By 1855 Drake had saved enough to purchase a quarter interest in leading Chicago hotel , Tremont House . He was the sole owner within 15 years . However , the Great Chicago Fire of 1871 burned down the Tremont . At the height of the fire , he made a payment on the Michigan Avenue Hotel at Michigan Avenue and Congress Street . The fire had been directly across the street from the hotel , but it managed to be the only hotel on the South side to escape the great fire . In 1873 , he took over the Grand Pacific Hotel . His hotel became the western headquarters of the Republican Party . He eventually diversified into Union Stock Yards , Chicago & Alton Railroad , Illinois Trust & Savings Bank , Chicago Telephone and Chicago Edison Electric . John B. Drake also was a business partner of Jacob Bunn in the establishment of the Chicago Secure Depository Company
Great Chicago Fire
Great Chicago Fire
John Drake (1826–1895)