Four years after Central Bible College merged into Evangel University, The General Council of the Assemblies of God seeks bids for the vacant, north-side Springfield campus.
Deerfield, Illinois-based real estate auction and advisory services firm Fine & Co. LLC is soliciting bids through March 31
for the 3000 N. Grant Ave. campus. Through the sealed-bid auction, potential buyers are required to submit their bids to the Fine & Co. office.
Evangel spokesman Paul Logsdon said the former CBC campus has been under the direction of Assemblies of God since the consolidation of Evangel, CBC and Assemblies of God Theological Seminary was completed in May 2013
. Evangel also is owned by Assemblies of God, Logsdon said.
Michael Fine, principal of Fine & Co., said Assemblies of God made a business decision to sell the CBC campus. Officials also were considering selling
the campus in 2013.
“Just like with any other business assets, when the asset isn’t producing for you anymore — in this case they have no use for it within the organization — it’s time to sell that asset,” Fine said.
Assemblies of God has the right to reject bids for the roughly 70-acre campus, but Fine noted there is no set price.
“They’re using the auction to allow the bidding process to demonstrate market value,” he said.
The campus has a 2016 taxable appraised value of $9.5 million, according to Greene County assessor records.
According to the auction page, the campus includes 26 buildings and on-site housing. The listing notes the property could be used for educational or religious institutions, medical rehabilitation projects, student housing or redevelopment.
If the entire CBC campus does not sell by March 31, Fine said a separate auction would attempt to sell off specific parcels of the property through early June.