Fortec, a Miami-based real estate development company, has acquired a 1.49-acre, 12,413-square-foot property at 310 E. James St. in Barrington, Illinois, a suburb of Chicago, for $695,000.
The site was formerly Barrington School District headquarters from the early 1970s until 2019.
Fortec has signed a 17-year lease with The Nest Schools, an early childhood education operator with over 50 locations nationwide. It will be investing an additional $2.8 million for a complete remodel of the site’s existing building and the creation of an adjacent playground. The Nest School-Barrington will serve approximately 200 children, ages 6 weeks to 12 years, and will create 40 new jobs in the community.
Fortec was represented by Northmarq-Milo Spector; the seller (the Board of Education of Barrington Community Unit School District Number 220) was represented by Jennifer Hopkins and Olivia Czyzynski of SVN Chicago Commercial.
The Nest Schools currently operates 50 locations for infants through school-age children in nine states nationwide. The company delivers an educational experience supported by a proprietary, developmental-focused curriculum and play-based educational programming. The Nest Schools’ mission is to create a culture of kindness, build the foundations for wellness for life, make learning fun, foster a love of learning, and set children up for a lifetime of happiness and success.
Keeping up with the increasing demand for quality education across the country, Fortec has developed 16 schools nationwide in the last three years. This latest project will be Fortec’s second school in Illinois and its first with The Nest Schools.
