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Land of Lincoln-Way: Why D210 Isn't Selling

During a community forum last month, a couple parents why the Lincoln-Way High School District wouldn't sell properties it owns to help make up for a budget deficit.

When District 210 , some parents were curious about possible revenue that wasn't discussed.

During a community forum last month, a couple parents why the wouldn't sell properties it owns to help make up for a budget deficit.

Supt. Larry Wyllie said in a later interview that the answer is pretty simple: One property would be sold now if a buyer was in place, and the others would be worth more to the district if sold or built on later, not now.

Before opening Lincoln-Way North in 2008, the district had purchased 73 acres near Harlem Avenue and 191st Street in Tinley Park. Wyllie said District 210 has a contract with the to sell the land for $7.5 million, but part of the contract calls for the village to have a developer committed to that property.

"They want to bring in a big-name buyer," Wyllie said. "We just haven't been able to close the deal yet."

Although Wyllie said that sale of land would put the district in a good position, he wasn't ready to put two properties in Manhattan on the market. Projecting for future growth, the district purchased 80- and 100-acre properties to the south.


The reason the district purchased that land was because it projected it would build a fifth school by 2015. That's not the case because of the housing market crash, but Wyllie and the school board members believe they will still need to down the line.

"We bought land at the right time," board member Chris Kosel said during the public forum. "If we have to buy the land later, at a time we need it, it’s very very expsenive. If we sold it today we would take a loss compared to where we bought it."

Rebecca Wharrie February 15, 2012 at 05:49 PM
While it isn't the best time to sell real estate, sometimes you have to liquidate assets to raise capital. It's not a good time for many of us to have our expenses (for educating our kids) to go up yet again, but we don't have a choice in that matter. A buyer might become available if the properties became available. (IMO), An effort has to be made to reduce expenses that doesn't immediately cost parents and tax payers more money.
Mokena Mike February 16, 2012 at 12:05 AM
It's a well known fact within the district that Dr. Wylie as a priceless artifact that men have died while searching for. It's called the Ark of the Covenant and he who possesses it is said to be invincible. Could selling this be the financial windfall the district needs right now?

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