The Johnsburg School District 12 Board has approved the sale of its former James C. Bush Elementary School.
The sale is expected to close Sept. 17, Superintendent Dan Johnson said.
“The buyer intends to use the property for an age 55-and-over community,” he said. “We have not seen any other bids come through for the property.”
The estimated 45,480-square-foot property at 2117 W. Church St. was marketed as a multiuse facility in its real estate listing.
The board approved the $750,000 sale at its Oct 23 meeting.
General Capital, a real estate firm with locations in Chicago, Northbrook, Milwaukee and Fox Point, Wisconsin, is the buyer, Johnson said.
General Capital touts multiple housing and business park developments throughout Wisconsin.
The firm also has developed an affordable housing property in Port Byron, Illinois, a U.S. Immigration and Customs Enforcement center and a U.S. Coast Guard and Customs and Border Protection center in Florida, according to its website.
The district shuttered the school as part of a $41 million facilities overhaul. The project included closing the school and moving its students to an improved Johnsburg Junior High School campus.
The project also called for renovations at Johnsburg High School.