What is the cost of building the Obama Presidential Center in Chicago?

According to what was reported, the estimated price for the construction of former President Barack Obama in Chicago increased to 850 million dollars – Almost three times the original estimate of $ 300 million, the proposed for the first time when the project was imagined.

The Obama Foundation stated that it has already spent more than $ 615 million at the Obama Presidential Center, which is located in Jackson Park on the southern side of the city, as of late 2024, Chicago Tribune said.

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The expected costs of the center have grown steadily over the years. The estimated budget was $ 500 million when the design was revealed in 2017, then jumped to 700 million dollars in 2021, only for construction costs, with the total estimated cost of up to 830 million dollars.

The Chicago -based non -profit organization is now offering the final estimate of $ 850 million, according to the newspaper, noting the spokeswoman for the Obama Emily Petner.

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The Chicago Tribune newspaper reported that the presidential campus, which was scheduled to open this year, opens next spring.

According to what was reported, the estimated price for the construction of former President Barack Obama in Chicago increased to 850 million dollars. Almost three times the original estimate of $ 300 million, the proposed for the first time when the project was imagined. (Stephen Compton)

The Chicago Tribune newspaper reported that the net net assets of the Obama Foundation recently occupied one billion dollars for the first time after collecting $ 195 million last year from about 92,000 donors, Chicago Tribune, citing the Foundation.

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When a deal was concluded to build the center, the Obama Foundation pledged to create a $ 470 million backup box to protect taxpayers. But the new tax deposits were deposited for only one million dollars, with no recent contributions.

The Chicago horizon is seen on Midway Airport on Friday, August 16, 2024. (Tom Williams / CQ-Roll Call, Inc via Getty Images / Getty Images)

Cathy Salvi, head of the Republican Party in Illinois, recently criticized the project as “abomination”, accusing Democrats of placing taxpayers at risk.

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“It should not be surprising that the Obama Center for taxpayer in Illinois is left high and dry – it is a democratic tradition in Illinois,” Salifi told Fox News Digital in a statement. “Democrats in this state, when they do not go to prison due to corruption, are treating taxpayers like a personal finger that gives his girlfriend’s deals to political beneficiaries.”

Obama and Barack Obama’s presidential library immediately did not respond to the Fox Business request for comment.

Michael Durgan of Fox News Digital contributed to this report.