Is $500,000 a fair sale price?
Aging school buildings are a redesign challenge and highly costly to retrofit to meet today’s efficiency standards. Once closed, they tend to remain empty, with continued liability and maintenance cost to districts and taxpayers. Based on research into regional equivalents, and the experience of the district’s legal counsel, Park Grove’s offer of $500,000 is as well above range for a small school building such as Bryant Elementary. Similar buildings have sold for under $50,000.