Crystal Cathedral up for Bankruptcy Sale

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The famed Crystal Cathedral in Garden Grove, Orange County filed for Chapter 11 bankruptcy protection in October last year under the weight of $50 million in debts. Now the bankruptcy court is overseeing the sale of the church’s elegant 10,000 panel glass building for which two opposing bids have been received. The first one is from the Roman Catholic Diocese of Orange that has made a bid for $53.6 million while the second bid was received from Chapman University that is affiliated with Disciples of Christ Protestant denomination. The university bid $50 million, the minimum bid that creditors would consider.

However, the university would allow Crystal Cathedral to buy back the premises and other buildings for $27.5 million, if it can raise the funds to do so. At the same time, the university is prepared to lease space in the cathedral back to the church for its activities.

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