Iota Chapter was officially established at the University of Chicago on Nov. 1, 1923 in Chicago, Illinois. Omega Psi Phi founder: Dr. Ernest E. Just attended the University of Chicago, during this time he became the first recipient of the NAACP ‘Spingarn Medal’. He was recognized for his scientific achievements and foremost, his service to his race.  Dr. Ernest E. Just was only one of very few blacks to receive a Ph.D Degree from a major university.

After 1981, due to a lack of undergraduate members in the Chicago area, Iota’s status remained inactive for nearly 14 years. In 1994, brothers Kenny Coles (Basileus), Melvin Slater (Vice Basileus), Bobby Lay (KRS), and Jeff McKamey (KF), put Iota’s reactivation in motion along with 49 brothers.  On Feb. 15, 1995, the International Headquarter reactivated Iota’s intermediate status.  On July 1995, Iota was granted re-chartering as a graduate chapter by the International Headquarter.

The brothers of Iota Chapter held its re-chartering ceremony at the University of Chicago, a school once attended by Founder Dr. Ernest E. Just.  Several members of the chapter, along with guests, were in attendance. In 1995, Awarded for reclaiming 42 brothers, Iota has consistently received awards for community service, and other projects. Iota has received awards for Distinguished Service, Assault on Illiteracy, Blood Drive, Food & Clothing Donations, and many more to follow.  Iota Chapter continues to provide “Friendship”, which “is essential to the soul.”