SHAWNEE – An Oklahoma City-based craft supply company will likely purchase a now-closed college campus.

SHAWNEE – An Oklahoma City-based craft supply company will likely purchase a now-closed college campus.

Hobby Lobby Stores Inc. has entered into a real estate purchase agreement to buy the St. Gregory’s University campus for $8 million, according to a motion filed Tuesday in U.S. Bankruptcy Court for the Western District of Oklahoma. The sale is expected to close on or after Dec. 3.

St. Gregory’s, 1900 W. MacArthur St., closed at the end of the fall 2017 semester, citing the reason as not getting a loan from the U.S. Department of Agriculture. On Dec. 22, the school, legally named Catholic University of Oklahoma, filed for Chapter 7 bankruptcy.

The St. Gregory’s campus went up for sale on April 17. Dakil Auctioneers Inc. is handling the sale of the property. Dakil already oversaw a mineral-interest auction on Aug. 9.

Dakil Auctioneers also regularly conducts real estate sales. Co-owner Louis Dakil said he personally worked on the sales contract for St. Gregory’s. Dakil said he talked to potential buyers from New York, California, Florida, and other states about the property.

Hobby Lobby representatives could not be reached for comment.

The university property totals 71 acres and includes six buildings. The most known building measures 73,845 square feet and stands six stories tall. It was built in 1915 and is listed on the National Register of Historic Places.

The other five buildings are a 22,208-square-foot student union, constructed in the early 2000s; an 8,910-square-foot multi-function athletic building with two basketball courts, an indoor running track, and a pool; a 9,540-square-foot performing arts theater built in the early 2000s; a 30,713-square-foot, three-story dormitory; and an 80,378-square-foot, three-story dormitory. There’s also a baseball and softball field included in the real estate, according to the filing on the Dakil website.

The proceeds from the university campus sale will be paid to the Catholic Order of Foresters, an insurance company; Citizen Potawatomi Nation Community Development Corp.; and the Citizen Potawatomi Nation, with claims totaling $4.7 million.

The motion to sell the university and other nearby property will be heard on Nov. 28 at 9:30 a.m. at the federal courthouse in Oklahoma City.

Through the bankruptcy proceedings, hundreds of people and entities have filed claims against the university, asking for the money they are owed. Thirty-one former faculty members are owed about $225,000 in wages, according to an earlier filing.

The amounts owed to former faculty members range from $5,825 to $13,834. The higher amounts went to staff members who worked in the nursing school or were administrators. Some of the nursing staff members who haven’t been paid were hired in 2015.

St. Gregory’s had been in financial trouble for several years, according to court filings. The Citizen Potawatomi Nation tried to help out by loaning $5 million to the university in exchange for tribal-member scholarships. In 2017, the Citizen Potawatomi Community Development Corp. loaned $4.3 million to the university, with the expectation that a $20 million credit facility would come from the USDA.

NOTE: The News-Star has sent a formal request to Hobby Lobby's management seeking information on what plans they have for the property. Watch for updates.