subscribe
back issues
reprints
contact us
Wealth in Perspective
Wealth Management
Thought Leaders
Money and Meaning
Passion Investments
Wealth Management Sourcebook
Multifamily Office 2008
Previous Issues Index
/ Home / Editorial / Money & Meaning / Philanthropy /
From Hearth To Heritage
From Eyesore To Icon
Patricia Eakins
10/01/2005

Ludwig Mies van der Rohe’s Farnsworth House in Plano, Ill., is an example of how owners, preservationists and the community at large can collaborate to save an architectural marvel from oblivion.

Mies designed the home as a weekend retreat for physician Edith Farnsworth. She later sued him—unsuccessfully—because she hated the completed house when it was unveiled in 1951. After making revisions to Mies’s plan to make it more livable—changes that still make design purists shudder, such as screens to thwart mosquitoes—Farnsworth kept the house. She sold it to Peter Palumbo in 1968. He coddled Farnsworth House, even hiring the firm of Mies’s grandson, Dirk Lohan, to restore the home to its original 1951 appearance.

In 2003, health concerns forced Palumbo to put Farnsworth House on the auction block. Fearing it would go to a private developer, the National Trust for Historic Preservation and the Landmarks Preservation Council of Illinois announced a joint campaign to save the structure. Each put up $1 million in seed money, and some 350 people contributed funds, some as little as a few dollars. This alliance was able to place the winning bid: $7.5 million. Today an organization called Friends of the Farnsworth House, which helped create the endowment, runs the building as a museum.

The small steel-and-glass structure, located along the Fox River west of Chicago, is considered a Modernist masterpiece, but the residence and the land on which is sits devour an annual maintenance fund of approximately 4 percent of its $5 million endowment. The expenses cover the staff, parking lot, insurance and other costs to accommodate 50,000 visitors a year. Admission is $20 per person. 

 Back to main article: From Hearth to Heritage

Printer Friendly Version  Email a Friend
 
Get a FREE ISSUE and a FREE GIFT

Simply fill out this form to receive a complimentary issue of Worth and a FREE gift ("The top 25 Questions for Your Private Banker"). If you like the magazine, you’ll pay just $36 for 5 more issues (6 in all). If it’s not for you, you can return your invoice marked "cancel", and owe nothing. The FREE issue and FREE gift are yours to keep.
Name
Address
Canadian orders click here
International orders click here

Unsubscribe from subscription emails click here
 



Family Office Wealth Conference