Dr. William J. Wallace purchased this home in 1923 for $14,000. A native of Mississippi, Dr. Wallace moved to Oklahoma Territory in 1901, then spent time in Germany where he took post-doctoral training in urology. During his long, distinguished practice in Oklahoma City, Dr. Wallace taught at the OU School of Medicine.
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In 1952 the Wallaces' daughter, Eloise, moved into the house with her husband, William J. Hefner. Hefner had been raised in the neighborhood, the son of Judge Robert Hefner. They moved out in 1962 and sold the home to Jeanette and Jerry A. Gilbert. Jerry served as a city councilman, vice mayor, and original board member of Historical Preservation, Inc. (HPI). He tirelessly championed improved public services and the revitalization of downtown neighborhoods. Jeanette and Jerry both contributed greatly to the historic preservation of the neighborhood. The Gilberts had two children, Brett and Christie. Mr. and Mrs. Wayne Beavers moved into the home in 1979. They remodeled and converted the basement into a family recreation room.