The fountain is considered Chicago's front door, since it resides in Grant Park, the city's front yard near the intersection of Columbus Drive and Congress Parkway. The fountain itself represents Lake Michigan, with each sea horse symbolizing the states of Illinois, Wisconsin, Michigan and Indiana, that border the lake. The fountain was designed by beaux arts architect Edward H. Bennett. The statues were created by the French sculptor Marcel F. Loyau. The design of the fountain was inspired by the Bassin de Latome and modeled after Latona Fountain at Versailles.

The fountain was donated to the city by Kate Buckingham in memory of her brother, Clarence Buckingham, and was constructed at a cost of $750,000. The fountain's official name is the Clarence Buckingham Memorial Fountain. Kate Buckingham also established the Buckingham Fountain Endowment Fund with an initial investment of $300,000 to pay for maintenance.[1] Buckingham Fountain was dedicated on August 26, 1927.