Benjamin Franklin Allen (people called him Frank), moved to Iowa in 1851, soon after Iowa became a state. Allen was on his way to becoming Iowa’s first millionaire from good investments in the banks. The pioneer banker and real estate agent soon became an Iowan tycoon in the two industries. Allen built the Terrace Hill mansion as his family home in 1866. He built the famous mansion as a tribute to his great wealth. The infamous Black Friday of 1873 and the panic that followed proved terrible for the young tycoon and he lost everything. After this personal tragedy, Allen was forced to sell his home to his lawyer, Frederick Hubbell in 1884. Hubbell’s family lived in the mansion for a short period before they donated it to the state.
Allen’s mansion today is a National Historic Landmark, as well as the home of the state’s Governor. Today B.F. Allen is buried in Woodland Cemetery in Des Moines. Although Benjamin Allen later in life made some financial mistakes, he still can be recognized as Iowa’s first millionaire. Also, without his masterful work in architecture we wouldn’t have the unique mansion we have today.
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