George Mix Wakefield, born February 6, 1839, in Henderson, New York, a son of James Patterson Wakefield and Hannah B. Hall, had the town site of Wakefield platted in May 1886; the general location was already being referred to as "Wakefield" as early as the fall of 1884. His parents moved their family to Waukesha County, Wisconsin in October 1844. Mr. Wakefield became interested in logging and real estate and acquired vast tracts of land in the western Upper Peninsula of Michigan in the 1870s and 1880s. Together with various other capitalists he built sawmills and logged the pine forests of the area, and later became involved in mineral exploration. He was one of the parties who held interests in the mineral rights to the Sunday Lake mine, as well as a few nearby properties.
Mr. Wakefield moved to Milwaukee, Wisconsin in 1879 and established a real estate business, dealing in timber and mineral lands in Michigan, Wisconsin, Texas, and Alaska. He was secretary-treasurer of the Ontonagon River Improvement and Boom Company, organized in 1880. They made it possible to float logs out to Lake Superior and built a sawmill on an island near the mouth of the Ontonagon River in Ontonagon, Michigan.
The G. M. Wakefield Mineral Land Company was formed in Milwaukee, Wisconsin on September 18, 1899, for the purpose of dealing in mineral lands, timber, agricultural lands, and real estate. George M. Wakefield, his wife and their son Vernon T. Wakefield were the stockholders with a capital stock of $50,000 divided into 500 shares. Most of the land held was in Township 47 North, between Wakefield and Lake Gogebic. Mr. Wakefield was also a major stockholder in the Beacon, Continental, Cosmos, International, and Summit mineral land companies.
The Wakefield ancestry is traced back to John Wakefield, who was born about 1614, probably in Gravesend, County Kent, England and immigrated to Virginia aboard the "America" in June 1635, along with his brothers Richard Wakefield and Thomas Wakefield. John Wakefield eventually settled at Martha’s Vineyard, Massachusetts.