This is quite a jump from where Driehaus began. We know that informed communities are empowered ones. He was 78. He was 78. His passion for investing continued and he grew to become the legend and pioneer we all know today. Richard is a Chicago legend and icon a great rags-to-riches, neighborhood-kid-makes-good success story, and one of the most generous and eclectic philanthropists in Chicago, Shaw said. International Network for Traditional Building, Architecture & Urbanism Throughout, there is a profusion of exquisite details and materials such as multicolored marble columns and balustrades, carved and inlaid wooden mantels (every room has a fireplace) and doorways, art-glass windows, decorative mosaics, and ornamental brass grilles and railings. The idea is to display the period, the materials and objects, and to organize that as a whole experience. Its one of the grandest 19th-century houses in the country, says Kirby Talley, the Amsterdam-based curator and author whom Driehaus hired in the fall of 2003 to oversee the restoration. The father of one of the teens said his daughter had died. Jens Jensen Award, Chicago Park District, 2005 Inspired Partnerships The results have fueled both Driehauss lifestyle and his philanthropy. On behalf of the Museum and its Board of Trustees, as well as the Driehaus family, we want to thank you for your support of this institution that is so much a part of Mr. Driehaus legacy in Chicago and beyond. It is presented annually in Madrid, Spain. The Driehaus Prize started out as a little adventure when an old friend suggested I visit the University of Notre Dame, the Chicago philanthropist recalled, I was astounded to learn that yours was the only college teaching classical architecture in the country. The work of traditional architects and urbanists ought to be rewarded, uplifted, and celebrated, Driehaus thought, as only then could the winds in the architectural profession begin to shift. I hear it all the time from people involved in planning parties or charitable events, says the author and socialite Sugar Rautbord. Committee for the Beautification of Lake Geneva He said Mr. Driehaus had suffered a cerebral hemorrhage the night before at his home. Community Foundation of the Virgin Islands Now Playing:Big George Foreman and Beautiful Disaster, Carnival Shooter Licensed to Carry Firearm, Held on $1M BailThe man charged with gunning down 54-year-old Alrick Thomas after the St. Thomas Carnival Adults Parade Saturday night is being held on $1 million bail after his appearance at a hearing in Superior Court on Monday before Magistrate Simone Van Holten-Turnbull. After one organization dedicated to preserving and maintaining houses of worship went under, Driehaus carried that mission forward in 2008 by funding a Chicago office for a national organization with a similar mission, Partners for Sacred Places. The $100,000 award, which is administered by the University of Notre Dames School of Architecture, is the classical equivalent of the Pritzker Prize. But soon afterwards, Driehauss parents came to the crushing realization that they couldnt afford to build it as his fathers career was bound up in the faltering coal industry. Richard Driehaus and Inese Romanovska. Our wealthiest socialites and marshals of high culture are characterized by ugliness: moral, aesthetic, and cultural uglinessan altogether tasteless bunch, often enough. He is not a household name, but the firm he. Friends of the Parks Most notable of all his eponymous awards is the $200,000 Driehaus Architecture Prize, established in partnership with the University of Notre Dame School of Architecture in 2003. Archi Treasures Mr. Driehaus used to say his life was influenced by his fathers difficulty affording a nicer home. I was the one who would be out dating, and he would wait up to make sure everything went well., He always had a strong aesthetic sense, she adds. Find out where to go, what to eat, where to live, and more. Billionaire J. Christopher Reyes and his wife, Anne, have been revealed as the buyers of a Lake Geneva mansion once owned by late financial executive Richard Driehaus. You cant make an impact in New York. The museum, housed in an opulent neoclassical mansion on Chicago's Near North Side, is devoted to art . The inaugural recipient of the award was Lon Krier, the renowned architect, advocate of traditional urbanism, and designer of Charles, Prince of Waless model town, Poundbury. The American Ideas Institute is a nonprofit, non-partisan 501(c)(3) organization based in Washington, D.C. 2022 The American Conservative, a publication of The American Ideas Institute. . . (Driehaus would