Nitram242 [CC]
A local broker will be recruited by the owner of Kenosha’s former Dairyland Greyhound Park to market its sale.
Almost six years has passed since the 221-acre Wisconsin property has been host to a race, and although an $800 million casino proposal by the Menominee Indian Tribe and Hard Rock International was approved by the federal Bureau of Indian Affairs, it was rejected earlier this year by the state’s governor, Scott Walker.
An industrial development similar to Amazon.com and Uline Inc.’s major projects near Kenosha County’s Interstate 94 is the most likely eventuality for the property that sits vacant, according to RIME Management Group president and vice president of Dairyland Greyhound Park Inc., Michael Hallman.
Easing the way for the marketing and sale of the property, in lieu of foreclosure, the deed was recently transferred to the Birmingham, Alabama based business consulting group according to Hallman. The group’s president said the management group were Dairyland Greyhound Park Inc. shareholders in addition to holding the property’s mortgage.
Hallman added, “We had to foreclose and as a result we’re putting the property on the market,” he said. “We hate to be in this position. We should be up there for the opening of the Hard Rock casino.”
The management group is interviewing Kenosha-area real estate firms in preparation for the sale of the property, which at the time of transfer was valued at $7.15 million according to state records.
In operation since 1990, the Dairyland Greyhound Park was the last remaining dog track operating in Wisconsin. Three other tracks opened the same year and one in 1991, and although track owners were optimistic about their prospects, and three out of four were profitable the first year, all have since been forced to close due to sustained profit losses.
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