Developer Offers $5M For Portion Of Libertyville Sports Complex

LIBERTYVILLE, IL – The Libertyville Village Board on Tuesday will consider a sales agreement that would put into play the sale of a significant portion of the Libertyville Sports Complex, the Daily Herald reports. The sports complex opened in 2002 and has failed to bring in enough revenue to pay off the $24.5 million borrowed for the land and construction of the complex. Oak Brook-based Paragon Real Estate LLC says it wants to buy 21 acres of the property, including a golf driving range/learning center and the 27-hold Aloha Falls mini-golf course, for $5.76 million, according to the report.

The company plans to develop 17.55 acres of the land for industrial use and 3.66 acres for retail, the Daily Herald reports. The sale would help put a dent in the $16 million debt still owed by the village on the sports complex, village economic development coordinator Heather Rowe said.

If the village board approves the agreement, Rowe told the Daily Herald it would be up to another 18 months before plans are refined and finalized. So, the driving range and Aloha Falls would remain open this summer and likely again next spring. The main sports complex building is not part of the sale and would remain in operation, according to the article.

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Photo caption: Libertyville Sports Complex’s driving range/Photo credit: village of Libertyville website