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8-628: Chapman Building, originally named Los Angeles Investment Company Building after the Los Angeles Investment Company who built the building, was designed by in-house architect Ernest McConnell and built between 1911 and 1913. In 1913, Globe Savings Bank moved its headquarters to the building. Charles Chapman , the former mayor of Fullerton and first chairman of the board for Bank of America , bought Chapman Building for $ 1.6 million in 1920 ($ 24.3 million in 2023) and then headquartered Bank of America there. In 1979,

16-567: A period of rapid growth in Los Angeles. The company gained prominence by designing and constructing affordable " Modernized Bungalows ", which were well-suited to the local climate. These homes featured in the LAIC’s publication, Modern Homes of California , which showcased architectural designs and construction details, appealing to families looking for cost-effective housing solutions. LAIC’s ambitious projects were supported by its subsidiary,

24-543: Is made of steel-framed concrete with a terra cotta and brick facade . The building is divided into four sections, three of which are above the bottom two stories, and features a Beaux Arts design that includes fluted columns , heavy cornice , and ornamental bands and moldings . Chapman Buidling's interior features marble staircases and expansive hallways highlighted by tiled floors, marble walls, and metal doors. Los Angeles Investment Company Founded in 1899 by Charles Abbott Elder and his partners,

32-665: The Broadway Theater and Commercial District was added to the National Register of Historic Places , with Chapman Building listed as a contributing property in the district. In 2007, the building was listed as Los Angeles Historic Cultural Monument #899. The building was converted to a 168-unit condominium complex in 2007, but before the condos were sold they were switched to for-lease apartments. The entire project took more than two years and $ 30 million ($ 45.3 million in 2023) to complete. Chapman Building

40-656: The Elder Building Material Company , which provided necessary construction materials for the development of entire neighborhoods. Through this business model, the LAIC expanded quickly, becoming one of the largest cooperative development companies in the region by the early 1910s. Despite their early success, the LAIC faced financial difficulties in the mid-1910s, culminating in the sale of their iconic headquarters building at Eighth and Broadway in Los Angeles to Charles C. Chapman in 1920. Nonetheless,

48-458: The Los Angeles Investment Company (LAIC) quickly established itself as a significant player in real estate development across Southern California. Elder envisioned an approach that made homeownership accessible to middle-class individuals, relying on a model where small investors could pool funds to support large-scale property development. By promoting installment payment options, LAIC allowed everyday citizens to become homeowners, especially during

56-544: The company left a lasting impact on the urban landscape of Los Angeles by helping shape the city’s suburban housing market and contributing to the spread of bungalow-style homes. In 1913, buoyed by the completion of the Los Angeles Aqueduct, the LAIC embarked on an ambitious real estate project in Baldwin Hills, part of land previously owned by Elias J. "Lucky" Baldwin. Elder envisioned creating one of

64-404: The largest and most impressive residential developments in Los Angeles, consisting of thousands of homes, parks, and schools, with an estimated investment of $ 15 million in improvements. However, financial difficulties soon arose. Despite his optimistic public statements, Elder's ventures began to falter, leading to a suspension of dividends and declining stock values. By the end of 1913, the LAIC

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