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Kenosha board accepts $2 million purchase offer for 66‑acre district parcel with 40‑year deed restriction
Summary
The board voted to accept a direct, contingent $2 million cash offer from a private developer for about 66 acres in Pleasant Prairie; the sale includes an initial 180‑day due‑diligence period and a proposed 40‑year deed restriction banning charter or nonpublic school development on the property.
The Kenosha Unified School District board on March 24 accepted a direct purchase offer for a 66‑acre parcel known internally as the "Stall" property, located off 39th Avenue and 109th Street in the village of Pleasant Prairie.
Administration described the buyer as ZL River Development and said the $2,000,000 cash offer includes a 180‑day due‑diligence period accompanied by $25,000 in earnest money; the buyer may extend due diligence for an additional 180 days with a further $100,000 nonrefundable earnest payment. Administration characterized the offer as contingent on village approvals and due‑diligence outcomes; if approvals are not obtained during the initial 180 days the $25,000 would be returned, and the extension option carries additional nonrefundable earnest money.
Administration also reported a deed restriction negotiated with the buyer that would prohibit future development of charter or other nonpublic schools on any portion of the property for 40 years. "The buyer's purchase offer is a $2,000,000 offer for the property," administration said during the presentation.
Board members asked how any proceeds would be applied; administration suggested the district could consider applying funds against planned borrowing for capital projects, including the secure‑entrance work being scheduled. A motion to accept the offer under the attached terms was made, seconded and approved by voice vote with the chair voting aye. Because the contract is contingent on village approvals and due diligence, the district will not receive funds until closing and required approvals have been secured.
Administration noted the property is currently leased for $6,000 per year to a local farmer and that sale proceeds would be discussed in future budget and capital planning sessions.
