My old chapter house is in a prime location. The fraternity next door is on probation and they leased their beautiful house to a sorority. Our chapter membership is way down, and there are even fewer living in the house, with Covid an issue as well since the virtual part of 2020 saw members move back home making it harder yet to pay the normal bills.
I attended a conference call with a number of brothers from my generation, before Covid, including a good number that I am still close friends with. The topic was options to save the chapter, including refinancing, contributions for either house improvements or against the current mortgage that was taken on for previous capital improvement,....
My comment to the group was that if you can't survive with a sorority living next door, you may as well shut the doors..........