![]() By 1878, the Academy was $10,000 in debt. Attempts to continue despite the loss by using rented facilities failed. ![]() When the Great Chicago Fire destroyed the building in 1871 the Academy was thrown into debt. The Academy's success enabled it to build a new home for the school, a five-story stone building on 66 West Adams Street, which opened on November 22, 1870. The Academy's charter was granted in March 1867.Ĭlasses started in 1868, meeting every day at a cost of $10 per month. The organization was modeled after European art academies, such as the Royal Academy, with Academicians and Associate Academicians. In 1866, a group of 35 artists founded the Chicago Academy of Design in a studio on Dearborn Street, with the intent to run a free school with its own art gallery.
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