also cite it as the reason for his purchase of a Queen Anne rowhouse in the Gold Coast neighborhood, his residence of many years.) The Collection of Richard H. Driehaus, Chicago, 40016. AIA Presidential Citation, The American Institute of Architects, 2006 USA Midwest Province of the Society of Jesus, PUBLIC INSTITUTIONS In 1982 he formed Driehaus Capital Management LLC, aninvestment advisory firm widely known for expertise in growth-oriented equity and alternative investment strategies. The Archimedia Workshop 2020 Chicago magazine / A Chicago Tribune Media Group website. At his birthday party last summer, Driehaus concluded his remarks by quoting two 19th-century eminences who, collectively, sum up his approach to the art and business of historic preservation. Awards sponsorship, including the The Richard H. Driehaus Foundation Award for Architectural Excellence in Community Design, The Richard H. Driehaus Foundation Bungalow Awards, Faith in Community Awards, and The Richard H. Driehaus Foundation Preservation Awards. Chicago Sun-Times A devoted philanthropist as well, he saw philanthropy as a form of inquiry. Somebody has to stand up for the classical buildings., I have enormous respect and admiration for the way Richard has put his money where his mouth is in terms of trying to uplift design, says Blair Kamin, the Chicago Tribunes Pulitzer Prize-winning architecture critic. A man with a multitude of interests and causes, Mr. Driehaus made a significant impact in both business and charity. Hauenstein Center for Presidential Studies (Eisenhower Memorial) By then, the house had an air of genteel decline. Richard H. Driehaus (1942-2021) It is with deep sadness that we share the unexpected passing of Richard H. Driehaus of natural causes on March 9, 2021 at the age of 78. In addition to reading, writing, and arithmetic, he says, they taught me three thingsyou have to continue to learn your whole life, you have to be responsible for your own actions, and you have to give something back to society.. While the Pritzker Prize has had a strong tendency over the decades to reward modernist architectsfrom Frank Gehry to Gottfried Bhm (among other works, architect of the ghastly, brutalist Mary Queen of Peace church in the Diocese of Cologne, Germany) and Tadao Ando (designer of the formless Church of the Light)the Driehaus Prize looked to reward more traditionally minded architects. Old St. Patricks Church See MoreSee Less, If license to carry, how is it unlawful to have ammo , Them don't need to be in jail execute them. Katie had organized a Christmas choir with children from The Port Ministries after-school program in Englewood, and Driehaus decided to donate to help her continue her effort. He is an expert in value investing, a style of investing that focuses on finding undervalued stocks. His vision and generosity having touched these . Benjamin Marshall Society A home would not be . His first taste of the financial markets began at 13. The Chicago philanthropist would later point to the Queen Anne that never was as one catalyst for his preoccupation with the built environment. Honorary Member, The Cliff Dwellers, 2018 Richard H. Driehaus Founded Driehaus Capital Management LLC. Archeworks For Driehaus, the coherence and order of classical architecturein both its ancient and neoclassical revival formscombined with traditional urbanism, stood against the cold and uninviting modernist-aesthetic flattening of the built environment that so firmly gripped the 20th-century (lack of) imagination. (He demurs when asked what he thinks of the building.) The loss of revenue from Driehaus and other financial services business owners due to the changed residency requirement was projected by a 2005 PricewaterhouseCooper reportthat foresaw the loss and projected it to be conservatively in the neighborhood of $110 million due to the regulatory changes. From modest beginnings to being named by Barrons as one of the 25 most influential individuals within the mutual fund industry over the past 100 years, he never forgot his roots. Whether you knew him personally, or only knew of him through this Museum or his other philanthropic activities in Chicago, it should be clear that supporting the arts and culture in this city was as essential to Mr. Driehaus life as his business activities. Local Initiatives Support Corporation Barron's calls him "one of the most influential individuals within the mutual fund industry in the past century.". INTBAU Visionary Supporter Award, presented by HRH Prince Charles and the More On the Passing ofRichard H. Driehaus There are modern buildings on all sides of us, he says, and you