While Chicago planned how to host the 1892–93 World's Columbian Exposition (World's Fair), the Art Institute wanted a new building. The Art Institute proposed that the city build a permanent building on the lakefront for the fair and give the new building to the Institute afterwards. The city agreed, and the building was completed in time for the second year of the fair. Construction costs were paid by selling the Michigan/Van Buren property. On October 31, 1893, the Institute moved into the new building. This building is now called the Allerton Building. It faces Michigan Avenue on the west and the Illinois Central Railroad track on the east.