A true collector and aficionado will pay upwards of $4000 for that 1911 being that the history is known. On the street, or rather in a pawn shop they'd offer you $400 and tell you it is in rough shape.
Do not sell that, I'd put it away after giving it a nice coat of fine gun oil. Also, do not store it in the holster, put it in a legit case. I'd get the SN written down and stored somewhere safe, and I wouldn't be afraid to put it in a trust.
What you have is worth far more than most of us can comprehend, please hang on to it and write down the story behind it for future generations to enjoy.