome new building

In November, the Winnetka Village Council gave the final go-ahead to a major overhaul of maybe its most visible corner.

JPMorgan Chase’s plan to demolish and rebuild its two-story building at 791 Elm St. (northwest corner of Elm and Green Bay Road) has been in front of village officials since the summer of 2023, when the council requested a revamped design. In June of this year, the council gave a preliminary OK to Chase’s proposed three-story development with a first-floor bank (8,500 square feet) and two floors of corporate office space (18,000 total square feet).

Final approval was granted on Nov. 12.

“Winnetka is more than a place where we do business; it is home to our customers, clients and employees,” said Maria Holmes, regional director for Chase, in a statement. “The Chase branch on the street level of this beautiful new facility will combine the personal service of a local bank with the world-class talent and services of a global financial institution.”

The site is a part of North Shore history, serving as the area’s first bank starting in 1894. The Record is publishing the following story on the history of the land at 791 Elm St., written and submitted by The Winnetka Historical Society.

Historic Bank Site: 791 Elm

By Meagan McChesney, Ph.D, Winnetka Historical Society curator

The Chase Bank at the northwest corner of Green Bay and Elm may seem like a typical bank building, but the site holds an important place in Winnetka’s history.

The commercial history of the site dates back to 1855, when early settler Riley M. Graves opened a general store there. In 1875, Robert Moth purchased the store from Graves and in 1882, Moth sold it to Max Meyer, who lived in the house now located at 455 Chestnut.

While Meyer continued to sell groceries and goods at the store, he had a grander vision for the historic shop. In 1894, Meyer founded the North Shore’s first bank, the Bank of M. K. Meyer, inside the store.

Over the years, Meyer found the banking business to be lucrative and when a fire destroyed the original building in 1912, he decided to focus on banking. He rebuilt a new Bank of M. K. Meyer building on the site and five years later, changed the name of the bank to the Winnetka Trust & Savings Bank.

After Meyer’s death in 1937, his son-in-law, Herbert K. Humphrey, took over as chairman of the bank. In the early 1960s, Humphrey oversaw the demolition of the second bank building and in 1964, the current bank building was constructed. In 1967, Max Meyer’s grandson took over for his father as chairman and in 1970, renamed the bank the Winnetka Bank.

The banking business at 791 Elm remained in the Meyer/Humphrey family until 1989 when it was sold to First Chicago Corporation and was renamed First Chicago Bank of Winnetka. It has been a JP Morgan/Chase-owned bank for almost two decades.

The current bank building has been a hallmark feature of Winnetka’s business district for almost 60 years. It was designed by prominent architectural firm Mayo & Mayo, who designed several notable structures in Chicago and beyond. In Winnetka, they also designed 140 Sheridan, 593 Arbor Vitae, and 419 Sheridan, which is a Winnetka Designated Landmark.

The Mayo & Mayo designed bank building is now up for demolition. While the current building may not be here for much longer, the significance of the site will certainly remain.

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