The cost of the project, managed by the Obama Foundation, has also reportedly skyrocketed from an original estimate of $300 million to at least $850 million. In 2017, the estimated budget clocked in at $500 million when the design was unveiled. It later increased to $700 million in 2021, due to construction costs alone.
In order to protect Chicago taxpayers from a bailout, the Obama Foundation made an agreement with the city that mandated the establishment of an endowment. It would act as a financial reserve designed to generate sufficient interest each year to fund operations without ever depleting the principal and leaving taxpayers on the hook. During the city council’s deliberations, the foundation settled on a $470 million figure around 2020.
https://dailycaller.com/2025/09/29/chicago-barack-obama-presidential-library-costs-delay-taxpayers/