President Barack Obama delivers a prime time address from the Cross Hall of the White House on Sept. 10, vowing to target the Islamic State with air strikes "wherever they exist." On Monday, the finalists for the Obama library and museum were announced: the University of Chicago, the University of Illinois at Chicago, Columbia University and the University of Hawaii. | Saul Loeb-Pool/Getty Images
WASHINGTON — The finalists for the Obama library and museum announced Monday — the University of Chicago, the University of Illinois at Chicago, Columbia University and the University of Hawaii — face a very heavy lift to win the competition. The Chicago-based Barack Obama Foundation, in naming the final four, also released an 18-page bid document — called a “Request for Proposal” — that sheds light, for the first time, on the gigantic financial commitment the bidders must make — in perpetuity.