Thunder Hill Golf Course in Madison, Ohio has been put up for sale. The Slagle family, who owns the property, has listed the golf course, clubhouse and outbuildings with a local real estate agent. Price tag: a whopping $5 million.
The property is listed for sale through agent Marilou Tipton of Howard Hanna; details on the offering are here.
Throughout most of 2010, the property had been managed by Kevin Leymaster and Todd Bishop of TK Golf. But as play numbers dropped, revenues flagged and course conditions deteriorated, legal action was initiated by both TK Golf and the Slagle family through their Fore Ds company.
(Before TK Golf , the property was managed by the well-financed Meadowbrook Golf Management, but that company cut ties even after making a sizable investment in capital improvements because they couldn’t generate revenues.)
This year, the Thunder Hill website states that the property is under new management, but no explanation is provided as to who makes up that management team. The News Herald states that sons Damon and Darian Slagle are running the property.
This week, postings to several obscure golf websites by Tracie Pascoe (daughter of the HH real estate agent) ask for ideas and advice on the sale of a golf course property. Postings have been made to sites like GolfForum.com and GolfBlogger.com.
So since the request has been made, here’s some advice:
Tanglewood Country Club sold last year at auction for just $950K to Willoughby Hills attorney and developer Marc Strauss. That property is located within a far more substantial population center, too. So if the Slagle family and Howard Hanna really want to sell Thunder Hill, the first piece of advice they might want to consider is to re-evaluate the completely unrealistic $5M asking price…
At $5 million, that property is an absolute steal for the right developer.
“Now, the price of the gaming license is twenty thousand dollars ….. am I right?”