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The General Council of the Assemblies of God is holding a second round of bidding for the Central Bible College campus.
The General Council of the Assemblies of God is holding a second round of bidding for the Central Bible College campus.

AG rejects offer for Central Bible College; bidding continues

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The General Council of the Assemblies of God rejected an offer for the Central Bible College campus, sending the bidding process into a second round parcel sale.

During the first round that ended March 31, Assembles of God turned down a bid for the entire 3000 N. Grant Ave. campus but agreed to sell the broadcast tower parcel, said Michael Fine, principal of Deerfield, Illinois-based real estate auction and advisory service Fine & Co. LLC.

Fine said the sale of the less than 1-acre tower parcel should close within 30-45 days. Declining to disclose the buyer, he said American Tower Corp. currently leases it. Calls to American Tower’s Springfield operations went unanswered this morning.

Fine said the buyer of the broadcast tower is separate than the entity that proposed to purchase the campus. He declined to disclose the party that made the offer for the campus or how many bids were received.

He said the configuration of parcels for sale in the second round will be announced soon for an expected June auction.  

“Right now, we’re going through the process of determining how we can offer the parcels so they can be properly subdivided,” he said. “Once we have the answer to that, then we will announce the parcels and the auction will be set four to six weeks later.”

The roughly 70-acre campus near Ozark Empire Fairgrounds has a 2017 taxable appraised value of $9.7 million, which is up from $9.5 million in 2016, according to Greene County assessor records.

The first auction round was conducted through a sealed-bid process, in which interested buyers submitted bids to the Fine & Co. office. Fine said the auction’s second round also would be conducted sealed bids.

The CBC campus comprises 24 buildings, undeveloped land, two ponds and a baseball field. The campus has been empty since mid-2013, when CBC merged into Evangel University along with Assemblies of God Theological Seminary.

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