GUEST: My aunt left it to me.

She had had it since the early '70s, '71 or '72, I believe.

APPRAISER: And what do you know about it?

GUEST: Well, I know it's a painting of the Art Institute, and it, I can remember her having it for many years, hanging in her living room.

APPRAISER: Do you know where your aunt acquired this painting from?

GUEST: No.

She lived in Chicago most of her life.

APPRAISER: Uh-huh.

GUEST: And I don't have any idea, and I now wish I had asked her, but I don't know.

APPRAISER: This is the Art Institute of Chicago, with the lions as the landmark that's clearly identifiable.

And these are the steps that lead down to Michigan Avenue.

And you see all of the city activity beyond.

The artist is William Clusmann.

He was born in Indiana in 1859.

He attended the School of the Art Institute of Chicago.

GUEST: Okay.

APPRAISER: And he also went to Germany.

He exhibited extensively at the Art Institute of Chicago, but he was considered a Hoosier painter, which is Southern Indiana.

The records show about just shy of 160 works...

GUEST: Oh, that's a lot.

APPRAISER: ...in his time.

I would think that based on the costume of the figures and his peak period being around 1910...

I would say that this is about 1910.

It dates from the time the artist worked and lived in Chicago.

I think that that also is played out in the frame, which is a period frame.

The painting is oil on canvas.

GUEST: Okay.

APPRAISER: The work might benefit from a cleaning.

There's some discoloration in the whites and there are some little fly specks.

But it's in generally excellent condition.

The glass has protected it all these years.

GUEST: Mm-hmm, good.

APPRAISER: Most of his works are landscapes, and they sell in the $1,000 to maybe $3,000 range.

GUEST: Mm-hmm.

APPRAISER: If this were to come up in an auction, the estimate would be between $30,000 and $50,000.

GUEST: That's nice.

(laughs) APPRAISER: Because this is the Art Institute of Chicago...

GUEST: Mm-hmm.

APPRAISER: ...with American flags all throughout the painting, that creates more interest.

GUEST: Mm-hmm.

APPRAISER: Paintings with American flags always sell for more than just street scenes.

GUEST: Huh, really?

APPRAISER: We think this could probably set a record for the artist...

GUEST: Oh, that'd be great.

APPRAISER: ...if it were to come up at auction.

And for insurance...

GUEST: Mm-hmm.

APPRAISER: ...it would probably be in the $75,000 to $80,000 range.

GUEST: Wow, wow.

Needs to be insured.

(laughs) My mother used to take me downtown, and we would go to the art museum, and that's why it's special to me.

It brings back memories, that's for sure.