UPTOWN — The Chicago Board of Education approved the sale of the shuttered Graeme Stewart School to upscale developer Morningside USA Wednesday.
According to a news release from CPS, the school was sold to Morning Side Equities Group, Inc. for $5.1 million. Following community input, "the site will be redeveloped to incorporate residential housing, retail and restaurant space, a community plaza and playground."
“This is the fifth former school site we have sold in the past three months, which represents significant progress in our deliberate process to thoughtfully repurpose former school sites and direct those proceeds to classrooms,” CPS CEO Forrest Claypool said in the release. “While we still have work to do, I am encouraged that the engagement process is working and expect this positive trend to continue.”
Friday, Ald. James Cappleman announced Morningside was the top bid out of the four bidders for the former school at 4525 N. Kenmore Ave.
“We are thrilled to convert this space into a new community hub that will expand access to quality housing and commercial space in our community with the sale of this building. We look forward to a redevelopment project that will preserve the history of the building, while expanding green space for use by the neighborhood," Cappleman said.
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