Interestingly, I was at a pastor’s circuit meeting this past week, where we discussed a certain - institution that I once attended (and from which I graduated), which is a place a few people who read this share with me, and so I felt like sharing that information… because it is so interesting to us.
Concordia University - River Forest is currently $50M in debt. $5M in the past year alone.
I knew for a fact (based on a letter from C.D. Froehlich) that they were selling all properties on Bonnie Brae to attempt to recoup some money. But what most of us didn’t know - and I know now (and so do you) - is that they have actually begun looking into the possibility of selling the university itself - or at least the land on which it sits.
Problem is, they can’t. Well, at least, not easily. You see, it seems that the land on which CU-RF sits is zoned by River Forest as “university” zoned land. They can only sell it to another higher education institution. Now, apparently, they either haven’t researched re-zoning, or it’s not possible to re-zone the land.
Thought you’d find that interesting.