Chicago Costume has been outfitting residents of Chicago in simple to elaborate costumes since 1976. The business was founded by Mary Hickey Panayotou when she began making custom designed garments and renting costumes out of her home.Chicago Costume has been outfitting residents of Chicago in simple to elaborate costumes since 1976. The business was founded by Mary Hickey Panayotou when she began making custom designed garments and renting costumes out of her home.