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Last updated on Wednesday, March 14, 2018
(BLOOMINGTON) - A trustee appointed by the bankruptcy court to oversee the fate of Eagle Pointe Golf Resort has hired an auctioneer to sell the approximately 130-acre property.
Mary Shone of The Herald Times reports the request to sell the property is awaiting a federal judge's approval, but went without objection from officials representing the former golf resort's owner, Pointe Properties LLC.
The real estate to be sold includes a clubhouse, a cabana bar and a 101-square-foot hot dog shack. The property includes the golf resort, pro shop and bar and dining facilities. It has been appraised at $1.65 million, and does not include any of the residential areas at Eagle Pointe.
Deborah Caruso, the court-appointed trustee overseeing the Chapter 7 bankruptcy case, filed a motion Feb. 15 in U.S. Bankruptcy Court seeking to hire Norman J. Gallivan Inc. to conduct the liquidation auction. Her motion was granted last week.
One of the expected bidders is Pointe Service Association, a homeowners association that represents 19 neighborhoods with approximately 900 total residents who live near the golf resort on Lake Monroe. The Association intends to make a qualified bid to purchase the property and plans to participate in the auction on April 16, 2018.
The association will hold an open forum for Pointe-area residents to talk about the possible purchase March 24 and 25 from 10 a.m. to noon in the gymnasium at the Smithville Community Center on Strain Ridge Road.
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