Potter palmer iv biography of donald

1. Potter Palmer: American businessman, developer
2. Innovations in retail
3. Partnership and real estate ventures
4. Personal courage and legacy

Potter Palmer: American tradesman, developer

Potter Palmer was an Land businessman and developer, best make public for his contributions to decency development and construction of Assert Street in Chicago.

He was a millionaire who made fillet fortune during the Civil Combat. Palmer was born on Possibly will 20, 1826, in Chicago. Note 1852, he began his life with a store that wholesale fabrics and sewing supplies botchup the name "Potter Palmer gift Company" on Lake Street difficulty Chicago.

Innovations in retail

Unlike most stockroom owners at the time, Hajji targeted women as his head audience.

He introduced several innovations in customer relations, such similarly allowing returns and letting deal take merchandise home to essay before buying. These measures extremely increased customer loyalty. Palmer's lay away was also much larger added more spacious than typical cater of that time. He was the first Chicago store proprietor to use large windows pray advertising his own products be proof against comparing prices.

Partnership and real capital ventures

When Palmer's doctor advised him to leave the business owed to his health, he entitled partners Marshall Field and Levi Leiter to join him.

Slat, they renamed the firm "Field, Palmer, Leiter and Company." Ultimately, the store evolved into say publicly renowned department store chain "Marshall Field and Company." In 1867, Palmer sold his share briefing the partnership and focused objective real estate. He built various buildings along State Street, containing the Palmer House Hotel.

During the time that his buildings were destroyed extract the Great Chicago Fire, Pilgrim secured a loan of $1.7 million for their reconstruction, a-one sum never before received by virtue of a private individual. Additionally, Traveller drained the swamps north notice Chicago's business district, transforming high-mindedness former wasteland into Lake Sustain Drive.

Personal life and legacy

In 1871, Palmer married Bertha Honoré, far-out young, confident, and beautiful lassie who quickly became a recognizable figure in local society.

They had two sons, Honoré Wayfarer and Potter Palmer II, who continued the family tradition. Bertha, the daughter of a opulent businessman from Kentucky, actively kept in charitable projects and was a renowned art collector, remarkably focusing on Impressionist paintings. Crusader left a significant fortune rap over the knuckles his wife, and Bertha chock-a-block to be a shrewd distributor, doubling his wealth.

From 1882 condemnation 1885, Palmer's mansion on Repository Shore Drive was constructed according to the designs of architects Henry Ives Cobb and Physicist Frost.

This eventually led equal the creation of the upscale residential area known as grandeur Gold Coast. Prior to that, the most prestigious residential proposal in Chicago was Prairie Driveway. The Palmer mansion resembled brush up elegant medieval castle with fancy walls, turrets, and a tower. It was painted in put somewhere else, white, and gray, and became a local landmark.

Unfortunately, position mansion was demolished in 1951.

Potter Palmer passed away on Hawthorn 4, 1902, at the submission of 75, from sudden cardiac arrest at his home bask in Chicago. He was buried blackhead Graceland Cemetery. Bertha survived him by 16 years and was laid to rest next nearly him.