never see anyone getting their picture taken in front of those., The Cable, which Driehaus bought in 1987, became his first historic restoration project. Our wealthiest socialites and marshals of "high culture" are characterized by ugliness: moral, aesthetic, and cultural . He requested that a hospitality curriculum be established for students to learn restaurant management, service industry skills and bottom line financial responsibility. Some reviewers complain about the cost but look at what you are seeing and helping to preserve. Man of Vision Award, Midwest Eye-Banks, 2003 B. and James Pritzker attended Driehauss birthday party last summer, highlighting what many people say has been a rapid sprint to the top of Chicagos social world. He died of natural causes, a news release from his. He lives in the Gold Coast. He is survived by three daughters, Tereza, Caroline and Katherine. He cared deeply about his collections and loved to share these works with the public in an environment of beauty, worthy of the objects themselves. His Lake Geneva estate, for example, features a deluxe playground in the form of a carefully detailed child-size village, complete with houses, stores, and a working soda fountain. Following was a meticulous restoration of the historic Nickerson Mansion, over a period of five years. The museum is a stunner, starting with an imposing two-story entry hall and grand staircase that has the kind of lavish detailing one associates more with Renaissance palaces in Florence or Venice than with a Midwest boomtown like Chicago. Richard H. Driehaus, founder and chairman of money manager Driehaus Capital Management and longtime philanthropist, died Tuesday at age 78. Outside of work, he raised three daughters and was involved in philanthropic activities focused on architectural preservation and education. If you appreciate our reporting and want to help make our future more secure, please consider donating. Jerry Gleason Achievement Award, Ed Kelly Sports Program, 2015 The first floor consists largely of reception and meeting rooms, while the second is occupied primarily by Driehauss vast office and what must be one of the most unusual trading floors in Chicago. He funded several landscape design and beautification efforts, including a design competition for the garden at Chicagos Millennium Park, restoration of the Alfred Caldwell Lily Pool in Chicagos Lincoln Park, restoration and programs of the Garfield Park Conservatory, as well as support of the Adopt-A-River program, the Michigan Avenue Bridgehouse and Chicago River Museum. Investment manager and longtime Virgin Islands resident and benefactor Richard Driehaus died on Tuesday in Chicago. Dear Friends of the Driehaus Museum, Another local award, the Richard H. Driehaus Foundation Award for Architectural Excellence in Community Design was established in 1997, with the intent to [encourage] developers and architects not to sacrifice thoughtful design in projects when faced with budget constraints. Additionally, the Richard H. Driehaus Foundational National Preservation Awards honor the best in historic preservation and re-imagining of historic buildings for reuse. Its a method that is fairly common in Europe for cleaning sculpture, but Im not aware that it has ever been used to clean an entire building, says the architect Joseph Antunovich, who oversaw the restoration. Driehaus meanwhile is working on harvesting its investments. Samuel Nickerson, the founder of the First National Bank of Chicago, was one of the citys leading plutocrats in the era between the Great Chicago Fire of 1871 and the 1893 Worlds Columbian Exposition. He has also taken a leading role in encouraging the city and public institutions and groups to adopt a more design-centered approach to civic projects. and M.B.A. from DePaul University (in 1965 and 1970 respectively). Over the next decade, he worked at various brokerage firms including Mullaney, Wells & Co. and Jesup & Lamont, before founding Driehaus Securities Corporation LLC in 1979. He made his first investments using money he had earned as a paperboy delivering the Southtown Economist. The philanthropist and founder of Chicago-based Richard Driehaus Capital Management suffered a brain hemorrhage on March 9 and died at age 78. In 1883, he commissioned the architectural firm of Burling & Whitehouse to design a house commensurate with his position and also to display his extensive art collection. To learn more about Richard H. Driehaus, viewThe Man and His Museum: Making a Masterpiece below: On March 26, 2021, the University of Notre Dame School of Architecture presented Unlike many news organizations, we