The Union League Club of Chicago is looking to sell its prized Claude Monet painting to fund remodeling projects at its nearly century-old Loop location.
The club bought the painting, titled “Pommiers en Fleurs,” or Apple Trees in Blossom, from one of its members in 1895 for $500.
Frank DeVincentis, who’s chairing the remodeling effort, declined to speculate on how much the painting might fetch. But he did say the number would surely be well above $7.2 million — the price an Australian art dealer falsely claimed he had a contract to buy it the last time the club contemplated selling it in 2020.
DeVincentis said it’s possible the piece could end up at the Art Institute of Chicago.
“It would be a great story to add to their Monet collection while also satisfying our needs,” he said.
No institution beyond France is more closely associated with Monet than the Art Institute. With 33 paintings, it boasts the largest collection of his works outside of Paris.
A message left with the Art Institute seeking comment was not immediately returned Wednesday.
Proceeds from the Union League Club sale would go toward updating private rooms members and guests use for overnight stays, as well as the club’s event spaces and gym and spa. Money would also go toward paying down debt and adding to the club’s extensive collection of American art.
The Monet is not on display as it is going through a pre-sale process with the help of the Winston Art Group of New York.
Its normal home is on a wall on the club’s second floor.
“It’s just up the stairs and on your right. It’s pretty subtle,” DeVincentis said.
Club President Cynthia Doloughty told members in a March 13 letter that the club’s board of directors had approved the sale of the Monet, as well as a Walter Ufer painting titled “Land of Mañana.”
“We’re excited about the future and think now is a good time to reinvest for that future,” said DeVincentis, noting that institutions in big cities across the country have faced the same challenges in recent years and are at a crossroads.
“Do we reinvest and prepare for a future that adds more vitality and health to the city and city center? Or do we cut bait and run? We’re encouraged by the numbers and activity and think Chicago is a wonderful city long term and our home, and we want to reinvest for that future,” he said.
