The Colorado P.E.O. Sisterhood has contracted to sell the former P.E.O. Chapter House property to private, California-based buyers for the asking price of $2.2 million, despite the city of Colorado Springs’ interest in purchasing the property for parkland. Oct. 1 is the planned closing date.
The P.E.O. is a philanthropic educational organization for women built upon service and philanthropy as an outgrowth of its social bonds of love and friendship.
Since 1966, the P.E.O. Chapter House, on eight acres at 1819 W. Cheyenne Road, has served primarily as a retirement community for P.E.O. members. The Colorado P.E.O. membership voted in June to close and sell the Chapter House, which had been losing money for the last few years.
The residents were relocated this summer, and the property was listed for $2.2 million July 29, the same day community members gathered at the Ivywild School to discuss the sale of the