What is the pronoun in the sentence Tracey and Courtney live near the school?

The is NO pronoun in that sentence.

A pronoun is a Word that takes the place of a noun in a sentence.

Examples of the same sentence using pronouns:

They live near the school. (the pronoun 'they' takes the place of the compound subject nouns 'Tracey and Courtney')

Tracey and Courtney live near it. (the pronoun 'it' takes the place of the noun 'school')