Stan Wallace played with the Chicago Bears of the NFL beffore joining the Toronto Argos for two season, seeing action at both defensive back and as a receiver. Wallace was named to the Eastern All-Star team in 1960 at defensive back.

More details on the football career of Stan Wallace can be found in the following exercept from the Illinois Legislature regarding Wallace's death. Note that the years listed for Toronto appear to be incorrect as there is no record of him having played in the CFL in 1959, and he was an All-Star in only the one season.

HOUSE RESOLUTION 516 Offered by Representative Tim Johnson: WHEREAS, The members of the Illinois House of Representatives are saddened to learn of the death of Stan Wallace of Champaign, Illinois, who recently passed away; and WHEREAS, Stan Wallace was a native of Hillsboro, Illinois; in 1950 he came to the University of Illinois, where he went on to appear on two Big Ten championship football teams; and WHEREAS, Stan Wallace will be remembered for his interception of a pass during the University of Illinois' Rose Bowl game in 1952; Mr. Wallace returned the pass 56 yards and set up the school's go-ahead touchdown; the University went on to win 40-7; and WHEREAS, Stan Wallace went on to become the Chicago Bears first draft pick; he played with the team from 1954 to 1958; from 1959 to 1961 he played for the Toronto Argonauts in the Canadian Football League and was twice named the All-CFL player; and WHEREAS, In 1958 Stan Wallace returned to the University of Illinois and opened Stan's Gridiron, a campus bar that he operated until he opened Stan's Sportsworld in 1974; and WHEREAS, Stan Wallace was president of the Varsity "I" Association in 1978 and was a radio commentator for the Illini Sports Network for many years, broadcasting University football games; Mr. Wallace was the co-chairman of a planned reunion for the 1952 Rose Bowl players, scheduled for January 1, 2002; and WHEREAS, Stan Wallace is survived by his wife, Mildred "Midge"; his son, Cameron "Cam"; his daughter, Shauna Lierman; and his four grandsons; therefore, be it RESOLVED, BY THE HOUSE OF REPRESENTATIVES OF THE NINETY-FIRST GENERAL ASSEMBLY OF THE STATE OF ILLINOIS, that we mourn, along with all that knew him, the death of Illini great Stan Wallace; and be it further RESOLVED, That a suitable copy of this resolution be presented to the family of Stan Wallace.