Mundelein District 120 to issue $75 million in voter-approved bonds for facility improvements
Property owners in Mundelein High School District 120 will see increases on tax bills in June for ongoing improvements to school facilities approved by voters in late 2024.
School officials Tuesday approved a not-to-exceed amount of $75 million in bonds to be issued in February as the first phase of funding approved by voters to pay for an array of projects.
The school board approval provides for the levy of an annual tax to pay the principal and interest on the bonds. The owner of a home valued at $300,000 will pay an estimated $414 per year.
Work began on wide-ranging improvements to school facilities in March 2025 and is expected to take at least three years to complete. The $199.5 million project is being funded largely with taxpayer approved funds.
To date, the district has been financing construction with $50 million in non-referendum funds and has not issued any of the $149.5 million in bonds approved by voters in November 2024.
The multiphased work is designed to upgrade aging infrastructure in the school that was built in 1961. Construction of eight new classrooms on the west side of the building at 1350 W. Hawley St., four new group rooms and a detention area on the south side have been ongoing.
Roofing on the new classroom wing is done and good progress was made on brick work. Wall framing is underway inside the building.
During spring and summer, the second phase of work will focus on a new competition gym, field house, student commons and food service area.
Also as part of that phase, tree removal is complete and grading is expected to begin soon on the district-owned former Village Green golf course, which will be converted to tennis courts and athletic fields.
Kevin Quinn, the district’s director of facilities and maintenance, says he expects a big construction summer but that the project to date is under budget and ahead of schedule.
The school calendar has been modified over the next two years creating longer summers for students to allow more work to be done.
According to the district, a second bond issue is planned for early 2027 but the associated tax rate is not expected to increase when that happens.
The district says it plans to repay the bonds over about 19 years and is expected to save about $8 million in interest the first year. It will result in about $81 million in total interest savings over time, the district said.