Richard T. Ely was one of Wisconsin's foremost economic scholars. He received his PhD in Germany where the study of economic theory was more advanced. Ely was a progressive economist who studied the labor movement and the causes of labor unrest. To some, Ely was a dangerous radical, resulting in a charge of subversive teaching. The University of Wisconsin Board of Regents upheld Ely's right to express unpopular views.

At the University of Wisconsin, Ely met the well-known Chicago architect Charles Sumner Frost, who designed the 1893 Law Building on Bascom Hill, which has since been demolished. In 1896 Ely commissioned Frost to build his house. The Ely house is a textbook example of early Georgian Revival design. It is nearly symmetrical and rectangular in plan with classically decorated eaves and a hipped roof. Large chimneys are placed on either side of the roof. The central part of the façade projects slightly and is crowned with a full pediment that is supported by Ionic pilasters. A central one story Ionic portico extends from the façade to cover the main entry. Characteristic details of Georgian Revival design may be seen in the entry door with an elliptical fanlight above, multi-paned windows with decorative tracery, broken pediments over the windows, and bracketed eaves.

The house is privately owned; please respect the privacy rights of the owner.