The Chicago Sculpture Exhibit (CSE) and Richard Hunt partnered in 2021 to begin the Richard Hunt Award, which is granted to emerging sculptors to exhibit their sculpture for a 2-year period of time in the city of Chicago. Since Richard Hunt's passing in 2023, the Richard Hunt Legacy Foundation continues to support this award in his honor by providing funding for the CSE's biennial Richard Hunt Award.

During the CSE's 25th Anniversary Celebration, two of the Richard Hunt Award recipients, Gwen Yen Chiu (2021) and D.Lamar Preston (2025), described their inspirations for their sculptural creations during a panel discussion with Steve Zick, Senior VP and Director for Christie's Fine Art Auctioneers in Chicago.