Pheasant Run Resort will closed its doors on March 1, according to an article in the Kane County Chronicle.
The resort had been put up for an online public auction, which ended Feb. 12, but the final bid of $6 million did not meet the minimum selling price established by the seller, according to the Ten-X Commercial real estate website and an article in the Daily Herald.
The starting bid for the 18.3-acre property had been $2 million.
According to the Chronicle, the auction did not include the sale of Pheasant Run Mega Center or the 18-hole golf course.
Pheasant Run has been a mainstay in St. Charles since Feb. 16, 1963, when Edward J. McArdle opened the entertainment destination resort on the site of a former 175-acre dairy farm owned by Col. Edward J. Baker.
Through the years, it has grown to become a renowned convention center, hosting numerous events attended by people across the nation and around the world, the most recent of which was the Old House, New House Home Show from Feb. 7 through Feb. 9.
St. Charles City Administrator Mark Koenen told the Chronicle that the resort generates between $500,000 and $600,000 in tax revenue for the city.
The hotel includes 293 rooms and suites across 16 floors with a diverse selection of lodging accommodations.
- Kane County Chronicle: Pheasant Run Resort set to take its last reservations on Feb. 29
- Daily Herald: Auction closes with $6 million final bid for Pheasant Run Resort