Hillmoor and what’s going on there.
Laurence Freed, the guy who’s been convicted of financial misdealing’s and is apparently headed for a long term in Federal prison, has stepped aside, following his purchase of the old defunct Hillmoor Golf Course located up on Catholic Hill in the northern portion of Lake Geneva.
It’s kind of strangely instructive that the guy who ran Hillmoor for years, and finally bailed it out, leaving it to return to its natural state (and Lake Geneva’s northern eyesore) was also accused of massive financial misdealing’s before he fled. Three men, friends of friends in business, have come forward to take the reins and attempt to make something out of the strategically located golf course. Paul Fitzpatrick is the main player, wheeling and dealing to turn this three point four-million-dollar property into something that has an R.O.I. For those of you who don’t know, those letters stand for the most important words any person investing in business property will ever hear. They stand for “return of investment.”
The Hillmoor questions remain the same ones asked over and over again as one potential builder and developer after another has purchased the land, and then tried to figure out how to make the property pay. A lake, a working artist’s colony, a slew of apartment buildings or now maybe the YMCA? That’s right, the YMCA is rumored to be very quietly looking for a new home. The Lake Geneva Family Lakes YMCA is one of the most successful youth and adult recreational organization within one hundred miles, and that includes Chicago. The five thousand plus members, from all the communities around the lake and beyond, and the high usage of their memberships have made it necessary for the “Y” to move to a larger property. The facility they have near Culvers and McDonalds on Wells Street is too small, and has no capability to expand farther because of how it is bordered. The traffic plan on North Wells Street has become downright dangerous when entering or leaving the YMCA property, so it is time.
But where can they go, and with what kind of a budget?
The Hillmoor trio are not talking, and neither are the board members of the YMCA. Right now where the “Y” is going is anybody’s guess, although the “Hillmoor South” property that sits down a block across the road from the Hillmoor Golf Course proper might be perfect. The new controlling members of the Hillmoor real estate trust have also consulted with Brian Pollard to see if his most excellent development company might have any interest in building something that might actually make some money on the land.