ANDERSONVILLE — Svigos Development has closed on its deal to buy the shuttered Trumbull School building, Ald. Pat O'Connor (40th) announced in a newsletter Wednesday.
The development company won the bidding war for the property at 5200 N. Ashland Ave. in August 2015 promising to transform the building into residential units with TimeLine Theatre Company on the first floor, but the theater company backed out of the deal a year later.
The landmarking process made it difficult for the two groups to make a deal that worked for both sides.
Svigos Development is still looking for a theater company to fill the space on the first floor and is "working toward beginning the residential and theater development," O'Connor said in the newsletter, adding he would continue to update residents on the progress.
In May, the Chicago Board of Education approved changes allowing "a privately funded, non-public school" to use the former school building — a change that's good news for the Waldorf School, which has shown interest.
