The agreement with the Province for the fields was finalized several weeks ago, and we have one year to finalize the payment terms in consultation with the Province. As of the signing of the purchase sale agreement with Dominican University earlier today, a 120- day due diligence period begins, after which Fenwick is obligated to pay Dominican University the full purchase price.
We don’t yet know exactly what all the uses of the land and Priory will be, but much like our predecessors in the Fenwick community who didn’t know what the future would hold for Fenwick High School, we know this is something significant. We know that this sets Fenwick on a path for even greater future success. We know this was simply too good an opportunity to forego.
This purchase is a defining moment in our history. Purchasing the entire Priory property propels Fenwick into a future unencumbered by land and facilities constraints. As future generations of Friars reflect on our history, 2021 will stand alongside 1929 as the founding of Fenwick High School for our second century.
This may also be a defining moment for the Dominican ministry on the west side of Chicago, as we look forward to working with our Dominican partners – Dominican University, Trinity High School, St. Vincent Ferrer, and possibly others - and the greater Oak Park-River Forest community to maintain the Priory as an asset for the neighborhood for many, many years to come.
None of this vision will become reality without significant philanthropic support from the Fenwick community over the coming months and years. Let’s capitalize on our recent successes and continue the swelling momentum for a Fenwick future that is bold, bright and brimming with possibility. Let us lead by example to live up to the mission of Fenwick High School to educate students to lead, achieve and serve.
Many more details will be forthcoming and more communications will follow in the coming weeks and months. In the meantime, a joint press release between Fenwick and Dominican University will be sent in the next hour or two announcing our purchase of Dominican University’s property. We wanted you to hear it directly from us first.
Thank you for your continued prayers, encouragement and support. We are the Friars and the Friars are great!