Kendall College Sells Programs and Name to National Louis University for $1

For-profit Kendall College (IL), best known for its culinary arts school, is vacating its Chicago campus and selling its programs to National Louis University (IL).  The price tag for the financially struggling 84-year-old college is $1, according to a filing Wednesday with the Securities and Exchange Commission. The unusual agreement, announced earlier this week, would fold Kendall’s five degree programs into the broader academic offerings at National Louis, a private nonprofit university, pending approval by federal regulators.