Pheasant Run Resort Goes Up For Auction In Jan.

ST. CHARLES, IL — Pheasant Run Resort will go up for auction in January. The starting bid for the once-thriving St. Charles resort will be $2 million during the online auction, which will run from Jan. 24 to Jan. 26, according to the ten-x.com listing.

The 293-room resort is located on 18.3-acre property at 4051 E. Main Street in St. Charles. The property would allow for the new owner "to maximize profits through new operational strategies while planning for redevelopment," according to the listing. DoubleTree, Crowne Plaza and Wyndham are among the hotel brands that have shown interest in the property.

Also starting in January, Pheasant Run Resort plans to lay off 149 employees as part of its restructuring, according to a recent WARN report filed with the state.

The resort generates between $500,000 and $600,000 in tax revenue for the city each year, and city officials have been concerned over a loss of revenue if the resort closes, according to the newspaper.

In November, Christine Andrews, of Hostmark Hospitality, which manages Pheasant Run, let St. Charles Mayor Ray Rogina know of the resort's plan to lay off 75 percent of its staff, the Kane County Chronicle reports. Media outlets also reported in November that the resort was listed for sale on the Colliers' International website but as of Thursday the listing was not live on the site.

In 2011, a foreclosure lawsuit was filed against the resort. At the time, attorneys for U.S. Bank and CW Captial Asset Management—which issued a $29 million loan to the longtime St. Charles resort in 2006—claimed Pheasant Run didn't make payments for several months and now owes $28.5 million in principal, interest and penalties.

Then in 2016, the airport authority filed a condemnation lawsuit to take over the entire resort, according to the Daily Herald. The lawsuit came shortly after the resort announced it would turn its golf course into housing. The DuPage Airport, at the time, had concerns over that plan since the airport abuts the golf course.

The airport authority later agreed to take over only part of the golf course behind the resort and adjacent to the airport, according to the Kane County Chronicle.

MORE ON PATCH

• What's Next for the Pheasant Run Resort in St. Charles?
• Bank Seeks Receiver in $28.5M Pheasant Run Foreclosure
• Pheasant Run Laying Off 149 Employees: Report