1887, Olcott married Fannie Bailey of Ann Arbor, Michigan. In 1904, Olcott and his wife built a 10,000 square foot Georgian Colonial mansion for their family in Duluth. The house was built at a cost of $140,000 and had an estate covering five city lots surrounded by a brick and wrought iron wall. The Olcotts had two daughters who they raised in the house. The Olcott family donated the house to Duluth Teachers College in 1939, where it housed a music school. In 1925, Olcott and his wife established the "Olcott Lodge", a rest lodge for wives of the Oliver Iron Mining Company at Half Moon Lake in the Mesabi Range. At the time, a newspaper account noted: "The lodge itself is a charming place, and the surroundings of lake and forest attractive and restful. The Olcotts not only have caused the beautiful lodge to be built and completely furnished and equipped, but they defray all costs of maintenance, with a competent and experienced woman in charge." In 1931, the camp was turned over to the Girl Scouts and has been operated since that time as the Fannie Bailey Olcott Girl Scout Camp. Olcott retired as president of the Oliver Iron Mining Co. in 1928 and traveled extensively in the seven years following his retirement, including a year in Europe and trips to Florida and California. In April 1935, Olcott died while visiting his daughter, Mrs. Torrey Ford, in Pasadena, California. He died from pneumonia following a stroke suffered several weeks earlier. He was 73 years old at the time of his death. Legacy and honors Olcott Park - Olcott Park is a 40-acre (160,000 m2) piece of land in Virginia, Minnesota reserved for the city's enjoyment. It has a fountain in the northern part built during the Great Depression. There is also a bandstand in the center, used mainly for city band performances. To the south, it borders Parkview Learning Center, to the east 9th Avenue West, to the north 9th Street North, and to the west Greenwood Cemetery. Olcott Park is also home to the Olcott Park Greenhouse. Williams Olcott's company, the Oliver Iron Mining Co., first leased the land to the city in 1905 for $1 per year if the city would pay taxes. In 1939 the city purchased the land for $9,015. Olcott Park Greenhouse - The Olcott Park Greenhouse 4,500 square feet (420 m²) is