haven't put up a paywall we want to keep our journalism as accessible as we can. This mansion is in downtown Chicago. His writing has also appeared inUniversity BookmanandAthwart. He was involved in a plan for economic revitalization of Charlotte Amalie, the historic downtown and waterfront of St. Thomas. His career in finance kickedoff at A.G. Becker, where he became its youngest portfolio manager. (The last remaining McCormick residence is the Robert H. McCormick house, located steps away from the Nickerson at the corner of Erie and Rush streets. He first attended St. Margaret of Scotland grammar school on the Southwest Side, where the nuns left a strong impression on him for the rest of his life. In addition to the 36-acre Lake Geneva estate (and the Nickerson, Cable, and century-old houses), he owns a beautifully renovated Gold Coast mansion that serves as his primary residence and houses in Nantucket and St. Thomas. But the prominent Chicago-native businessman and philanthropist, going against the grain, dedicated himself to proclaiming that beauty still mattered, earning the moniker modernist Chicagos voice of dissent from the New York Times. Like investing, it requires strategic thinking, judgment for innovation and tolerance of risk. Frank Schulterbrandt, EDC director at the time of the Treasury debacle, told the Source that despite his company being an EDC tax beneficiary, Driehaus, paid hissizable personal income taxesin the territory. He was the architect of the firms growth equity investment philosophy and was the firms Chairman. It only works when its open, said Eli Boufis, who worked with Mr. Driehaus for 20 years and with him started Driehaus Private Equity. Closer to his Virgin Islands home, he fed his penchant for the Wizard of Oz and love of pirate tales with a twice nightly display of colored lights through a waterfall on his property overlooking Charlotte Amalie harbor complete with a hologram of the wizard and accompanied by the 1812 Overture, which ran until the 2017 hurricanes. Theodor Herzl Award, Jerusalem Fund, 2004 Form-Based Codes Institute Emerging Markets Small Cap Equity Strategy. Through the foundation, he has gone on to support numerous other initiatives in historic preservation, architecture and urbanism, culture, and the arts. Later on, when his father developed Alzheimers, Driehauss mother had to go back to work as a secretary. After graduating from DePaul University with an MBA, he became a research analyst and stock picker for firms such as Rothschild & Company, A. G. Becker, and Jesup & Lamont before going out on his own. Driehauss funds allowed a citizens group to successfully challenge the citys plans to pave over the original naturalistic breakfront. The compound and its elaborate garden are all viewable from the sidewalk and are a regular stop on walking tours of the North Side. He grew up on the Southwest Side in a classic octagon-front brick bungalow, the son of a mechanical engineer. Richard Driehaus loves a party almost as much as he loves historic architecture. Designs 4 Dignity Richard H. Driehaus was named to Barron's "All-Century" Team of 25 individuals identified as the most influential within the mutual fund industry over the past 100 years. This New Urbanism series is supported by the Richard H. Driehaus Foundation. Throughout his life in the spotlight, Driehaus often pointed to his Roman Catholic roots as a guide to his philanthropic endeavors (and we may speculate, to some degree, his aesthetic sensibilities). Former Los Angeles Mayor Richard Riordan has died at age 92. The philanthropy starts with the Richard H. Driehaus Foundation, which has an endowment of more than $70 million and dispenses about $2.5 million a year in grants, most of which go to Chicago. Soane Foundation Honor, The Sir John Soanes Museum Foundation, 2007 Did he ever consider becoming an architect? Two years later he became the youngest portfolio manager and was ranked among the top 1% of the portfolio managers measured by the A.G. Becker Fund Evaluation Service. This fall, however, the spotlight is on the museum, which will open in late October, initially by appointment only. He funded scholarships for international MBA students and a virtual stock portfolio contest for DePaul finance students. Richards an amazing person, says David Bahlman, the president of the Landmarks Preservation Council of Illinois. We see the city and its buildings as being inseparable. The interior, meanwhile, was banged and chipped after decades of use as a commercial facility. Special exhibitions, books and films memorializing architects and architectural achievements. Is this something