Per the Chicago park District website:

"Buckingham Fountain is a Chicago landmark in the center of Grant Park. It is one of the largest fountains in the world.

The Fountain officially opened to the public on May 26, 1927, and was dedicated on August 26, 1927. As the centerpiece of Grant Park—'Chicago’s Front Yard', architect Edward H. Bennett (1874–1954) designed the Fountain to serve as the park’s formal focal point without obstructing the views of Lake Michigan.

Kate Sturges Buckingham (1858-1937) dedicated the structure to the people of Chicago in 1927 in memory of her late brother, Clarence, donating one million dollars for the Fountain.

Edward H. Bennett designed the monument in collaboration with French sculptor Marcel Loyau and engineer Jacques H. Lambert.

Inspired by the Latona Basin at Versailles in France, the structure is composed of four basins clad in elaborately carved granite and pink Georgia marble.

The Buckingham Fountain, however, is twice the size and re-circulates approximately three times more water than its French counterpart.

Chicago’s Fountain is also unique as it symbolizes Lake Michigan. Conveying the enormity of the lake, its major display uses as much as 15,000 gallons of water per minute and sprays water to a height of 150 feet from the ground.

The massive lower basin features four sets of Art Deco style sea horses representing the four states that border Lake Michigan. To create the sea-related bronze elements, sculptor Marcel Loyau studied the sea horse collection at a zoological institution in Paris.

The Fountain’s sculptural elements garnered Loyau the Prix National at the 1927 Paris Salon.

The monument’s original design included colored lighting to emulate soft moonlight. During the dedication in August of 1927, John Philip Sousa conducted while his band played 'Pomp and Circumstance' before an audience of 50,000 people."