 In 2013, artist Theaster Gates convinced Chicago Mayor Rahm Emanuel to sell him the Stony Island Trust and Savings Bank for $1 days before its scheduled demolition. The Rebuild Foundation, Gates' nonprofit dedicated to activating underused spaces with arts and culture, then set about restoring the building after 30 years of vacancy and converting it into a gallery, library and art center. Designed by William Gibbons Eufendell, the bank opened in 1923 and operated for nearly six decades, anchoring the then bustling Stony Island Avenue on Chicago's south side. Its restoration has been one of the city's most dynamic preservation projects, repairing the crumbling facade and stabilizing and reconstructing the interior down to the flooded basement vault. The space opened in October 2015 as the Stony Island Arts Bank, which houses art exhibitions and cultural programs. The Arts Bank has hosted more than 13,000 visitors since reopening and has established itself as a neighborhood anchor once more.