![\"\"](\"http:\/\/blog.wabash.edu\/dearoldwabash\/wp-content\/uploads\/sites\/9\/2009\/05\/ElstonHomesteadPD-280-01.jpg\")
<\/a><\/p>\nca. 1925<\/p>\n
Commencement is a time of many special rituals, among these is the senior reception at the Elston Homestead. With that in mind I\u2019d thought I would share a couple of pictures of the house and tell a little of its history.<\/p>\n
The Homestead was built in 1834 by Major Isaac Elston. It was the first brick home in Crawfordsville and was a mark of Elston\u2019s wealth. The Major came to Crawfordsville early in its history and was at first a shopkeeper and the postmaster, a handy sideline for a merchant.<\/p>\n
It wasn\u2019t long before Major Elston was lending money \u2013 this was a land office town and\u00a0 folks came here for the large land auctions. The rate or \u201ccost\u201d of the money lent was 50%! The major gave up shopkeeping and opened his own bank. Elston also engaged in land speculation and owned large parts of what became Lafayette and Michigan City. His 40 acre parcel here in town \u2013 now the historic district Elston Woods \u2013 includes the DAR house, the Lew Wallace Study and the Lane Place. I mention these places in particular as they are all homes of the Major\u2019s children and built on land he gave them.<\/p>\n
The Major\u2019s only surviving son was also an Isaac, but known as the Colonel from his Civil War service.\u00a0 The Colonel’s son was also an Isaac Elston, known in our history as \u201cIke\u201d Elston. Yet Ike did not inherit the Homestead. Instead the home passed to Henry Lane Wallace, the only child of Lew and Susan Elston Wallace. The photo above is from the time of Wallace’s ownership.<\/p>\n
Ike made a great deal of money in the Chicago Mercantile Exchange and wanted to purchase the house back from the Wallace side of the family. He succeeded and early in the 1930\u2019s as the owner of the Homestead he set about refurbishing it. Ike was a trustee of the College for decades and the house was a place for many of the social events connected to Wabash. When Ike died in the mid-sixties, his will gave the Homestead to the College for use as the President\u2019s house.<\/p>\n
The photo below is from the 1960\u2019s.<\/p>\n
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