Macy was one of the founders of Toledo, Ohio, and one of the proprietors of the Rock River Valley Union Railroad (the state line to Fond du Lac, Wisconsin).
Macy moved to Fond du Lac in the Wisconsin Territory, in 1845 and engaged in the real estate business, acquiring land from Philip Hone, the mayor of New York City.
Macy lost his life in the burning of the steamer Niagara, near Port Washington, Wisconsin on Lake Michigan on September 24, 1856.
Fire broke out on board at around 4pm, causing the steam engines and the ship's giant paddlewheels to stop.
The steamer, which was 4–5 miles offshore, quickly became engulfed in flames and smoke, and the passengers panicked while trying to board the lifeboats.