When Chicago artist Theaster Gates Jr bought this run down old bank for $1 he had his work cut out for him.
Crumbled and decrepit, the ageing building had a roof that was caved in, walls that were falling down and peeling paint as far as the eye could see.
He managed to raise enough funds to completely transform the building by selling off salvageable marble. After renovations had finished, the building finally opened to the public on October 6.
The building is now known as Stony Island Arts Bank and is home to various artists, scholars, archives on art history, architecture and installations. The centre is also headquarters for the Rebuild Foundation, a non-profit founded by the owner that gives back to underdeveloped neighbourhoods by providing cultural expansion.
“This is a new kind of cultural amenity, a new kind of institution—a hybrid gallery, media archive and library, and community center. It is an institution of and for the South Side—a repository for African American culture and history, a laboratory for the next generation of black artists and culture-interested people; a platform to showcase future leaders—be they painters, educators, scholars, or curators,” Gates said in a press release.