JACKSONVILLE, Ill., Sept. 23, 2020 /PRNewswire/ -- A public auction of the MacMurray College campus will take place on site this fall, with an anticipated bidding audience to include a diverse group of investors, end users, non-profits and educational entities, according to Williams & Williams Real Estate Auctioneers, which has been chosen to sell the historic campus. Bidding will be available both on site and online and is open to the public.
The historic campus is located 25 miles west of Springfield. Founded in 1846, MacMurray's Board of Trustees voted unanimously in March to close at the end of the spring semester after determining there was no viable financial path forward in the wake of declining enrollments, rising competitive costs, and an insufficient endowment. The COVID-19 pandemic and economic disruption it caused complicated MacMurray's financial condition, but they were not the principal reasons for the Board's decision to close.
The auction will take place in the Gamble Campus Center, 613 E. Beecher Ave., at 10am on Nov. 12. The sellers are open to receiving pre-auction offers on any of the parcels being auctioned.
"We are honored to be chosen to conduct this auction for the 'Mac Family' and to help with the re-stewarding of this important real estate," said Fontana Fitzwilson, Executive Vice President of Williams & Williams. "The college has been an important part of Jacksonville and we hope to bring in new owners who will continue to support the community."
"We're delighted to have access to the services of a firm with the reputation and resources of Williams & Williams as we fulfill our fiduciary responsibilities for an orderly closure of MacMurray College," said John Nicolay, Chairman of the Board of Trustees ('90). "Working with their team takes some of the sting out of a difficult and emotional process for the Mac Fam."
Fitzwilson said the auction is structured to give individual buyers an opportunity to acquire various buildings, although one parcel includes multiple buildings that would be suitable for a smaller school or other educational use. School officials say there has been interest in the auction already due to the pre-auction publicity.
The real estate will be available for public inspection from 11-3pm on Oct. 23 and 30. The buildings are not currently open, although interested parties are able to walk the exterior of the campus during daylight hours. On auction day, high bidders will be required to place a 10% down payment and go under contract immediately. Terms of the auction require a 30-day close.
Terms, maps, and photos can be found at https://www.WilliamsAuction.com/MacMurray. Bidders may participate on site or online simultaneously during the live auction. Online bidding is powered by AuctionNetwork.com. There is no deposit required to register to bid.
SOURCE Williams & Williams