Duluth’s Old Central High School sells for $8M
Duluth’s old Central High School on top of the hill has been sold, with an $8 million price tag.
During a special school board meeting Monday, the School Board entered into a purchase agreement with Chester Creek View, LLC for the property.
The purchase agreement includes $250,000 in earnest money with a 60 day due diligence period, and is contingent on the school’s demolition and minimal site restoration.
The property being sold is eligible for Tax Increment Financing (TIF), but that is not a requirement of the sale.
“I am very pleased that the district is moving forward with the sale of Central High School for more than the asking price,” Superintendent John Magas said. “It will be helpful in providing additional resources to the students and families of the district, and will be a wonderful development opportunity for the city of Duluth.”
The sale and redevelopment of this property is the culmination of a plan put in place by the Duluth School Board in 2019, that included the sale and redevelopment of Historic Old Central High School, as well as the relocation of the district’s transportation and district services center. In October 2020, the school board approved a $3 million purchase agreement for HOCHS with Saturday Properties and closed on the sale in February.
A bid of $810,130 for the demolition of the building was approved last month by the Duluth School Board. The demolition is expected to start and be completed this fall.
This plan to sell both properties was adopted by the board to create efficiencies within the district and to aid in the redevelopment of two important Duluth properties, allowing for the district to focus additional efforts on existing school facilities and student outcomes.