The school is believed by some to be a Rosenwald School, although there are no records to indicate that it was built using Rosenwald funds. The building's appearance is in keeping with the style of many Rosenwald schools, but as the design of Rosenwald schools were widely published, the design itself does not prove the building to be a Rosenwald school.
The Siloam School was apparently in operation until about 1947, when the county school board began looking for a new owner for the property, which was eventually sold in 1951. After being privately owned for a number of years, the building sat empty and in disrepair from the 1980s. At present, there are efforts underway to move the building to the east Charlotte campus of the Charlotte Museum of History, restore it, and open the former school for public tours.