CPS Agrees To Sell Nine Surplus Properties For Over $1.87 Million 


Surplus Properties Have Been on the Market Since 2012

FOR IMMEDIATE RELEASE:
Thursday, January 29, 2015

For more information, contact:
CPS Office of Communications

CHICAGO – Chicago Public Schools (CPS) announced today the Board of Education approved agreements to sell nine surplus properties for $1,879,600. By selling these properties, which have been unused for a number of years, CPS will receive significant payment while also ending annual maintenance costs associated with each location.

“The sale of these properties will help us continue to support the crucial investments we have made in schools throughout Chicago,” said CPS CEO Barbara Byrd-Bennett. “With the difficult financial challenges the District is facing, it is critical for us to maximize our resources, which includes reducing the unused properties in our real estate portfolio and eliminating the maintenance costs.”

The nine properties CPS has agreed to sell were part of a bid solicitation advertised publicly from April to October 2014. In accordance with state law, CPS is selling each property to the highest bidder. In instances in which two or more bids were submitted, CPS negotiated with bidders to maximize the final offer. Because the titles and trusts for these properties are held by either the City of Chicago or the Public Building Commission of Chicago (PBC), the Board will work with the City and the PBC to gain approval on these sales.

The property sales approved today do not involve any of the schools that were part of the 2013 School Actions. Unlike properties that were involved in the 2013 School Actions, these properties were sold under pre-existing Board guidelines and were not subject to the community hearing process that has guided the redevelopment of those former school sites.

The Board of Education approved the sale today of the following properties:

  • 1437 N. California Ave: This parcel of vacant land will be sold to Sean McKeough for $900,000. The annual cost to maintain this property was $5,000.
  • 511 W Plymouth Ct: This parking lot will be sold to Park One for $635,000. The annual cost to maintain this property was $2,500.
  • 5211-29 S. Prairie Ave: This parcel of vacant land will be sold to the Washington Park Development Group for $144,000. The annual cost to maintain this property was $4,000.
  • 9101 S. Jeffrey Blvd: The former Davis Development School building, which has been vacant since 2009, will be sold to the Akugbe-Oretin Club for $100,100. The annual cost to maintain this property was $14,000.
  • 112 W. Garfield Blvd: This parcel of vacant land will be sold to the Washington Park Development Group for $62,500. The annual cost to maintain this property was $5,000.
  • 6615 S. Kenwod Ave: The former Dumas Child Parent Center building, which has been vacant since 2010, will be sold to the Sigma Omega Foundation for $30,000. The annual cost to maintain this property was $9,000.
  • 115 W. 108th St: The former Washington School building, which has been leased to Holy Ghost Cathedral since 2008, will be sold to the Holy Ghost Cathedral for $3,000. The annual cost to maintain this property was $13,000.
  • 1540 W. 84th St: The former Cuffe school building, which has been vacant since 2009, will be sold to Edward Rohn for $2,500. The annual cost to maintain this property was $11,000.
  • 91st-93rd & Vanderpoel: This parcel of vacant land will be sold to Edward Rohn for $2,500. The annual cost to maintain this property was $5,000.

 

Chicago Public Schools serves 396,000 students in 664 schools. It is the nation’s third-largest school district.