The Union League Club sells a Monet to finance the renovation of its facilities

The Union League Club sells a Monet to finance the renovation of its facilities

Jean Dubreil | Mar 21, 2024 2 minutes read 0 comments
 

The Union League Club of Chicago plans to sell its Claude Monet painting "Pommiers en Fleurs" to fund renovations at its historic facility. The proceeds will enhance member services, reduce debt, and contribute to the club's American art collection.


The Union League Club of Chicago has announced plans to sell a highly valued painting by Claude Monet titled "Pommiers en Fleurs" (Apple Trees in Bloom) to support extensive renovation efforts at its historic location in the Loop, which is nearing its centenary. The club originally acquired this piece in 1895 for a mere $500 from one of its members. The expected proceeds from the sale are anticipated to far surpass the $7.2 million offer from a previous sale attempt in 2020, which was eventually proven to be based on a false claim by an Australian art dealer.

The motivation behind selling this prestigious artwork is to fund upgrades and modernization projects within the club’s facilities. These enhancements include improvements to private rooms used by members and guests, refurbishments to the club’s event spaces, and updates to the fitness and spa areas. Furthermore, a portion of the proceeds will be used to reduce the club’s existing debts and to contribute to the expansion of its extensive American art collection, underscoring the club’s ongoing commitment to cultural patronage.


Frank DeVincentis, who is overseeing the remodeling projects, has refrained from making speculative statements about the exact financial yield expected from the sale of the Monet painting. However, he highlighted that the proceeds would significantly bolster the club’s renovation budget. He also floated the possibility of the artwork becoming part of the Art Institute of Chicago’s prestigious collection, which already holds the largest compilation of Monet paintings outside Paris, further solidifying the city’s cultural linkage to the famed Impressionist artist.

The painting is currently not on display as it undergoes a pre-sale process facilitated by the Winston Art Group in New York, but its usual location is well known among the club members, positioned subtly on the second floor. The sale has been approved by the club’s board of directors and has been communicated to the members by Club President Cynthia Doloughty, highlighting the leadership’s view that this is a strategic moment for reinvestment into the club’s future.


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