Among his numerous charitable contributions, Driehaus was especially committed to the preservation of historical architecture. The Richard H. Driehaus Prize at the University of Notre Dame was established in 2003 to recognize living architects with significant contributions in the field of traditional and classical architecture. The German architect Sebastian Treese was announced last month as the 2021 recipient of the $200,000 annual prize.

In 2015, Driehaus received the Lifetime Achievement Award from AIA Chicago — the only non-architect in the award's history.

Blair Kamin, author and Pulitzer Prize-winning former architecture critic for the Chicago Tribune, remembered Driehaus in a heartfelt tweet today, writing: "I am stunned, and deeply saddened, to read of the death of Chicago investor and philanthropist Richard Driehaus. Richard cared passionately about the built environment and manifested that passion with unparalleled generosity. He sponsored the Driehaus Prize for traditional and classical architecture + awards for design in Chicago’s neighborhoods. His foundation backed many worthy causes. When I left the Tribune 2 months ago, he wrote a beautiful letter and even sent a bottle of one of his favorite wines. His death is a great loss for Chicago."

2/2...and classical architecture + awards for design in Chicago’s neighborhoods. His foundation backed many worthy causes. When I left the Tribune 2 months ago, he wrote a beautiful letter and even sent a bottle of one of his favorite wines. His death is a great loss for Chicago.
— Blair Kamin (@BlairKamin) March 10, 2021