In February 1999, the city announced it was negotiating with Frank Gehry to design a proscenium arch and orchestra enclosure for a bandshell, as well as a pedestrian bridge crossing Columbus Drive, and that it was seeking donors to cover his work. At the time, the Chicago Tribune dubbed Gehry "the hottest architect in the universe" in reference to the acclaim for his Guggenheim Museum Bilbao, and they noted the designs would not include Mayor Richard M. Daley's trademarks, such as wrought iron and seasonal flower boxes.

Millennium Park project manager Edward Uhlir said "Frank is just the cutting edge of the next century of architecture,"and noted that no other architect was being sought.Gehry was approached several times by Skidmore architect Adrian Smith on behalf of the city. His hesitance and refusal to accept the commission was overcome by Cindy Pritzker, the philanthropist, who had developed a relationship with the architect when he won the Pritzker Prize in 1989. According to John H. Bryan, who led fund-raising for the park, Pritzker enticed Gehry in face-to-face discussions, using a $15 million funding commitment toward the bandshell's creation. Having Gehry get involved helped the city realize its vision of having modern themes in the park; upon rumors of his involvement the Chicago Sun-Times proclaimed "Perhaps the future has arrived",while the Chicago Tribune noted that "The most celebrated architect in the world may soon have a chance to bring Chicago into the 21st Century".[19]Plans for the park were officially announced in March 1998 and construction began in September of that year. Initial construction was under the auspices of the Chicago Department of Transportation, because the project bridges the railroad tracks. However, as the project grew and expanded, its broad variety of features and amenities outside the scope of the field of transportation placed it under the jurisdiction of the city's Public Buildings Commission.In April 1999, the city announced that the Pritzker family had donated $15 million to fund Gehry's bandshell and an additional nine donors committed $10 million. The day of this announcement, Gehry agreed to the design request. In November, when his design was unveiled, Gehry said the bridge design was preliminary and not well-conceived because funding for it was not committed. The need to fund a bridge to span the eight-lane Columbus Drive was evident, but some planning for the park was delayed in anticipation of details on the redesign of Soldier Field. In January 2000, the city announced plans to expand the park to include features that became Cloud Gate, the Crown Fountain, the McDonald's Cycle Center, and the BP Pedestrian Bridge. Later that month, Gehry unveiled his new winding design for the bridge.

Mayor Daley's influence was key in getting corporate and individual sponsors to pay for much of the park.Bryan, the former chief executive officer(CEO) of Sara Lee Corporation who spearheaded the fundraising, says that sponsorship was by invitation and no one refused the opportunity to be a sponsor. One Time magazine writer describes the park as the crowning achievement for Mayor Daley, while another suggests the park's cost and time overages were examples of the city's mismanagement. The July 16–18, 2004, opening gala was sponsored by J.P. Morgan Chase & Co. The community surrounding Millennium Park has become one of the most fashionable residential addresses in Chicago. In 2006, Forbes named the park's 60602zip code as the hottest in terms of price appreciation in the country, with upscale buildings such as The Heritage at Millennium Park (130 N. Garland) leading the way for other buildings, such as Waterview Tower, The Legacy and Joffrey Tower. The median sale price for residential real estate was $710,000 in 2005 according to Forbes, also ranking it on the list of most expensive zip codes. The park has been credited with increasing residential real estate values by $100 per square foot ($1,076 per m2).

Features

Millennium Park is a portion of the 319-acre (1.3 km2) Grant Park, known as the "front lawn" of downtown Chicago,and has four major artistic highlights: the Jay Pritzker Pavilion, Cloud Gate, the Crown Fountain, and the Lurie Garden.[Millennium Park is successful as a public art venue in part due to the grand scale of each piece and the open spaces for display. A showcase for postmodern architecture, it also features the McCormick Tribune Ice Skating Rink, the BP Pedestrian Bridge, the Joan W. and Irving B. Harris Theater for Music and Dance, Wrigley Square, the McDonald's Cycle Center, the Exelon Pavilions, the AT&T Plaza, the Boeing Galleries, the Chase Promenade, and the Nichols Bridgeway.