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mission continues

Mission Continues

Following is the current strategic real estate plan as part of our school’s improvement plan.
(1) 544 Maxwell Road, Roswell, GA 30075
ILM Academy purchased this house for $400K in July 2023.
The building is fully paid off.
Strategic acquisition for future use since it adds to the existing land and is necessary for future ILM Main Campus building.

(2) 630 Colonial Park Drive, Roswell, GA 30075
Currently being used by ILM High School and ILM Business Office.
ILM has signed a bidding purchase contract with a contingency in Dec 2023.
The rezoning application is in process with the city and the final purchase of the building is subject to rezoning approvals from the city.
Contract price $1,000,000 (four installments interest-free, $250K due at closing)
Recently appraised at $1,290,000
Renovation to make the office building usable as a school will proceed after the purchase is completed. Work in progress to estimate the cost of construction.