LOS ANGELES : Bullocks Wilshire Building to Be Bought by Law School
Southwestern University Law School has received permission from a bankruptcy judge to acquire the shuttered landmark Bullocks Wilshire building, school officials said Friday.
The school wants to move its library and some offices into the Art Deco department store building when a five-year renovation is completed.
“This important move will guarantee the preservation of an essential piece of this city’s cultural heritage, and will provide the environment our law school needs to continue to serve our community,” said Frank L. Ellsworth, vice chairman of Southwestern’s board of trustees.
Southwestern will buy the building for $4.8 million from R.H. Macy & Co., which closed the store in April, 1993, after filing for bankruptcy protection. The school outbid a retail group in an auction that the New York Bankruptcy Court conducted last month, said Southwestern communications director Leslie Steinberg. A Southwestern spokeswoman said the law school is negotiating with Caltech, which owns the land under the building, to acquire the entire property. The 82-year-old law school is across the street on Westmoreland Avenue.
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