(WBBM NEWSRADIO) — The head of Chicago’s 150-year-old Episcopal Cathedral says the Episcopal Diocese may be putting its own flagship church in a dire position.
The organization wants to sell its River North property, everything but St. James Cathedral.
Dean Dominic Barrington said he fears the cathedral, which would have to fend for itself, won't have enough resources because its share of the property-sale proceeds wouldn’t be enough.
“At its very worst, I think it could place St. James in a position where it is simply no longer financially viable,” Barrington said.
Episcopal Diocese Trustee Michael Mattson disagrees.
“I really don’t think that the cathedral is going to go away. I think that’s a bit dramatic, frankly.”
Mattson says the property could sell for anywhere from $20 million to $60 million.
Barrington expects it would be on the low end, however. The cathedral’s portion, consequently, wouldn’t be sufficient to deal with its new financial responsibilities, such as deferred maintenance.
Mattson thinks the cathedral would be “in pretty good shape.”
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