SCHAUMBURG, Ill.—The Pheasant Run Resort and Spa in St. Charles, Ill., in foreclosure since 2011, was purchased by Saint Charles Resort LLC, a collaborative group of experienced hotel investors and operators who will acquire title upon confirmation of the sale in the underlying foreclosure action. Hostmark Hospitality Group will manage the 473-room property and oversee a $5 million capital improvement project designed to rejuvenate the 250-acre resort founded by Edward McArdle in 1963. Terms of the deal have not been disclosed.
“This is an exceptional opportunity for our team to build upon the 50-year legacy of this property, revitalizing the resort’s impact on the surrounding community, its commerce, and employment opportunities,” said Jerome F. Cataldo, president and CEO of Hostmark Hospitality Group. “We look forward to polishing the entire resort for a grand reintroduction to guest—past, present, and future.”
Positioned as the Midwest’s largest entertainment resort, Pheasant Run attracts leisure, business, and meeting clientele with its 18-hole golf course, Spa Vargas, two restaurants, two pool bars, a 320-seat theater, three lounges, three pools, Zanies Comedy Club, a 38,000-square-foot expo center, and 42 meeting rooms. Located just one hour west of Chicago, the property also features a new golf practice center with 50 grass hitting stations, putting, and short game areas and state-of-the-art instructional equipment.
Planned capital improvements will include upgraded infrastructure and fresh looks for building exteriors, public spaces, and guestrooms and baths. Final decisions regarding the selection of a prominent, Chicago interior design firm will be made shortly, according to Cataldo.