CHAMPAIGN, Ill. – Fighting Illini basketball student-athletes who excel in the classroom will soon be recognized on the Rick Schmidt Academic Achievement Wall at the Ubben Basketball Practice Facility.
Schmidt was a two-time First-Team Academic All-American during his time at the University of Illinois and led the team in scoring and rebounding each of his last two seasons. Fighting Illini who have earned Academic All-America and All-Big Ten honors will be featured on the recognition wall.
"Rick Schmidt was one of the most accomplished Fighting Illini basketball players of his era, establishing himself as one of the great scorers in program history," UI Director of Athletics Josh Whitman said. "But it was the way he combined his athletic prowess with academic excellence that established his Illini legacy. Rick's performance in the classroom, highlighted by him becoming the only Illinois player to earn First-Team Academic All-America honors in back-to-back seasons, may be even more impressive than what he accomplished on the court. Inside the Ubben Basketball Practice Facility, we are thrilled to recognize Rick's achievements with the Rick Schmidt Academic Achievement Wall, which will celebrate those men's and women's team members, past and present, who earn Academic All-America and Academic All-Big Ten honors. During his incredibly successful business career, Rick has been a long-time friend and supporter of Fighting Illini Athletics, and this is a wonderful tribute for his long and continued devotion to the University of Illinois."
Schmidt, a native of nearby Royal, Illinois, and graduate of St. Joseph-Ogden High School, was a three-year letterwinner for the Illini from 1973-75, earning team MVP honors in 1974 and 1975, and serving as team captain in 1975. He earned Second-Team All-Big Ten honors in 1974 and Honorable-Mention recognition in 1975. Schmidt is one of only three players in Illinois basketball history, and the last, to average more than 20 points per game in two consecutive seasons, with a 21.4 average in 1974 and 20.2 points per game in 1975. He was also the team's leading rebounder those seasons after averaging 7.2 and 5.3 rebounds per game, respectively.
"Illinois Basketball has a decorated history full of incredible student-athletes and accomplishments," Illinois women's head coach Shauna Green said. "What helps set us apart, though, is the high-class people who have come through our doors. Rick Schmidt is a prime example of what it means to be an Illini - being dedicated to your team and excelling in the classroom. We're so grateful to have a world-class home in the Ubben Basketball Complex that is a one-stop shop for our student-athletes' needs that includes the Rick Schmidt Academic Achievement Wall."
"Rick Schmidt's career embodies that of the complete student-athlete experience: excelling on the court, exemplary performance in the classroom, and success beyond the game," men's coach Brad Underwood said. "He maximized every opportunity at the University of Illinois, as both a fabulous basketball player and a two-time Academic All-American. That hard work and dedication set him on a path for decades of achievement in the business world. Rick has become a dear friend since the time I took over here; he's a loyal supporter of our program and this University. There simply is no one who loves their alma mater more than Rick. It is a fitting tribute to have an academic achievement wall at the Ubben facility named in his honor."
While basketball was the reason Schmidt enrolled at Illinois, his education was just as much a priority and passion for him. While earning his Bachelor of Science degree in agriculture, Schmidt twice was named to the Academic All-Big Ten team and was named the Big Ten's Scholar-Athlete in 1975. More notably, Schmidt was named First-Team Academic All-American following his junior and senior seasons, the only player in Fighting Illini basketball history to do so.
Schmidt was drafted in the sixth round of the 1975 NBA Draft by the New Orleans Jazz and played part of one season with the San Diego Sails of the ABA before the franchise disbanded in the middle of the regular season.
After his basketball career, Schmidt served as an Illinois basketball radio commentator for a seven-year stint and started a successful career in the life insurance industry. After 23 years in the insurance field, he changed gears to focus on real estate development and was a founding partner of Royal Properties. That company had developed more than 7,500 spaces for students on college campuses around the United States when American Campus Communities (ACC) purchased 85 percent of Royal Properties and investments in 2006 for more than $244 million. He followed that in 2010 by completing a 40-story building with a hotel, restaurant and condominiums in the River North neighborhood of Chicago that was valued at $150 million.
Schmidt was honored as the "I" Man of the Year Award by the Varsity I Association of the UI in 2009, regarded as the highest honor bestowed upon a past letterwinner for post-graduate accomplishments. He was recognized as a member of the 15-man 75th-Anniversary Illini basketball team and is a member of the UI President's Council and Illini Loyalty Circle.
