The Port Huron Township, Mich., property, which includes a 134-acre golf course, clubhouse, pro shop and banquet center, will be auctioned off October 17, with a suggested starting bid price of $1.65 million. In order to bid on the property, buyers are required to visit the property on one of three on-site inspection dates, purchase a detailed buyers information packet, and bring a $50,000 to $75,000 cashier’s or certified check to the auction.
The owners of Black River Golf and Country Club in Port Huron Township, Mich., have decided to put the facility on the auction block, the Port Huron (Mich.) Times Herald reported.
Hilco Real Estate will auction the 134-acre golf course, clubhouse, pro shop and banquet center on October 17. The suggested starting bid price is $1.65 million, the Times Herald reported.
“This is a really great asset,” said Alan Kravets, senior consultant and auction specialist of Hilco Real Estate. “There is a lot of tradition, and it has been there for a long time, and it’s a beautiful golf course. This is a great opportunity for someone new to come in and run it.”
In order to bid on the property, Kravets said buyers will be required to visit the property on one of three on-site inspection dates—September 19, October 3 and October 10—and purchase a detailed buyers information packet for $50 or $75. They also will be required to bring a $50,000 to $75,000 cashier’s or certified check to the auction, the Times Herald reported.
Registration begins at 11 a.m., and the bidding will begin at noon, the Times Herald reported.
“We want fully informed bidders,” Kravets said. “We want everybody to know exactly the condition of the course. Nothing is hidden.”
The Black River Golf and Country Club was built in 1926 by Fred Riggins of Mueller Brass and redesigned in the 1950s by William Diddle. Business partners Jim Albright and Linda Kopietz bought the club and golf course in 2004. County records indicate the sale was for $3.64 million at the time, the Times Herald reported.
Neither Albright nor Kopietz could be reached for comment, but a release from Hilco indicated that they simply desire to focus on other investments, the Times Herald reported.
“They’re using the auction as a way to assure that the property is marketed to a large universe of buyers and sold in an accelerated time-frame,” said Bill Salatino, an adviser to Albright and Kopietz, in the Hilco press release. “The auction not only provides ownership with a quick sale, but it also assures them that the property will close.”
The golf course is not a distressed property, Kravets said, despite the difference between the starting price and what it sold for in 2004, the Times Herald reported.
“That was 2004 and today is today,” Kravets said. “We do not expect the golf course to sell for (the $3.64 million it previously sold for). Golf courses have declined in value. This is a sale where the sellers have elected to let the market tell them what the price is. Name your own price, Mr. Buyer.”
It is unclear what the upcoming sale means for events scheduled at the country club’s restaurant and banquet hall. Staff on-site referred questions to the facility’s general manager, who did not return requests for comment by the Times Herald.
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