John Burroughs Drake and his brother Tracy Drake

Tracy Drake

Tracy C Drake and his brother John Drake were the developers and proprietors of the Blackstone Hotel and Drake Hotel, which are both located along Michigan Avenue in Chicago, IL. The former is located in the Chicago Landmark Historic Michigan Boulevard District and the latter along the...

 were the developers and proprietors of the Blackstone Hotel

Blackstone Hotel

The Renaissance Blackstone Hotel is located on the corner of Michigan Avenue and Balbo Street in the Michigan Boulevard Historic District in the Loop community area of Chicago, Illinois. This 21-story hotel was built from 1908 to 1910 and designed by Marshall and Fox. On May 29, 1998, the...

 and Drake Hotel

Drake Hotel (Chicago)

The Drake Hotel, 140 East Walton Place, Chicago, Illinois, is a luxury full-service hotel, located downtown on the lake side of Michigan Avenue two blocks north of the John Hancock Center and a block south of Oak Street Beach at the top of the Magnificent Mile.Overlooking Lake Michigan, it was...

, which are both located along Michigan Avenue

Michigan Avenue (Chicago)

Michigan Avenue is a major north-south street in Chicago which runs at 100 east south of the Chicago River and at 132 East north of the river from 12628 south to 950 north in the Chicago street address system...

 in Chicago, IL. The former is located in the Chicago Landmark

Chicago Landmark

Chicago Landmark is a designation of the Mayor of Chicago and the Chicago City Council for historic buildings and other sites in Chicago, Illinois, United States. Listed sites are selected after meeting a combination of criteria, including historical, economic, architectural, artistic, cultural,...

 Historic Michigan Boulevard District

Historic Michigan Boulevard District

The Historic Michigan Boulevard District is a historic district in the Loop community area of Chicago in Cook County, Illinois, United States encompassing Michigan Avenue between 11th or Roosevelt Road , depending on the source, and Randolph Streets and named after the nearby Great Lake...

 and the latter along the Magnificent Mile

Magnificent Mile

The Magnificent Mile, sometimes referred to as The Mag Mile, is a neighborhood in Chicago, Illinois, that runs along a portion of Michigan Avenue extending from the Chicago River to Oak Street in the Near North Side community area. The district is located adjacent to downtown; it is also one block...

. Their father John Drake had been a business partner of Timothy Blackstone

Timothy Blackstone

Timothy Beach Blackstone was a 19th century railroad executive, businessman, philanthropist, and politician. He is descended from one of the earliest British settlers of New England, William Blaxton. Blackstone worked in the railroad industry for most of his life after dropping out of school...

.

The brothers acquired the property for the Drake Hotel

Drake Hotel (Chicago)

The Drake Hotel, 140 East Walton Place, Chicago, Illinois, is a luxury full-service hotel, located downtown on the lake side of Michigan Avenue two blocks north of the John Hancock Center and a block south of Oak Street Beach at the top of the Magnificent Mile.Overlooking Lake Michigan, it was...

 from the estate of Potter Palmer

Potter Palmer

Potter Palmer was an American businessman who was responsible for much of the development of State Street in Chicago.-Retailing career:...

in 1916 after it gave up on the idea of building a hotel itself.