Ahh, thanks for sharing the link to the audited financials. Seems like it was insufficient then?
re: Bessie sale closing the gap, how does that work? BR is still planned to be open through probably early June 2026. If the Foster School is slated for completion, and we're relying on proceeds from BR sale, we'd need a buyer lined up to clos…
Ahh, thanks for sharing the link to the audited financials. Seems like it was insufficient then?
re: Bessie sale closing the gap, how does that work? BR is still planned to be open through probably early June 2026. If the Foster School is slated for completion, and we're relying on proceeds from BR sale, we'd need a buyer lined up to close almost immediately after the conclusion of SY25-26 and the funds to clear. Not sure that's something you can bank on.
I also question the projected revenue from selling Bessie Rhodes. We have heard from D65 that the building appraises for: $2 million, $3 million, $4 million, $5 million. We have never been given a source for any of these appraisals. Furthermore, Bessie Rhodes abuts Skokie's Timber Ridge Park. You cannot develop on this parkland. Any potential buyer is working with a very confined footprint. And finally, yes: none of the money from selling Bessie Rhodes will come to D65 BEFORE the new Foster School is completed, so it cannot be used to help PAY for the new Foster School...unless contractors now accept "promises" upon completion of work.
Ahh, thanks for sharing the link to the audited financials. Seems like it was insufficient then?
re: Bessie sale closing the gap, how does that work? BR is still planned to be open through probably early June 2026. If the Foster School is slated for completion, and we're relying on proceeds from BR sale, we'd need a buyer lined up to close almost immediately after the conclusion of SY25-26 and the funds to clear. Not sure that's something you can bank on.
Yeah it's cutting it really close, part of the reason why I'm a skeptic now
I also question the projected revenue from selling Bessie Rhodes. We have heard from D65 that the building appraises for: $2 million, $3 million, $4 million, $5 million. We have never been given a source for any of these appraisals. Furthermore, Bessie Rhodes abuts Skokie's Timber Ridge Park. You cannot develop on this parkland. Any potential buyer is working with a very confined footprint. And finally, yes: none of the money from selling Bessie Rhodes will come to D65 BEFORE the new Foster School is completed, so it cannot be used to help PAY for the new Foster School...unless contractors now accept "promises" upon completion of work.
Yeah the $5 million number the District has cited seems quite generous for a building that
1) Could be used as a school but needs a pretty large investment in improvements.
2) Could be used as residential but will require massive zoning change with the City.
3) Doesn't really have any commercial or other value.
Maybe this is where I can finally open the Tom Hayden School of Jazz Studies.