The founding of Greeley School was the result, not only of the successful development of southeast Winnetka, but also the decision of the Board of Education that the younger children of the community would be better served in a neighborhood school setting as opposed to a centralized school, a philosophy that continues to be viable today. In 1911 the Winnetka School Board determined that the Horace Mann school could no longer accommodate the growing population of the Village and that its location, in the area of the current post office, was geographically undesirable for the younger children to the east as there was great concern regarding their safety in crossing the railroad tracks. The Board had acquired property on Fairview between Hawthorn and Elder Lane around 1908 and in 1911 proposed to the Village that a school be built at the site. The architectural firm of Otis and Clark designed an eight classroom, two story brick building with the entrance facing the intersection of Hawthorn and Fairview. The school originally housed children from kindergarten to fifth grade.

Today, Greeley School is the oldest operating public school in Winnetka. Its growth and physical changes through the years mirror the continued commitment of the community to the concept of neighborhood schools and the importance of providing the type of setting that enhances the educational opportunities of the children in Winnetka.