Old Town School Postpones Sale Of Lincoln Park Campus

CHICAGO — The Old Town School of Folk Music is delaying the sale of its Lincoln Park building until the spring, its board of directors announced. The board met last week and decided to "extend the discussion period" until March 31, according to a news release.

“We heard from our community that it wants more time to bring forward other possible options to selling 909 W. Armitage, so last Thursday, the Board elected to extend the time to listen to and engage our community. Working groups and meetings are being scheduled now,” said Board Chairman Kish Khemani in the media release.

“Perhaps we can find creative solutions through these discussions. The Board is open to ideas that help improve communications and address long- and short-term challenges. We have a passionate community and everyone involved has the school’s best interest at heart.”

The school announced in October that it was putting its iconic Lincoln Park campus up for sale and all proceeds would go its endowment fund. Many community members have since rallied to save the school — a petition garnered thousands of signatures and the group Save Old Town School was created.

Old Town School is facing a current operational budget shortfall in 2018 that "continues to require immediate action steps," the board said in its media release. The steps include moving forward with offers for a voluntary buyout package for administrative staff; closing its Lincoln Park music store in mid- January; and other possible costs reductions to maintain a balanced operating budget, the board said.

The school said it currently has no debt.

The board has appointed deputy director Rashida Phillips as Acting Executive Director, following the unexpected medical leave of Executive Director Bau Graves.

Image via Google Maps Streetview