Art Institute of Chicago receives $400M collection, largest gift in its history

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CHICAGO (AP) — The Art Institute of Chicago is receiving a major gift of contemporary art, including works by Andy Warhol, Roy Lichtenstein, Jasper Johns and Jeff Koons.

The museum said Wednesday that it is receiving 42 pieces from Chicago-based philanthropists Stefan T. Edlis and Gael Neeson. The institution called it the largest gift of art in its 136-year history.

The Chicago Tribune reports the collection has an estimated value of $400 million.

Edlis says he chose the Art Institute because the museum “proposed keeping the works on permanent view for 50 years.”

Art Institute officials said all 42 pieces will be installed in early 2016 in the contemporary galleries in the museum’s Modern Wing. Highlights of the donation include two Warhol self-portraits and Warhol works depicting Jacqueline Kennedy Onassis and Elizabeth Taylor.

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