National School Developer Fortec Sells Redeveloped Barrington, Illinois, Property for $4.94 Million (Miami, FL) (January 21, 2025) – Fortec, a Miami-based national leader in early childhood education development projects and investment dedicated to transforming urban neighborhoods and fostering community growth, has announced the sale of its 1.49-acre property in Barrington, Illinois, a suburb of Chicago, for $4.94 million to Autumn Ridge, LLC.
Fortec strategically acquired the property at 310 E. James St. in early 2024 for $695,000. Previously serving as the headquarters for the Barrington School District from the early 1970s until 2019, the property was redeveloped for The Nest Schools, a leading early childhood education operator with over 50 locations nationwide. At the time, Fortec signed a 17-year lease with The Nest Schools, transforming the 12,413-square-foot building into a thriving educational facility serving approximately 200 students from ages 6 weeks to 12 years old. As part of the project, Fortec invested $2.8 million to extensively renovate the existing structure and construct an adjacent playground. The lease will transition to Autumn Ridge, LLC.
“We are thrilled to announce the successful sale of this property,” said Pablo Marcelo Barreiro, chairman of Fortec. “This milestone caps off a remarkable 2024 for Fortec and propels our commitment to developing purpose-built educational facilities that drive community growth and transformation nationwide.”…