This photo image appears in The Chicago Architectural Exhibition League's Year Book... and Catalogue of the Thirty-seventh Annual Exhibition, 1924 (Chicago: the League, 1924), unpaginated.  The jury of admission included Walter Frazier, Chester Walcott, and Irving K. Pond, all architects who contributed designs to Lake Forest, with Pond deisgning the 1893 Lake Forest Academy campus, after 1948 part of Lake Forest College (south Campus).  The League was comprised of representatives of three Chciago groups: the Chicago chapter of the AIA (Alfred Granger, president and representative to the League; later a partner of Lowe & Bollenbacher), the Illinois Society of Architects, and the Chicago ARchitectural Club (Pierre Blouke, president, and associated in 1924 with Walter Frazier--see the 2009 book on Frazier and his firm by Kim Coventry and Arthur H. Miller).  

This building, the Kalo Shop Building, being taller than it is wide, exemplifies the Georgian/classic manner of managing height with two bands dividing the three main blocks: the base (in effect) or ground floor, the column (in effect) or floors above the base, and the capital (in effect) or top floor and attic.  Soemtimes the middle section is expanded for more floors, or was in this period.