Can not find compilation library location for package

Hi

I am converting existing MVC 4 project to Asp.net MVC Core 1.1 (.net std) project. After executing project it's giving me error as

'Can not find compilation library location for package'

I tried updating following keys also in project file as mentioned in some forums with all possible combinations

<MvcRazorCompileOnPublish>false</MvcRazorCompileOnPublish>
<PreserveCompilationContext>false</PreserveCompilationContext>

Also added  following package reference

<PackageReference Include="Microsoft.AspNetCore.Mvc.Razor.ViewCompilation" Version="1.1.0" />

But still it's not working. Actually on my machine it works but i copied this to one of my colleagues machine then on his machine he is getting this exception.

I have referred some assemblies from my local folder like ActionMailer, Elmah,ClosedXML,Telerik.Web.UI etc. for these it's throwing the exception.

I tried to add these assemblies through Nuget then it's working.

So can you please tell is it not possible to add other local assemblies without installing the package in .net core? 

And what is the solution for this?

Thanks,

Ashvini Awaskar