Bidding war for Lake Lawn?
As the closing for the sale of Delavan's Lake Lawn Resort drags on, a new bidder has emerged with an interest in purchasing and re-opening the resort that closed late last year after foreclosure.
In today's Gazette, (we'll have the story on line after 4 p.m.) Ann Marie Ames reports that Lake Geneva developer Todd Wilkins is expected to make a bid later this week.
After a group led by Jim Drescher set the benchmark with a cash offer of $8.6 million, (a nice discount for a property like this,) it's no surprise that other deep-pocketed investors would take a look at owning the jewel of Delavan Lake.
Ames reports that Wilkins also had a bid on the table in January that he says was higher than the one accepted by Drescher's group.
Wilkins is the executive vice president for Orren Pickell Designers and Builders, according to the website LakeHouzz.com.
At Drescher's urging, the Delavan City Council this evening will vote on a formalized memorandum between Drescher and the city, including the gradual elimination of the $900,000 special assessment.
The meeting begins at 6:30 p.m. at the Delavan Municipal Building, 123 S Second St.
Wilkins has worked with Drescher on the Lake Lawn deal, Ames reports, but was not part of Drescher's investment group.
Wilkins is expected to meet with Anchor Bank officials Thursday.
Ames story is online in the e-edition HERE, and she'll have the latest in Wednesday's Gazette.