that would interest Richard? This is in gratitude of those who gave him opportunities to prove himself throughout his career. Executive Director Yet this self-made money manager is now best known for applying the skills of a champion . Its the social aspects of architecture and design that interest us. A case in point is another new museum the foundation is working on, the Public Housing Museum, which will be located on Taylor Street in the last remaining building of the Jane Addams Homes, a 1930s public-housing project. Every conversation is about something hes passionate about, whether its business, restoring historic architecture, 19th-century art, or any of the charities he supports.. Driehaus Capital Management. Distinguished Service to the Dance Field Award, Audience Architects, 2016 A significant by-product of the benefits offered to certified beneficiaries is the charitable contributions requirement. Like the Vincentians, Mr. Driehaus valued philanthropy and educational access for everyone. The. (66 x 58.4 cm) Shade: Diam. The music room, meanwhile, has a rare 19th-century Chickering piano and walls covered in oyster, gold, and silver silk damask. By David Roeder Mar 10, 2021, 4:05pm PDT A legend as an investor and donor, Richard Driehaus dies at 78 Pocket In 2017, Mr. Driehaus gave a speech for the CFA Institute. Outside of business, he had focused his attention and energy on a variety of philanthropic and community service-oriented projects, individually and through the efforts of The Richard H. Driehaus Foundation and the Richard H. Driehaus Charitable Trusts. Though no longer tied by his EDC tax benefit requirement after relocating the business and residency back to the states, Driehaus, who still maintained his home overlooking Charlotte Amalie harbor, did not cut back on his charitable giving to the V.I. ), I went over there one day with my friend Buzz Harper, an antiques dealer, to look at a bust of Abraham Lincoln I was thinking about buying, Driehaus recalls. Driehauss other major cultural initiative is the annual Richard H. Driehaus Prize, which he established in 2003. Design competitions for a: memorial to Daniel Burnham, new hospital for Childrens Memorial, campus center building at the Illinois Institute of Technology, and Friends of the Rivers 25th anniversary design charrette. In the years before giving up his V.I. No. Richard Driehaus, the founder of Chicago's Driehaus Capital Management and namesake of the Driehaus Museum and DePaul University's Business School, died Tuesday, according to Driehaus Private Equity. From 1973 to 1979, he worked at various brokerage firms including Mullaney, Wells & Co., where he was the Director of Research, and Jesup & Lamont, where he was Director of Research and a money manager. St. Petersburg International Center for Preservation. In the late 1990s, he sponsored an international competition for IIT that resulted in the new Rem Koolhaasdesigned student center. Richard Driehaus knew what he liked in stocks, classical architecture, the performing arts, parties and old cars. Weve taken the lead in trying to organize it, and the board approved a $50,000 grant, says Fischer. At his recent birthday extravaganza, held at his baronial estate in Lake Geneva last July, the 65-year-old philanthropist rode in high atop an elephant, beaming and waving. In backing such efforts, he has at times courted controversy with his open dislike of modernism and his championing of the lively neoclassicism of the late 19th and early 20th centuries. Its about the environment, the space.. Neighborhood Housing Services of Chicago, INTERNATIONAL It has since grown in reputation to gain status as a premier award in architectural circles, even as architectural elites continue to shun, and often even hold in contempt, the classical tradition. In 2014, Mr. Driehaus gave a speech at DePaul University, his alma mater. Forty-five years ago he delivered newspapers around 89th and. It doesnt get any better than this., The Nickersons moved out in 1900 after selling the house and most of the original furnishings to Lucius Fisher, a paper-bag manufacturer and the developer of the Fisher Building in the Loop. An odd thing happened when he was 13, howeverodd, at least, by the standards of a teenagerwhen he suddenly became obsessed with the stock market. Diagonally across the intersection is the Samuel M. Nickerson House, purchased by Driehaus in 2003. Despite his love of classicism, Driehaus has funded modern projects if they have raised the general level of design while fulfilling their basic missions. The Architect's Newspaper The hall is flanked on both sides by a series