INB selling Piper Glen Golf Course after foreclosure

By Patrick Yeagle

Piper Glen Golf Course is in the process of being sold to a new owner, following a foreclosure in 2015.

Current owner Illinois National Bank says a contract on the course is "moving ahead."

“We are working with the buyer’s broker to finalize plans,” says Joshua Ishmael, general counsel with INB, “and the purchaser – who has asked to remain anonymous until the sale is closed – is working with the current golf course management to assure a smooth and seamless transition.”

Ishmael says Mark Beck with United Country - Illinois Land Sales and Auction, is the broker working on behalf of the buyer. INB has been managing the course since the fall of 2015 after taking over the course from then-owners DMI Enterprises Ltd. in a foreclosure. DMI bought the course in 2006 from developer John Klemm, who opened it in 1996.

INB says its management team has worked to return the course "to the high standards of its original owners," adding that the new, undisclosed owner plans to follow through on holding any events booked at the course during INB's ownership.

“We’ve done a lot to improve the course,” Ishmael said. “We will be turning the course over to new owners knowing it's closer to its original, award-winning conditions.”

Klemm, who said he understands the buyer is someone local, is pleased with the bank's management of the course.

"INB has done a nice job of bringing the course back to the condition golfers expect," Klemm said.

According to the bank, the changes made since 2015 have brought more golfers to the course. INB says more season passes have been sold already for the 2017 golfing season than in 2015 or 2016, and the course is scheduled to host more golf outings this year than last.

“We’re optimistic that the sale will go through,” Ishmael said. “The buyer is anxious to lead the charge and continue the work of many of the professionals INB has been using to improve and oversee this outstanding property.”

Kristy Armstrong, president of the Piper Glen Subdivision Association, says she believes the new buyer, who is local, will improve the course and in turn the neighborhood.

"I am excited and looking forward to working with the new owners of the golf course closely to maintain a healthy relationship and support them, as this is great for the homeowners and the community," she said.

Contact Patrick Yeagle at [email protected].


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