The Ridge Historical Society
The Early Days of Morgan Park – Part 2
By Carol Flynn
August of 1868 was one of the most critical times in the history of the Blue Island.
That month, a group of investors, headed by Frederick H. Winston, purchased the land that had been held by the Morgan family since Thomas Morgan first purchased it in 1844. This began the development that led directly to the communities known today as Beverly Hills and Morgan Park.
This group, which incorporated the next year as the Blue Island Land and Building Company (BILBCo), included business and real estate men who had the vision to recognize the potential value of the land on the northern portion of the Blue Island. They invested their money in purchasing a large tract of this real estate for development and resale. Some of them chose to live here themselves.
A more detailed look at the BILBCo offers a glimpse into the business dealings of 155 years ago, and the men who made those deals.
Thomas Morgan died in 1851, and the land went to his widow, Anna Maria, and their nine children. Morgan’s will reportedly included a “dower clause,” that is, a provision that Anna could continue to use the land for her support, giving her a “life interest” in the property. “Dowers” are very common, usually conferred at the time of marriage, or sometimes by law. [Note that contemporary Illinois law does not include automatic dower rights.]
Anna was living in New Orleans in August of 1868 when Winston and his group purchased the land from the family. Some of the adult Morgan children were still living on the Ridge at the time, and in other parts of Chicago, notably Hyde Park. Winston personally took over the legal title from the Morgan heirs.
Anna died in December of 1868, in New Orleans, and her remains were returned to Chicago for burial in the family plot in Graceland Cemetery. The original family cemetery was on the Morgan estate in northern Blue Island, but prior to the selling of this land, the Morgan graves were moved to Graceland Cemetery.
The group of investors incorporated the next year. The Twenty-sixth General Assembly of the State of Illinois, convened in Springfield on January 4, 1869, passed an act to incorporate the BILBCo effective April 15, 1869.
The incorporators were listed as Charles V. Dyer, L. P. Hilliard, Thomas S. Dobbins, Charles W. Weston, John F. Tracy, John B. Lyon, Charles H. Walker, James Milliken, and Frederick H. Winston.
The purpose of the BILBCo was “laying out a town in the townships of Lake, Calumet, and Worth, or either of them, in the county of Cook, and buying, improving and selling land and town lots in said town, and in the townships of Lake, Worth and Calumet, and in the county of Cook.”
The act was granted for twenty years, during which time the BILBC could engage in legal business including entering into contracts; procuring, improving, and selling real estate and personal property; and suing and being sued.
The capital stock was set at $250,000, divided into $100 shares. The incorporators had six months to raise $150,000 of that stock, elect a board of directors, and develop governing documents to manage the interests of the stockholders.
They successfully accomplished that – likely they had it set up before the incorporation was even official and they were ready to begin business as soon as the state legislators gave the approval.
Frederic Winston served as the first president of BILBCo; the secretary/treasurer was George C. Walker; and the business agent/superintendent of operations was Col. George R. Clarke.
Winston turned over the title of the Morgan estate lands to the BILBCo. They immediately started selling off the land to the north of 107th Street, which they called “Washington Heights,” to numerous developers and individuals.
A huge public auction was held on Monday, June 14, 1869. The BILBCo took in over $60,000 that day in real estate sales.
Three newspaper clippings about that auction are attached. The development of Washington Heights and Beverly will be a topic of a future series.
The BILBCo kept the land south of 107th Street to create their own development, an idyllic village they named “Morgan Park.” The rest of this series will deal with the history of that development.
Some historically significant names appeared on that list of men involved with the BILBCo – Dyer, Tracy, Walker, Milliken, Winston, Clarke. The next post will share biographical sketches of some of these people.