JOLIET TOWNSHIP – The minimum price for the 40-acre Laraway School property has been lowered to $5.3 million while another auction is about to begin.
The Laraway School District 70C Board agreed this week to put the property up for auction again as it prepares to move the school to a new location on Rowell Avenue.
The school district will host a groundbreaking ceremony for the new school at 9 a.m. Saturday.
No bids were received in the first auction, which ended April 19. The school district asked for a minimum of $5.75 million the first time.
Superintendent Joe Salmieri said the lowered price takes into account some of the costs of redeveloping the property, which is located at 275 W. Laraway Road in Joliet.
“I think we’re taking into consideration that there needs to be some demolition of the current building and some improvements,” Salmieri said Thursday.
An appraisal for the school district set the value of the property at $5.54 million.
The new auction starts Sunday, when it first will be advertised, and will run until 10 a.m. June 15.
The school board will consider bids for the property at its June 20 meeting.
The school board, which met Tuesday, also approved an annexation agreement that would put the property in the Joliet city limits. The Joliet City Council will next vote on the annexation.
The existing school is located on a heavily traveled route used by trucks moving to and from CenterPoint Intermodal Center-Joliet and other industrial facilities in the area.
The new school at 1715 Rowell Ave. is scheduled to open in fall 2018.
Excavation of the site already has started.