NORTHBROOK, Ill., Sept. 3, 2013 (GLOBE NEWSWIRE) -- Hilco Real Estate , LLC (www.HilcoReal.com ) announced an upcoming auction on October 17 for the Black River Golf & Country Club an operating 18-hole golf course with a full service restaurant, banquet & conference facilities, located just 2 miles from Canada across the Blue Water Bridge.
Voted "Best of Port Huron Golf Courses," the well maintained property was built by Fred Riggin's of the Mueller Brass Family in 1926, redesigned by William Diddle in the 1950's. Property features include, magnificent tree-lined fairways on the Black River, 6,500 yards, 129/71.4 slope rating, 18,500 SF gross area Club House with conference center and Pro shop, range, practice area, tennis courts, house for management, and an abundant supply of water for course irrigation pumped from the Black River. The suggested opening bid of $1,650,000, should be quite alluring to interested buyers.
John Khami, Parkwood Properties of Troy, MI, referring broker stated, "Port Huron has seen increased real estate development from both Canadian and American Investors in recent years and the Black River Golf & Country Club sits right in the heart of this growing area. Further, the resurgence of Canadian golfers and completion of construction on the Blue Water Bridge makes this a great investment with unlimited potential."
The auction event will be held on October 17 at the Marriott Detroit Troy, 200 West Big Beaver Road, Troy, MI 48084. Registration will start at 11am the auction will commence at 12pm (noon).
Interested buyers can inspect the property by attending one of our on-site inspections scheduled on Thursday September 19th, & Thursday October 3rd & 10th.
Bill Salatino, Golf Course and Industrial Management Consultant and advisor to Ownership of the Black River Golf & Country Club commented, "Ownership, after operating the course from a distance for nine years, has decided to focus their attention on other investments, 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 timeframe. The auction not only provides ownership with a quick sale but it also assures them that the property will close." Salatino followed this with, "After purchasing the club in 2004 the owners made significant improvements to the course and property which the new owner will get the benefit of taking advantage of."
Alan Kravets, Senior Consultant and Auction Specialist of Hilco Real Estate added, "Auctions like this are rare opportunities for owners and investors to name their price on an amazing golf course with great upside potential."
Mr. Kravets further noted that, "the timing of the sale allows the new buyer the ability to promote their new course at the golf shows and take advantage of the restaurant, conference center and ceremony site to grow its robust banquet and special event business."
A detailed Bidder's Information Packet is available for the property, containing property specific information, an explanation of the auction process and the Terms of Sale. The purchase of the packet is required to bid and will be available at all viewing opportunities for $50 ($75 for a print version) or by contacting the Project Manager at (847) 418-2700.
Auctions continue to grow as one of the leading asset disposition strategies for private owners, businesses, and financial institutions across America due to their swift timeframe, transparency, and surety of closing and Hilco is a leader in this industry.
For more information about bid qualifications and further details about this property or other properties available at auction, please contact Alan Kravets at (847) 504-3268, email akravets@hilcoglobal.com or visit www.HilcoReal.com.
About Hilco Real Estate, LLC: Hilco Real Estate, LLC ("HRE") is a Hilco Global company, is headquartered in Northbrook, Illinois (USA). HRE is a national provider of accelerated real estate disposition services. Acting as an agent or principal, HRE uses its experience to advise and execute strategies to assist both healthy and distressed clients to derive maximum value from their real estate assets. By leveraging multi-faceted sales strategies & techniques, aggressive repositioning and restructuring experience, a vast and motivated network of buyers and sellers, and substantial access to capital, HRE exceeds expectations even in the most complex deals.
