Erected in 1927, the Victory Monument, is a bronze and granite sculptural monument, based on a concept by John A. Nyden, and sculpted by Leonard Crunelle. It was built to honor the Eighth Regiment of the Illinois National Guard, an African-American unit that served with distinction in France during World War I. It may be the only memorial statue dedicated to African-American soldiers of the Great War.

The 370th Infantry Regiment was the designation for one of the infantry regiments of the 93rd (Provisional) Infantry Division in World War I. Known as the "Black Devils", for their fierce fighting during the First World War and a segregated unit, it was the only United States Army combat unit with African-American officers. In World War II, a regiment known as the 370th Infantry Regiment was part of the segregated 92nd Infantry Division, but did not perpetuate the lineage of the 8th Illinois or World War I 370th, only sharing its numerical designation.