LA GRANGE, IL – A Columbus, Ohio-based residential developer was the top bidder Monday for Lyons Township High School's 70 acres in Willow Springs, at $28.2 million.
M/I Homes, which has an office in Naperville, was followed closely by Atlanta's Pulte Group, which bid $27.5 million on the wooded land. In January 2024, Pulte's unsolicited offer was $18.8 million.
The other bidders were Elmhurst's Nitti Group at $21.7 million and Burr Ridge's McNaughton Development at $13.1 million.
All four are residential developers. In January 2023, Bridge Industrial, now Kurv Industrial, bid $55 million, while Prologis, also industrial, followed at $46.5 million. That process unraveled amid local opposition.
Industrial land in urban areas typically draws higher bids. But the high school's property is zoned residential, with a small retail component allowed.
Homeowners near the property attended the bid opening. They were relieved that no industrial bidders made offers.
"I'm heartened that they are residential developers," resident Jim Distasio said. "We're glad that the message was received loud and clear that industrial is not allowed on the property."
Resident Fred Whiting agreed.
"This is exactly the way it should have gone," he said. "Now, it's up to the board to choose who they think is best."
The school board is expected to choose a firm as soon as next Monday. The administration is likely to recommend the top bidder, but it must consider other factors, including the company's capability, legal standing and ability to pay.
Three years ago, the bid opening was held in the middle of the day. But the school moved it to the evening this time so that residents could attend. About a couple of dozen did. The seven-minute event was livestreamed.
The school's business director, Brian Stachacz, read the name of each company on the outside of the envelope, then opened it.
He would hand it to the school's lawyer, James Levi, who revealed the amounts.
Levi said another bid was submitted by email, but the school rejected it because it was deemed noncompliant.
School officials appear to be striving for more openness this time around.
For much of 2022, the school secretly courted industrial developers, despite the zoning ban on industrial uses. The land is next to houses and an elementary school
In closed meetings, school board members said they wanted to keep their industrial plan a secret for as long as possible. They expected neighbors' wrath.
After the bid opening, an uproar ensued. The board abandoned the process weeks before the April 2023 school board election.
The attorney general later found the board repeatedly violated the open meetings law, prompting the release of closed-session recordings. The board blamed its law firm for the lack of openness.
The school wants to use the proceeds from the sale for building projects at its two campuses.
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