Following more than two years of discussions, the Mundelein High School District 120 board has agreed to put the Village Green Country Club up for sale.
The district's minimum price for the 94-acre property is $65,000 per acre, Superintendent Kevin Myers said. That could bring in at least $6 million.
The district paid $8.4 million for the golf course in 2004, but recently officials said recouping the original investment isn't a goal.
Purchase offers will be accepted through sealed bids that likely will be opened in June, officials said.
Officials expect a homebuilder will buy the land, which is on the southeast corner of Midlothian and Winchester roads.
District officials haven't yet decided if they'll sell part or all of the property, which includes some wetlands. They're considering keeping about 40 acres for athletic fields.
The district bought Village Green at a time when enrollment was expected to increase dramatically and more land could be needed for a second campus.
Those population projections didn't pan out, though, so the district didn't do anything with the site and golfers were allowed to continue playing the 18-hole course.
Village Green has been operated since 2007 by a company called GolfVisions Management, which also runs courses in Gurnee, Waukegan, Cary and other towns. GolfVisions pays the school district 5 percent of the course's gross revenue, with a minimum payment of $50,000 annually.
The district's agreement with GolfVisions expires in 2020, but it may be terminated with 60 days' notice.
Reconfiguring some of the property as a nine-hole golf course isn't an option, officials have said.