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CBRE, the commercial real estate firm marketing the property, notified the board that offers were submitted to purchase the 127-acre campus. The deadline for offers was March 13.聽

The board did not reveal how many offers it received or who is seeking to buy the campus. However, two of the offers have been announced by the interested parties.聽

The Cleveland Commission for Wells, an alumni group that formed after the college's closure announcement in April 2024, wants to buy the campus and continue its use as a higher education institution.

A joint venture involving Grande Venues, the Hiawatha Institute for Indigenous Knowledge and Summit World Schools would establish an Indigenous college, international boarding school and senior housing community on campus.

Wells College's board of trustees repeated its message from February that "while the college's first responsibility is to meet its financial obligations, many factors will influence a decision to accept a bid for the campus."聽

"College leadership and CBRE believe it is important that any prospective buyer understands the longstanding relationship between Wells and the village community, including the community's historical access to campus," wrote the board, which is beginning to evaluate the offers.聽

Wells College announced in October that it selected CBRE to be its broker for the sale of the campus. The property was listed for sale in November.聽

A public meeting was held in January to provide more information about the sale process. CBRE representatives said developers had "serious interest" in buying the campus.

CBRE listed the opportunities for the campus, as well as challenges with the sale. A right of first refusal on the property and Aurora's zoning were among the challenges.

The college is selling the campus as part of its wind-down process. It also hired Christie's, a well-known auction house, to sell many of its artifacts and other assets.

In its March update, the board of trustees explained the proceeds from the sale of the campus will be used to "satisfy college financial obligations." If there are excess funds, the board said the state will direct them to a nonprofit "consistent with the college's educational mission."

The sale of the campus is subject to approval by regulators, including the state attorney general's office.