College in Illinois Sold for $400,000 at Auction

Robert Morris College--its dormitories, classrooms, library, gym and 20 acres--sold at auction Thursday for $400,000.

The College Education Foundation, a nonprofit group of area businesses, made the only bid. If the college’s trustees approve the sale, which is considered likely, the buyers want to find another school to take over the facilities. The two-year business school used to be based here but now has its main campus in Chicago.

In December, school officials stunned Carthage residents with their decision to close the campus because of a deficit of $460,000.

The school was one of largest employers in this city of 3,000. The college, which will close this summer, has about 370 students and 110 faculty and staff members.