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EDA tells Cook County commissioners sale of Superior National golf course is entering final negotiation phase
Summary
An EDA representative told commissioners the buyer-selection window for the Superior National golf course is closing: a 90-day right-of-first-refusal that began March 30 is expected to lapse June 30, triggering a 60-day negotiation period focused on irrigation and septic work; the EDA is holding $130,000 of a $200,000 county loan pending closing costs.
An Economic Development Authority representative, Lucas, briefed the Cook County Board of Commissioners on the planned sale of Superior National golf course and related county loan activity during the June 9 meeting.
Lucas said the sale process included a 90-day right-of-first-refusal period that began March 30 and is expected to lapse at the end of June; once that period ends the purchase agreement provides a 60-day window for final negotiations. "Part of the process for sale included a right of first refusal...starting on March 30, that's when the right of first refusal 90-day period, uh, began," Lucas said.
Lucas told commissioners that remaining negotiations with the buyer focus on provisions related to irrigation and septic work that must be completed before closing. Bar Engineering has been contracted to draw plans and the county's waterboard reviewed potential options on May 26; each option carries different cost implications, Lucas said, and the EDA is obtaining contractor estimates before presenting final figures to the buyer.
On financing, Lucas said the EDA received a $200,000 county loan: $70,000 was provided to Superior National Golf Course in May for operations, while $130,000 is being held potentially for closing-related septic and irrigation costs. He also reminded the board that a repayment window for Gunflint View begins in August and will extend for a full calendar year; no repayments had been received at the time of the update.
Commissioners asked clarifying questions and requested additional meetings and documentation; Commissioner Gamble requested a sit-down with Lucas to review outstanding items. Lucas said he would be available to meet to discuss details. The EDA update did not include any formal action by the board; staff said they will return with cost estimates and final negotiation items as they become available.
