Bedford Schools administration property appraised for $500,000

6/24/2013
BLADE STAFF

Bedford Schools district administration building and land at 1623 W. Sterns Rd. have a market value of about $500,000, a commercial real estate broker reported to interim Superintendent Jon White.

Mr. White, who steps down July 1, requested the estimate from the Reichle/‚ÄčKlein Group, which said the property is best suited for retail-office mixed use.

Mr. White obtained the appraisal in case Mark Kleinhans, the incoming superintendent, urges the board of education to put the property on the market and move administrative offices into a former school building.

Proceeds from a sale could help close the district’s operating deficit and eliminate the need for some cuts planned in services and programs.