It currently has no physical facility but maintains a website, which allows anyone to visit the Hall of Fame at any time. However, the city continued to sponsor the hall of fame after the first year. Clarence Wood, of the Chicago Commission on Human Relations did not want to continue city sponsorship of the hall of fame after its first year. Daley hosted the ceremony and afterwards, photos of the inductees were displayed in city hall.

The hall of fame is the first 'municipal institution of its kind in the United States, and possibly in the world.' The first ceremony took place during Pride Week and was held at Chicago City Hall. The Chicago Gay and Lesbian Hall of Fame was created in June 1991.