Jerrold Wexler
Encyclopedia
Jerrold Wexler was a noted American
businessman. He was the brother of cinematographer Haskell Wexler
and the stepfather of actress Daryl Hannah
. Wexler was born in Chicago
and attended Northwestern University
.
(now known as Hotel 71).
In 1979 he, along with his business partner Edward W. Ross, purchased the Drake Hotel
. The Drake was successfully nominated for the National Register of Historic Places
in 1980. In 1983, Wexler’s Jupiter Industries, which had interests in the Playboy Building, Lake Point Tower
, Michigan Avenue
real estate, dozens of Chicago hotels, and property holdings in both New York City
and Los Angeles
, saved Goldblatt's
from bankruptcy. Jupiter also developed the Vista International Hotel at the World Trade Center
, later known as the Marriott World Trade Center, which was destroyed in the September 11, 2001 attacks
. He was known for pioneering new development areas; the Executive Plaza was the first hotel in Chicago in decades, and the Vista was the first hotel in downtown Manhattan for decades. He also built the Outer Drive East
development in Chicago, which expanded the downtown into an industrial and shipping area in decline.
When Bertram Lee failed to come up with his ten percent share to purchase the National Basketball Association
Denver Nuggets
in 1989, Peter Bynoe
recruited Jerrold Wexler and Jay Pritzker
to keep the deal alive. The group held an interest in the team until 1992 when COMSAT
bought out Drexel Burnham Lambert
, Bynoe and his partners. In addition to his business interests, he was a very active political contributor. In addition, he served on the board of trustees of the John Austin Cheley Foundation.
at the Stanford Hospital
in Palo Alto, CA
. In 1993, he was inducted posthumously into the Chicago Association of REALTORS Hall of Fame.
His estate continued to sell off his business interests for several years after his death.
In 2003, the United States
National Film Preservation Board
added the 1969
film Medium Cool
, co-produced by Jerrold and Haskell Wexler, to the National Film Registry
.
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
businessman. He was the brother of cinematographer Haskell Wexler
Haskell Wexler
Haskell Wexler, A.S.C. is an American cinematographer, film producer, and director. Wexler was judged to be one of film history's ten most influential cinematographers in a survey of the members of the International Cinematographers Guild.-Early life and education:Wexler was born to a Jewish...
and the stepfather of actress Daryl Hannah
Daryl Hannah
Daryl Christine Hannah is an American film actress. After making her screen debut in 1978, Hannah starred in a number of Hollywood films throughout the 1980s, notably Blade Runner, Splash, Wall Street and Roxanne and Kill Bill.-Early life:Hannah was born in Chicago, Illinois, the daughter of Susan...
. Wexler was born in Chicago
Chicago
Chicago is the largest city in the US state of Illinois. With nearly 2.7 million residents, it is the most populous city in the Midwestern United States and the third most populous in the US, after New York City and Los Angeles...
and attended Northwestern University
Northwestern University
Northwestern University is a private research university in Evanston and Chicago, Illinois, USA. Northwestern has eleven undergraduate, graduate, and professional schools offering 124 undergraduate degrees and 145 graduate and professional degrees....
.
Business ventures
By his early 30s he was building a reputation for financing monumental skyscrapers. With his father's help, he brokered the construction of the Executive Plaza Hotel on Wacker DriveWacker Drive
Wacker Drive is a major street in Chicago, Illinois, United States, running along the south side of the main branch and the east side of the south branch of the Chicago River...
(now known as Hotel 71).
In 1979 he, along with his business partner Edward W. Ross, purchased 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...
. The Drake was successfully nominated for the National Register of Historic Places
National Register of Historic Places
The National Register of Historic Places is the United States government's official list of districts, sites, buildings, structures, and objects deemed worthy of preservation...
in 1980. In 1983, Wexler’s Jupiter Industries, which had interests in the Playboy Building, Lake Point Tower
Lake Point Tower
Lake Point Tower is a high-rise residential building located on a promontory of the Lake Michigan lakefront in downtown Chicago, just north of the Chicago River at 505 North Lake Shore Drive. It is located in the Streeterville neighborhood of the Near North Side community area...
, 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...
real estate, dozens of Chicago hotels, and property holdings in both New York City
New York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
and Los Angeles
Los Ángeles
Los Ángeles is the capital of the province of Biobío, in the commune of the same name, in Region VIII , in the center-south of Chile. It is located between the Laja and Biobío rivers. The population is 123,445 inhabitants...
, saved Goldblatt's
Goldblatt's
Goldblatt's was a chain of local discount stores that operated in Chicago, Illinois as well as Indiana, Michigan and Wisconsin. Founded in 1914, the chain grew to more than twenty stores at its peak, gradually closing its stores in the 1990s and selling others to Ames before finally closing...
from bankruptcy. Jupiter also developed the Vista International Hotel at the World Trade Center
World Trade Center
The original World Trade Center was a complex with seven buildings featuring landmark twin towers in Lower Manhattan, New York City, United States. The complex opened on April 4, 1973, and was destroyed in 2001 during the September 11 attacks. The site is currently being rebuilt with five new...
