Rebuild on historic bank site underway in Winnetka

A vast, rubble-filled hole in the ground was the backdrop for a ceremonious groundbreaking on a frigid Tuesday afternoon in Winnetka.

Officials from the Village and JPMorgan Chase welcomed guests to the evolving site at 791 Elm St., the northwest corner of Elm and Green Bay Road, where a three-story JPMorgan Chase facility is in development.

The new bank and office building is replacing its two-story predecessor and its trademark clock that had become a charming sight in town.

“A lot of people sad to see it go,” Village President Chris Rintz said about the previous building, “but in partnership with Chase, we were able to finalize a design that really fits a forward-looking Winnetka and still holds on to some of the history and hometown feel we’ve all come to appreciate living here.”

Local business on the historic property dates back to 1855, and in 1894, Winnetka’s — and the region’s — first bank was built there, as well.

The new project calls for a new three-story development that will include 8,500 square feet of retail banking and lobby area on the ground floor level and 18,000 square feet of corporate office space across the second and third floors, according to previous Record reporting.

The site will also include 31 parking spaces — seven of which will be located at street-level while 24 will be underground.

Representatives from Chase first pitched their redevelopment plans to Winnetka officials in June 2023. Trustees, at the time, delivered a mixed review of the project, as they supported the idea to reimagine the building but offered feedback to revise the proposed design, height and parking arrangements.

After design adjustments, the plans gained final approval on Nov. 12, 2024.

Jaime Freeman, a Winnetka resident who runs Chase’s local private bank team, acted as emcee for the ceremony and said the new facility will double Chase’s workforce at the location.

“Seeing the significant investment that JPMorgan Chase is making in this community is really meaningful to me on multiple levels,” she said. “… We’re really looking forward to doing great things on the North Shore.”

The Record is a nonprofit, nonpartisan community newsroom that relies on reader support to fuel its independent local journalism.

Subscribe to The Record to fund responsible news coverage for your community.

Already a subscriber? You can make a tax-deductible donation at any time.