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Local investors working to re-open Lake Lawn Resort

Photo

Photo by Terry Mayer

Delavan's Lake Lawn Resort, Dec. 8, 2010, the day after it closed.

Update: 8:25 p.m., Thursday, March 17, 2011 -- Ann Marie Ames reports in today's Gazette that the investors first offered $8.4 million for Lake Lawn Resort, then upped it to $9.3 million. The Delavan City Council meets tonight to hear a presentation from the investor group and will discuss what help the city can provide. Ames' story will be online today after 4 p.m.

3:15 p.m., Wednesday, March 16, 2011 -- The front entrance of Delavan's Lake Lawn Resort remains gated, but behind the scenes, a group of local developers is hoping to open the gate in time for this year's resort season.

All that's standing in their way, they say, are the banks.

In a letter posted on the blog, SavingLakeLawn, Jim Drescher writes:

"Though it has taken awhile I have put together a group of local investors that all share my belief that we need to get people their jobs back and restore this wonderful resort so it is around for many years to come."

Drescher, a Geneva National Resident and philanthropist has donated to a variety of local causes. He helped fund the W.C. Resource Center Food Pantry in Lake Geneva, as well as the pool at the new Lakeland School of Walworth County.

Drescher's partner in the food pantry project, Lake Geneva Real Estate developer Sal Dimiceli, also is part of the group, according to the blog. Dimiceli is the founder of the local philanthropic group, The Time is Now.

Drescher writes that the only stumbling block is with the various banks involved in the Lake Lawn foreclosure. The group has begun publicizing its interest in Lake Lawn in hopes of convincing the banks to sign off on the deal.

Despite the roadblock, the Delavan City Council will take up a possible sale at a special council meeting beginning at 7:30 p.m. Thursday, according to a meeting agenda.

Drescher and Dimiceli have a reputation for getting things done. Although they can be impatient and aren't worried about ruffling feathers, they have a reputation for completing projects in a short amount of time.

To pull the Lake Lawn project off, they've reportedly enlisted the help of Bill Gage of Gage Marine to run the marina.

Gary Paluch, vice president and chief operating officer of Geneva National Golf Club, also is on board to manage the golf course.

Together, the group appears to be able to bring immediate investment, experience and knowledge to the project.

Despite hopes that a last-minute deal would keep the historic Delavan vacation destination open, Lake Lawn Resort closed Dec. 7, 2010.

Anchor Bank of Madison in October bought back the financially troubled property in a foreclosure sale for $19.97 million.

City officials had hoped the resort would re-open somehow this summer, but this news is the first report that appears to have serious merit.

Reporter Ann Marie Ames currently is working on a story for Thursday's Gazette.