Potter Palmer

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Potter Palmer (1826 - 1902) was a Chicago businessman who was responsible for much of the development of State Street.

In the year 1842,from the county Antrim, there left Belfast, Ireland , Potter Palmer accompanied by his cousin Nancy(nee Nancy Palmer)and her husband William Henry Sean Black,their two sons, John and Thomas and their daughter Nancy.They embarked in a sailing ship and after three weeks arrived in Montreal, Lower Canada.[J.C.Black M.D.- History Oct.29,1935]

The new settlers again embarked in boats and traveled up the St.Lawrence River until they arrived at a place where Prescott, Ontario now stands. Henry Black with his two sons and daughter disembarked and immediately set out to establish a homestead. Potter Palmer, the cousin of Mrs. Wm.Henry Black, did not stop with his relatives but proceeded up the river to the Great Lakes and settled in the little town of Chicago with the intent of setting up a hotel business.[J.C.Black M.D.- History Oct.29,1935]

Potter Palmer founded a dry goods store on Lake Street in Chicago in 1852, eponymously named Potter Palmer and Company. Unlike many stores of the time it focused on women and encouraged their patronage. Palmer also instituted a "no questions asked" returns policy, which served to nurture the goodwill and patronage of Chicagoans.

When Palmer's doctor urged him to get out of the business in 1865 because of ill health, he brought in partners Marshall Field and Levi Leiter. The trio joined forces and renamed the firm Field, Palmer, Leiter and Company. In 1867 sold his share of the partnership and focused his efforts on his real-estate interests, leasing a new building to his former partners in 1868 at State & Washington. He built several buildings along State Street on property he owned, including the Palmer House Hotel. When his buildings were destroyed in the Great Chicago Fire, Palmer borrowed $1.7 million to rebuild, the largest amount loaned to an individual up to that time.

In 1871, he married Bertha Honoré. In 1874, she gave birth to son Honoré, and in 1875, she gave birth to son Potter Palmer II. Both sons went on to have sons named Potter Palmer III, as well as other children. [See Who's Who in Chicago (1931).]

Palmer built a castle for her on Lake Shore Drive in 1885, leading to the establishment of the "Gold Coast". Prior to that time, Prairie Avenue was the most desirable address in Chicago.

Palmer is buried in Graceland Cemetery.