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Sherman Elementary School sold for $20,000

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For $20,000 Sherman Elementary School is no longer for sale.

After seven months on the market the Ogdensburg City School District Board of Education unanimously approved the sale of the building to Ogdensburg native John P. Wade at Monday’s meeting.

Originally the district sought $250,000 for the building but at Monday’s meeting a final sale price of $20,000 was settled upon. The district dropped a minimum bid requirement for the property in October.

Currently a regional buyer for Bed, Bath and Beyond based in Los Angeles, CA, Mr. Wade said he has big plans for the property that he hopes to unveil soon.

“We have a general outline of what we’re going to do,” he said.

Although he said the building will be “commercially used” Mr. Wade said he plans on having the building open for community use as much as possible.

Beyond that Mr. Wade said he didn’t want to reveal his plans, though he said he doesn’t intend on changing much about the building.

In part, the purchase sees Mr. Wade returning to his roots. Not only did Mr. Wade grow up around the corner from Sherman Elementary School, he attended as well.

Although he has been in California for the past two decades, Mr. Wade said he has always had an eye on Ogdensburg and is looking forward to being part of its future.

“We’re going to want to get the ball rolling relatively soon,” he said.

The school closed its doors in June as part of a district-wide reorganization that will see elementary students split between Kennedy and Madill elementary schools.

Lincoln Elementary School will be closing and put on the market in June of 2014. Board President Ronald N. Johnson said the sale represents “a small step in broadening our tax base.”

Commenting on the sale price Superintendent Timothy M. Vernsey said, “We have to practice due diligence to try to get the best possible price we can. We certainly tried to do that. I think the thing that people have to remember is that many times old school buildings sit empty for years.”

Mr. Vernsey said he is glad to see the building go to a graduate. “It’s all good stuff. We’re looking forward to having that building continue to be a staple in the community.”

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