Franklin A. Cole, a Chicago business executive, civic leader, and philanthropist who helped shape the city’s financial and institutional landscape over several decades, died August 2, 2026, at his home in Piper’s Landing, Palm City, Florida. He was 100.

Franklin Alan Cole was born on May 20, 1926, in Park Falls, Wisconsin and he was the son of Abraham David and Bessie Cole. The family later lived in Owatonna, Minnesota, before moving to Chicago in 1940. Mr. Cole graduated from Senn High School, the University of Illinois, and Northwestern University School of Law.

He began his legal career as an associate with Lederer, Livingston, Kahn & Adsit and from 1955 to 1963 was a partner in Cole, Wishner, Epstein & Manilow. In 1963, he joined Walter E. Heller & Company, one of his firm’s clients, and ultimately became CEO and Chairman. With the merger of Heller with American National Bank, he ultimately served as chairman of the combined company, Heller International. In 1985, he founded Croesus Corporation, a private investment firm. With his expertise widely known, he served on the boards of AON Corporation, GATX Corporation, Peoples Energy Corporation, American National Bank & Trust, Illinois Bell Telephone Co., Combined International Corp., CNA Income Shares, Inc., Duff & Phelps Utilities Income, Inc., and the Local Initiatives Support Corporation (LISC).

His civic and philanthropic commitments were extensive. At Northwestern University, he served as vice chairman of the Board of Trustees, chaired the Investments Committee for eight years, and led a Northwestern University School of Law campaign that raised more than $27 million. He was past president and director of the Chicago Central Area Committee, where he played a leading role in efforts to secure a downtown stadium for the Chicago Bears.

Mr. Cole was chairman of Michael Reese Hospital and Medical Center and worked with University of Chicago President Hannah Gray on efforts to merge the two hospital systems. As a director of The Chicago Community Trust, he co-chaired the Chicago Human Relations Task Force, focused on reducing racial, religious, and ethnic tensions. In 1983, he served as general chairman of the record-breaking fundraiser for the Chicago United Way/Crusade of Mercy campaign.

All the while, he was deeply committed to his family and their well-being. He was preceded in death by his parents; his first wife, Jane Gottlieb Cole; his second wife, Joan Lauter Cole; his partner, Judith Nightingale; and his brother, Robert H. Cole.

He is survived by his son, Robert Cole; his daughter, Ellen Cole; his stepdaughter, Mary Straus Batsford (Gerald); and his stepsons, Peter Straus (Anne), Andrew Straus, Todd Straus, 14 grandchildren and 1 great grandchild.

In lieu of flowers, the family suggests memorial contributions to organizations reflecting his commitment to education, health care, urban development, human services, and improved human relations.