CHICAGO (WBBM NEWSRADIO) – People looking to expand their real estate portfolio are encouraged to take a swing at an 18-hole golf course.
The Midlane Country Club in northeastern Lake County is ranked among Chicago’s top 20 golf courses, and now it’s up for sale.
Instead of a traditional listing, the 315-acre Wadsworth property is being auctioned off at a bargain.
Previously valued at over $15 million, the suggested opening bid is $2.5 million.
According to Chicago auctioneer Rick Levin & Associates, the country club is currently leased to a management company and generates positive cash-flow to the property owner.
Sealed bids are due by March 30.