Objective & Property Summary
Objective: It is the sole objective of the Board of Directors (“Board”) of Interlaken Golf Club, Incorporated (“IGC”) to source a buyer who will be looking to continue to grow and maintain the 100 plus year tradition of IGC as quality golf course long into the future. The Board is presently offering the club for sale with a Minimum Bid of $550,000, which is the estimated amount to cover all outstanding obligations of the IGC including all bank indebtedness, personal loans to IGC, Class B stockholders, accounts payable and other accrued liabilities, interim operational expenses, and stock of Regular Members. SealedBid is looking to receive Letters of Intent (“LOI”) from qualified prospective buyers up through December 12, 2023. Any submitted LOI will be reviewed by Seller as received with the understanding that IGC can negotiate with any selected prospective buyer. It is the understanding per the Board that a satisfactorily negotiated LOI will then be subject to approval by a majority vote of the IGC Regular Membership, time being of essence.
Property Overview: Interlaken Golf Club, situated in beautiful Fairmont, MN, offers a challenging 18-hole regulation course. The course has a par of 72 stretching across 6,437 yards from the longest tees. Originally established with 9 holes in 1922, IGC underwent an expansion in 1969 to reach its current 18-hole layout. Operating as a semi-private equity facility golf course, IGC provides a range of amenities such as a driving range, practice putting green, par 3 practice area, pro shop, and a club house complete with bar/lounge and dining facilities.