How much were bids for McHenry’s Landmark School? And who made offers that vary widely?

When the McHenry District 15 school board voted in January to put Landmark School up for sale by closed bid, the board did not set a minimum sale price.

An idea of their minimum price might soon be known. The board is expected to vote Tuesday on whether to accept either of the two bids it received for the 131-year-old school building at 3614 W. Waukegan Road, McHenry, or reject both bids and go back to the chalkboard to work out a plan for the school.

“The next steps are for the [school board] to evaluate the bids and determine if they want to accept any of them or not,” Superintendent Josh Reitz wrote in an email to the Northwest Herald, adding that the board “can reject all bids if they so choose.”

One bid, for $20,000, came from Southfork Premier Properties, LLC.

The second bid, for $210,000, came from Wauconda-based True North Properties, Inc.

The Southfork bid did not include any details about the building’s possible future, but a search of news stories showed the company has a history of purchasing old schools throughout the Midwest. In 2021, Southfork purchased the shuttered Van Orin School in Bureau County for $11,100.

Reached by phone, Southfork President George Duncan said he has clientele that “looks for buildings like schools. It is all about concrete, parking, taxes and if it fits their needs,” Duncan said. He later resold the Van Orin School, Duncan added.

As for True North Properties, the company has a history of renovating historic buildings into apartment units. True North has redeveloped Crystal Lake’s Faith Lutheran High School and Immanuel Lutheran Church, Cary’s Schoolhouse Apartments, and Huntley’s Cornell Apartments.

In February 2024, Huntley sold its former Village Hall to True North for $10, along with a redevelopment agreement for the property that includes restaurant and banquet space. The company paid $100,000 each for the Cary schoolhouse and the Huntley Cornell property.In its proposal to the District 15 Board, True North’s Nick Ieremciuc suggested the Landmark could be split into 20 one-bedroom and studio apartments.

“It is an impressive building with a substantial amount of historical significance and architectural beauty and ... everyone is motivated to preserve both of those elements to whatever extent is feasible,” Ieremciuc’s proposal states.

McHenry Mayor Wayne Jett attended the bid opening at the District 15 offices on Monday “to see what bids were coming in and what the proposals are for that site. It is important to know what they are looking to develop there.”

The city of McHenry is not looking to purchasing the school from the district, Jett said: “I am not interested and I don’t think the Council is. It is not something the city should be taking on ... if it is not going to bring in revenue.”