The building's South Portico will be rebuilt to increase accessibility and create more public spaces.
The project is set to be completed in 2027, will also open up access from Jackson Park into the Museum of Science and Industry.
The funds came from the Richard H. Driehaus Foundation.
The restoration will incorporate a variety features, including an elevator, to provide accessible entrance to the museum.
"Restoring the South Portico is not only about preserving a historic architectural treasure but also supporting the museum's efforts to connect more deeply with the community," said David Vitale, Griffin MSI Board Chairman.
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