LINCOLN, Ill. (CAPITOL CITY NOW) – Officials in Lincoln say what they call a benefactor wants to breathe new life into the former Lincoln College campus.
Lincoln Economic Advancement and Development — or, LEAD — says the unidentified buyer has purchased the campus, and will lease space out for a dollar to both for- and not-for-profit organizations looking to start or expand.
“This is an incredible opportunity for organizations to grow in a community that has so much to offer,” said Uriah Kilgallin, CEO of LEAD, in a news release. “A gift like this doesn’t come along often, and the benefactor who founded EZ 37:4-5 is opening the door for nonprofits and businesses alike to build something lasting here — new jobs, new investment, and, much like the referenced passage, breathing life into the economy of Lincoln. We’re excited to help connect the right organizations with this opportunity, and just as excited to introduce them to everything that makes Lincoln such a special place to grow.”
The lease, officials say, can lead to options to purchase the land they’re in for $40 to $50 per square foot.
LEAD says Requests for Information are being sought now, and the application is available on LEAD’s website. Five of the properties on campus are being used for the program.
A building walk-through is scheduled for September 29 at 1:00 p.m. at 300 Keokuk, Lincoln.
Lincoln College closed in 2022 after 157 years of operation. Its website, however, still is live.
