For Sale: Your Own Country Club for $1.5 Million
It was legendary comedian Groucho Marx who famously said, "I don't want to belong to any club that will accept people like me as a member." But he didn't say anything about repudiating establishments which you own!
The Great Recession has brought a lot of pain to the real estate market, but one of the upsides is the opportunity to report on some amazing and unique deals that are available.
The folks at TopTenRealEstateDeals passed this one along: Beginning Tuesday, May 10, place your bid and walk away the proud owner of your very own Connecticut country club.
The real estate auction, sponsored by Integrated Property Group LLC of Connecticut, offers the occasion to buy property while taking over an established business at the same time.
The Oak Lane Country Club & Golf Course in Woodbridge, Connecticut is located near Yale University in New Haven, with all the old money connotations that proximity entails. The facility has been in operation for 50 years but recently fell on hard times in the face of dwindling membership.
The 180-acre property amenities include a 24,000 square foot clubhouse (pictured left), an 18-hole championship level golf course, three pools, tennis courts, and a groundskeeper's home. So if you're so inclined, you can move right in while overseeing the club's resurrection.
Integrated Property Group requires a minimum reserve price of $1,590,000. That may sound steep, but remember, you're getting 180 acres and several structures for your money.
The auction begins at 1PM Eastern on the 10th and registration opens at noon.
Are you interested in placing a bid?
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Ilyce R. Glink is the author of several books, including 100 Questions Every First-Time Home Buyer Should Ask and Buy, Close, Move In!. She blogs about money and real estate at ThinkGlink.com and The Equifax Personal Finance Blog, and is Chief Content Strategist at RealtyJoin.com, a community for real estate investors.