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Benefactor purchases Lincoln
College campus, launches $1 lease program to bring new jobs and
investment to Lincoln
[September 16, 2026]
LINCOLN, Ill. — A benefactor
with a deep love for Lincoln has purchased the former Lincoln
College campus, operating under the LLC EZ 37:4-5, and is offering
the property to nonprofit and for-profit organizations looking to
expand in Lincoln through a once in a lifetime opportunity lease
program designed to spur new jobs and investment in the community.
Under the program, nonprofit organizations seeking to expand and
grow in Lincoln can lease space on the campus for $1, with the goal
of creating new-to-Lincoln jobs and investing in the local economy.
For nonprofits that meet agreed-upon job growth metrics, the
benefactor intends to donate the properties to them outright.
For-profit businesses are also invited to participate, with similar
access to $1 leases and the option to purchase the property over
time at rates expected to be between $40-$50 per square foot. The
specific terms for acquisition of the properties center around job
growth and economic opportunity will be outlined in each lease
agreement, giving both nonprofit and for-profit organizations a
clear path to putting down roots in Lincoln.
Lincoln Economic Advancement & Development (LEAD) is supporting the
initiative and has issued a Request for Interest (RFI) covering five
of the buildings on the campus, with future RFIs to come at a later
date. Organizations interested in learning more about the
opportunity — including what Lincoln has to offer, the RFI
application, building blueprints, and additional program details —
can visit LEAD's website at leadlincoln.com.
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"This is an
incredible opportunity for organizations to grow in a community
that has so much to offer," said Uriah Kilgallin, CEO of LEAD.
"A gift like this doesn't come along often, and the benefactor
who founded EZ 37:4-5 is opening the door for nonprofits and
businesses alike to build something lasting here — new jobs, new
investment, and, much like the referenced passage, breathing
life into the economy of Lincoln. We're excited to help connect
the right organizations with this opportunity, and just as
excited to introduce them to everything that makes Lincoln such
a special place to grow."
Interested organizations are encouraged to review the RFI and
supporting materials at leadlincoln.com to learn more about
eligibility, the application process, and the buildings
available on the Lincoln College campus. A walkthrough of the
buildings that are part of the RFI will take place on September
29 at 1:00 PM on the campus at 300 Keokuk, Lincoln, IL 62656,
meeting in front of University Hall.
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