Longtime Industry Member Thomas Philipsborn Passes Away at 97

(Image courtesy of the family)

Thomas Philipsborn, Chairman of the Board of The Philipsborn Co., and longtime industry member, passed away May 3. He was 97.

After serving in the U.S. Merchant Marines and U.S. Navy during the Korean War, Philipsborn then joined H.F. Philipsborn & Co.

He was elected Treasurer in 1957, a Director in 1961 and President in May 1966. In 1970, he sold H.F. Philipsborn & Co. to Illinois Central Industries.

It was repurchased in 1981 and renamed The Philipsborn Co. Philipsborn most recently served as Chairman of its board.

Philipsborn was President of the Chicago Mortgage Bankers Association (later renamed the Illinois Mortgage Bankers Association) in 1968.

Additionally, Philipsborn was involved in a number of other boards, associations and charitable efforts.

Philipsborn is survived by his wife of 63 years, Betty, and his four daughters: Ellyn McCrea (Alan), Lisa Blumberg (Paul), Anne Philipsborn (Rick Ray), Mari Philipsborn (Eric Terman) and grandchildren Robert, Leah, Daniel, Eli and Audrey.

The obituary noted memorial contributions may be made to Chicago Sinai Congregation, 15 W. Delaware Place, Chicago, 60610, or Francis W. Parker School, 330 W. Webster Avenue, Chicago, IL 60614.