Are days numbered for Libertyville's adventure golf course?
The adventure golf experience in Libertyville could be gone for good as village officials have another offer to buy the prime location at Peterson Road and Route 45.
Trustees this week approved an agreement with JSJ Libertyville Venture LLC to sell nearly 6 acres occupied by the Family Entertainment Center, one of three enterprises that comprise the Libertyville Sports Complex.
It features an 18-hole mini-golf course amid prairie grasses, a waterfall and faux rock formations as the main attraction, and a nine-hole course for kids.
The seasonal venture has not drawn well, and village leaders think it would be better used as a retail area.
The proposed sale price is more than $4 million, close to the village's cost for the entire 48-acre Sports Complex site on the far-northwest side of town.
"Pretty good investment," Village Administrator Kevin Bowens said.
The Sports Complex opened in mid-2002 but has not performed as well as expected. The village board put the parcel on the market in July 2006 and received an offer from another company.
But Loujake Realty did not attract any users, and the village board last fall voted against extending the contract. The agreement with JSJ is similar in that it gives the company six months -- with the possibility of extensions -- to determine whether there is enough interest to develop it.
"The market for that spot is going to be very active because there's a lack of retail in the area … and the traffic count is already there," JSJ partner Savas Er said. He said the company has other properties in several suburbs, including lots in shopping areas along Rollins Road in Round Lake Beach.
Prospective tenants could include a pharmacy, chain restaurant and smaller businesses.
Proceeds from any sale must be used for Sports Complex matters. At least part would be used to lower annual debt payments. Those payments, estimated at $1.8 million this fiscal year, have caused the Sports Complex to struggle to break even financially.
The village issued $4.5 million in bonds to purchase the land and $20 million to build the facilities.
In pursuing the agreement with JSJ, village leaders also let it be known the golf learning center, which includes heated tees and several greens to hit to, could be next on the market.
"The golf learning center component was projected to be a significant revenue producer," Bowens said. "Although it continues to do better, it's not doing as well as we projected it would be."
The board has no immediate plans for that portion of the Sports Complex but will monitor its performance, Bowens said.
At 160,000 square feet with soccer fields, basketball/volleyball courts, climbing wall and fitness center, the indoor sports complex is the largest and most successful of the ventures.
"That one we're very pleased with," he said.
No fun
The Libertyville Sports Complex is an enterprise fund that pays for itself, although not all aspects have met village expectations since it opened in 2002. Here's how the pieces -- including Family Entertainment Center and miniature golf -- have fared in terms of revenue.
2003-04 2004-05 2005-06 2006-07 2007-08 (budget)
FEC $219,000 $207,000 $170,000 $135,000 $95,000 *
Golf learning $582,000 $589,000 $577,000 $551,800 $692,300
Indoor sports $2.8 million $2.8 million $2.5 million $2.4 million $2.4 million
Notes: *Partial year. Principal and interest payments for bonds used to buy the land and build the facility for current fiscal year total $1.8 million. Projected deficit for overall complex this year is $822,000.
Source: village of Libertyville