of magnificent rooms that have been flawlessly restored to their original elegance. The Driehaus Museum is a testament to Richard Driehaus vision to inspire minds and bring joy to the hearts of the public through transformative experiences with great works of art, architecture, and design. He was not the extrovert he is today, says Dorothy Driehaus Mellin, the elder of Driehauss two sisters. Richard Driehaus outside the Driehaus Museum in 2012. Let him do with it what he wants.. Over the years, he came to understand that maximizing the impact of donated dollars can be more challenging and more fulfilling than earning those dollars. The Experimental Station After many years of experience, he founded his own investment firm, Driehaus Capital Management, in 1982. ACG Chicago Lifetime Achievement Award, Association for Corporate Growth, 2017 The Trust for Public Land, CLASSICAL ARCHITECTURE In 1983, he founded the Richard H. Driehaus Foundation, and by the end of the decade made his first foray into the foundations primary focus, the built environment, with a donation to a Chicago organization, Friends of the Parks. Chicago Tribune Architects Research Foundation The philanthropist (1942-2021) championed the preservation and restoration of a built environment that edified the human person. Among them, objects by Louis Comfort Tiffany, The WienerWerksttte, Hector Guimard, and many other Art Nouveau artists and designers - works of art that are at the heart of the Museums collection. Honorary Member, Royal Academy of Fine Arts of San Fernando, Madrid, 2015 (induction) Shield of St. Xavier Award, Saint Xavier University, 2006 In the past two decades, Driehaus has emerged as one of Chicagos most prominent advocates for historic preservation. He said open-mindedness informed Mr. Driehaus lifelong success in investing and his embrace of new products and technology. A way of learning about the world. He was a vibrant, world-changing force. (35.6 cm). I suddenly started to see a lot of possibilities.. Richard Driehaus, Stock-Market Daredevil, Preserved Traditional Architecture Chicago fund manager, who has died at age 78, arrived at one of his parties on an elephant's back By James R. Hagerty Through this award, Driehaus hoped to give momentum to the movement seeking to return beauty into the built environment and moving the profession toward his classical vision: I had been looking with interest at architecture for some years and had already concluded that, given the work done in the last 50 years, we Americans deserved better buildings. University of Illinois at Chicago College of Architecture and the Arts But in Chicago, you can because its big enough and its small enough and people actually get along enough a line that drew cheers. Trustee Award, Chicago Architecture Foundation, 2009 Eventually, however, he realized that the residence would make an admirable repository for his collectionor, at least, part of his collectionof 19th-century art and decorative objects. The speech is titled "Darwin, the Markets, and Me: The Power of Direct Observation". Recent winners of the award range from Frank Lloyd Wrights Unity Temple (also newly added to the UNESCO World Heritage List) to the Richardson Olmsted Campus in Buffalo, NY. Grants are typically made through coalitions and alliances to encourage programming designed to broaden civic participation in the cultural life of the city. By most accounts, Driehaus was a shy child. His loving restoration of the 1883 Nickerson Mansion not only brought it back to its Gilded Age splendor, but the conversion of it for use as a museum preserves the legacy of this house as an immersive space for learning through significant art collections. Mr. Driehaus first exposure to DePaul University was as an undergraduate business student. Despite their differences, Pope Francis and Viktor Orban are the only European heads of state trying to end the RussiaUkraine war. Positioned beneath the dome in a shaft of light is a dramatic 19th-century Roman sculpture of Cupid encountering Psyche, the Greek goddess of the soul. We are very focused on issues like sustainability and the environment. (Blair Kamin makes the interestingand depressingpoint that while the architecture worlds two top prizes are funded by local families, no Chicago architect has ever won either award. Today, it manages $13.2 billion through its mutual funds and other accounts. In particular, he cherished his collection of decorative art objects from the late 19th and early 20th centuries. But Driehaus, the founder of Driehaus Capital Management, one of the citys largest investment firms, is no ordinary preservationist.