Lincoln Terrace Art Studio and Gallery was founded in 1997 as a venue to exhibit works of several generations of Russian born artists. Over time exhibitions expanded to include paintings of contemporary American and European artists whose work gallery finds artistically significant. In addition, the gallery displays a collection of prints and lithographs by master artists from the 19th and 20th century.

Lincoln Terrace Gallery represents the estate of Chaim Livchitz. An important Russian realist painter whose work in the genres of composition, portraiture, and landscape has been recognized with numerous exhibitions, awards and personal and museum commissions.

Among gallery artists, Leonid Osseny works in a variety of styles many of which are informed by his years of work as a professional architect and restorer. Michael Livshultz focuses on figurative drawing and terra cotta sculpture, while Paul Abelsky uses various visual media to create a record of his travels. Working in New York, Jacob Livshultz has created and exhibited abstract paintings often reinterpreting recent themes in contemporary art.
Guest artists who exhibited their work at Lincoln Terrace include veteran Chicago artist Judith Roth, Czech impressionist Michael Schegol, and established St. Petersburg painter Aron Zinstein.

Lincoln Terrace Arts also functions as a working studio offering art instruction and advising to the patrons of different ages. It focuses on teaching fundamentals of representational painting and engendering a broader appreciation of the arts.