McCormick Real Estate News
04-21-2015
McCormick Theological Seminary enters an agreement to sell its residential housing building at 1400 E. 57th Street.
President Yamada's Letter to the community.
In line with its long-term vision, McCormick has entered into an agreement to sell its residential building at 1400 E. 57th Street. Current residential students will experience little to no change in their day-to-day lives. The building will be leased back by McCormick for two years, and McCormick will continue as the primary caretaker of the interior spaces of student apartments and the IT infrastructure until approximately June 2017.
President Yamada with other members of his Administrative Cabinet met Friday, April 17th with the residents of the 1400 building to share the news before making an announcement. A letter from President Yamada was then shared via email with McCormick students, faculty, staff, and alumni on Friday after the meeting. On Monday, April 20 President Yamada hosted a Town Hall meeting with students, faculty and staff to receive feedback and answer questions.
McCormick recognizes that residential and guest housing are still important needs. As such, the 1400 building will be available to incoming students and guests for the full two year lease-back period. McCormick will cover relocation costs for any continuing residential students still living in the 1400 building at the end of the lease-back agreement. In addition, we will assist all incoming residential students in finding housing whether they choose to start in the 1400 building or seek alternative housing.
In the near-term, President Yamada will appoint a committee comprised of students, faculty, alumni and staff to quickly develop, define and secure the best housing options for incoming and future residential students and which will collaborate with the Student Affairs Committee/Task Force on plans to facilitate community during and after the transition.
For more information, you may click here for a list of common questions and their answers. If you have any additional questions or concerns, please contact Lisa Dagher at 773.947.6320 or ldagher@mccormick.edu.