, later known as the Marriott World Trade Center, which was destroyed in the September 11, 2001 attacks
September 11, 2001 attacks
The September 11 attacks The September 11 attacks The September 11 attacks (also referred to as September 11, September 11th or 9/119/11 is pronounced "nine eleven". The slash is not part of the pronunciation...
. He was known for pioneering new development areas; the Executive Plaza was the first hotel in Chicago in decades, and the Vista was the first hotel in downtown Manhattan for decades. He also built the Outer Drive East
Outer Drive East
400 East Randolph Street Condominiums or simply 400 East Randolph is a 40-story high-rise designed by Reinheimer & Associates. The building primarily consists of residential condominiums, though there are a couple businesses and restaurants located in the building...
development in Chicago, which expanded the downtown into an industrial and shipping area in decline.
When Bertram Lee failed to come up with his ten percent share to purchase the National Basketball Association
National Basketball Association
The National Basketball Association is the pre-eminent men's professional basketball league in North America. It consists of thirty franchised member clubs, of which twenty-nine are located in the United States and one in Canada...
Denver Nuggets
Denver Nuggets
The Denver Nuggets are a professional basketball team based in Denver, Colorado. They play in the National Basketball Association . They were founded as the Denver Rockets in 1967 as a charter franchise of the American Basketball Association, and became one of that league's more successful teams...
in 1989, Peter Bynoe
Peter Bynoe
Peter Charles Bernard Bynoe is a Chicago attorney and businessman, the only African-American equity partner in the Chicago office of DLA Piper...
recruited Jerrold Wexler and Jay Pritzker
Jay Pritzker
Jay Arthur Pritzker was an American entrepreneur and conglomerate organizer.-Biography:Pritzker was born in Chicago, Illinois, the son of Fanny and A. N. Pritzker. His brother was Robert Pritzker...
to keep the deal alive. The group held an interest in the team until 1992 when COMSAT
COMSAT
The Communications Satellite Corporation is a global telecommunications company, based in the USA, and with branches in Brazil, Argentina, Colombia, Mexico, Peru, Venezuela and several other countries in the Americas. It is present also in Turkey...
bought out Drexel Burnham Lambert
Drexel Burnham Lambert
Drexel Burnham Lambert was a major Wall Street investment banking firm, which first rose to prominence and then was forced into bankruptcy in February 1990 by its involvement in illegal activities in the junk bond market, driven by Drexel employee Michael Milken. At its height, it was the...
, Bynoe and his partners. In addition to his business interests, he was a very active political contributor. In addition, he served on the board of trustees of the John Austin Cheley Foundation.
Death and legacy
In November 1992, Wexler died of lymphomaLymphoma
Lymphoma is a cancer in the lymphatic cells of the immune system. Typically, lymphomas present as a solid tumor of lymphoid cells. Treatment might involve chemotherapy and in some cases radiotherapy and/or bone marrow transplantation, and can be curable depending on the histology, type, and stage...
at the Stanford Hospital
Stanford Hospital
Stanford Hospital and Clinics is known worldwide for advanced treatment of complex disorders in areas such as cardiovascular care, cancer treatment, neurosciences, surgery, and organ transplants. Consistently ranked among the nation's top hospitals, Stanford Hospital and Clinics is internationally...
in Palo Alto, CA
California
California is a state located on the West Coast of the United States. It is by far the most populous U.S. state, and the third-largest by land area...
. In 1993, he was inducted posthumously into the Chicago Association of REALTORS Hall of Fame.
His estate continued to sell off his business interests for several years after his death.
In 2003, the United States
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
National Film Preservation Board
National Film Preservation Board
The United States National Film Preservation Board is the board selecting films for preservation in the Library of Congress' National Film Registry. It was established by the National Film Preservation Act of 1988...
added the 1969
1969 in film
The year 1969 in film involved some significant events.-Events:* Last year for prize giving at the Venice Film Festival until it is revived in 1980...
film Medium Cool
Medium Cool
Medium Cool is an American film written and directed by Haskell Wexler and starring Robert Forster, Verna Bloom, Peter Bonerz, Marianna Hill and Harold Blankenship. It takes place in Chicago in the summer of 1968...
, co-produced by Jerrold and Haskell Wexler, to the National Film Registry
National Film Registry
The National Film Registry is the United States National Film Preservation Board's selection of films for preservation in the Library of Congress. The Board, established by the National Film Preservation Act of 1988, was reauthorized by acts of Congress in 1992, 1996, 2005, and again in October 2008...
.