According to their web site, it was established in 1921 by a group of Glencoe residents and the front nine was built in 1922 on the Cook County Forest Preserve land, using funds from those Glencoe residents. The back nine was constructed in 1930 on land owned and added to by the Village of Glencoe adjacent to the golf course.
I'm not sure, but I wonder if the back nine was one of those new deal golf courses, given the timing. The front nine may be a home made affair. They always did have sort of different character, with the front nine going back and forth more than the back that has some gentle doglegs that seemed like a more professional routing.