Composition (No. 1) Gray-Red (1935) is a famous abstract oil painting by Dutch artist Piet Mondrian, known for its grid of black lines, grey and white tones, and a distinct red square, embodying the De Stijl movement's pursuit of universal harmony through basic geometric elements on an off-white background. Currently housed at the Art Institute of Chicago, it's a prime example of Mondrian's mature Neoplasticism style, reducing reality to essential lines and colours. 

Key Details:
Artist: Piet Mondrian (1872–1944)
Date: 1935
Medium: Oil on canvas
Dimensions: 57.5 × 55.6 cm (22 5/8 × 21 7/8 in.)
Location: Art Institute of Chicago (Gift of Mrs. Gilbert W. Chapman)