Duluth Public Schools Enters Into New Agreement To Sell Central High School
DULUTH, Minn. — Duluth Public Schools will sell Central High School to a company called Chester Creek View, LLC for $8 million, the district announced on Monday.
The school board voted on the deal on Monday night, and the decision was unanimous.
“The board unanimously approved moving forward with the purchase agreement,” Jill Lofald, the school board chair, said in a press release. “This is an exciting next step which will be beneficial for our schools and our community.”
As part of the deal, the school district must demolish the building, which will happen this fall and cost a little more than $810,000.
The property is also eligible to become a TIF, or tax increment financing, district.
The sale is a big victory for ISD 709 after Saturday Properties LLC backed out of its deal in March to buy the property for $7.4 million.
“I am very pleased that the district is moving forward with the sale of Central High School for more than the asking price,” superintendent John Magas said in a press release. “It will be helpful in providing additional resources to the students and families of the district, and will be a wonderful development opportunity for the city of Duluth.”
The deal includes a good faith deposit of $250,000, along with 60 days carved out for a due diligence period.
Just this past weekend, memorabilia from Central High School was auctioned off by an alumni group, with the money raised going toward scholarships.
The district says that this agreement represents the final step of the school board’s plan for older properties, after the Historic Old Central High School was sold to Saturday Properties in a $3 million agreement back in October of 2020, with that deal closing in February.