Lexington was founded in 1977 by three Chicago-area laywomen – Helen Healy, Nancy McCormack, and Ann Jans – who were inspired by their affiliation with Opus Dei.

[1] Before his death in 1973, Opus Dei founder Josemaría Escrivá had encouraged them to start a U.S.-based program to train women in hospitality.

[4] By 1998, the college was based at a small campus in Morgan Park that offered three classrooms, one dormitory, a one-room library, a bookstore, and a chapel to serve its approximately 50 students.

[1] By 2003, Lexington had moved to the West Loop and shared a building with an Opus Dei tutoring center.

[6] After Lexington's articles of incorporation were dissolved, all of the transcripts of its students were transferred to the Illinois Board of Higher Education (IBHE).

[10][11] The founders wanted Lexington to focus on guiding women towards professional careers while being introduced to the teachings of Escrivá and practicing service to others.

In addition to hospitality training, students took courses in liberal arts, with an emphasis on ethical and religious teachings.

[15][16] In 2007, the College Board reported that Lexington was a Hispanic-serving institution, with a student body that was 44% Black/Non-Hispanic, 39% Hispanic, 11% White/Non-Hispanic, and 6% Non-Resident Alien.