Art Institute Of Chicago Receives Its Largest Cash Donation

It turns out there's a lot more money in owning a racetrack than betting at one. 

Janet and Craig Duchossois announced that they will be donating $50 million to the world-class art gallery. The Duchossois are part owners of the Arlington Racetrack and Churchill Downs. In addition to their 50 million, board trustee Robert Levy and his wife Diane, said that they will donate an additional $20 million to bring the grand total to $70 million.

ChicagoTribune - Before Tuesday’s, the Art Institute’s largest cash gift was announced in 2016, a $35 million donation from one of its steadiest benefactors, the late Massachusetts collector Dorothy Braude Edinburg.

Unlike most other large donations, this one comes with no strings attached. They are giving the Art Institute carte blanche to do whatever they want with it.

While $70 million is the largest cash donation, it doesn't come close to the highest valued donation. That came back in 2015.

...when Chicago philanthropists and collectors Stefan Edlis and Gael Neeson donated more than 40 modern and contemporary works. The combined value of the art, including nine Warhols to fill a significant gap in Art Institute holdings, was estimated at more than $400 million.

It must be nice to be in that arena of wealth.

You can check it out for free though. The Art Institute is free to all residents every Thursday after 5 PM. Admission for adults is $20 ($25 for out of state) the rest of the time. If you've never been I highly recommend it. I don't even really like art and was amazed by what I saw.