The shuttered Pheasant Run golf course property in St. Charles -- 84.7 acres of land owned by the DuPage Airport Authority since 2017 -- was recently sold to the Bartlett-based Greco/DeRosa Investment Group, which plans to construct a six-building industrial park with retail businesses along Route 64.
DuPage Airport Authority Executive Director Mark Doles said the sale was finalized on March 31 for $11.275 million and fulfills the organization's goal of identifying "compatible development" for the location southeast of Route 64 and Kautz Road that neighbors the DuPage Airport.
The area north of the golf course where the Pheasant Run Mega Center once operated was sold to representatives of McGrath Honda and is being renovated into car dealerships. The Pheasant Run Resort closed in March 2020.
"We protected the asset of the airport to make sure there wouldn't be housing, long-term care facilities, nursing homes, anything like that," Doles said. "The industrial market is booming right now. You've got low density, you don't have any noise issues adjacent to the airport, and you're putting property that wasn't on the tax rolls back on the tax rolls. So it's benefiting all the surrounding communities."
St. Charles Mayor Ray Rogina said discussions have been ongoing about the future of the golf course property and that a proposal should be presented soon to city officials.
"There's movement over there, and I know that process has started," Rogina said. "There's been no city council presentation or proposal, but I anticipate that will happen in time."
Doles said the golf course property was purchased by the DuPage Airport Authority for $8.925 million in 2017 as a way to prevent residential development so close to the airport. The group already owns the Prairie Landing Golf Club south of the airport, and Doles said the authority board had no interest in owning a second golf course.
While St. Charles City Administrator Mark Koenen said he hasn't been in contact recently with Greco/DeRosa representatives, he welcomes the opportunity to see detailed plans for the location near the eastern gateway to the city.
"We're expecting to see something, but we haven't seen any applications to date," Koenen said. "We're anxious for this site to be developed. The location lends itself to be an opportunity for redevelopment."
Announcing the purchase on its Facebook page on April 2, Greco/DeRosa posted a diagram of the proposal that officials will present to the city in the coming weeks.
There are six industrial buildings with water detention areas on the north, east and south edges of the property. Retail establishments are planned along Route 64 to the west of the McGrath Honda facility.
Combined with the property sale to McGrath Honda, Doles said the DuPage Airport Authority will post a net profit of about $2.9 million on the completed deals.
"The airport authority board did a really good job of protecting the airport and ensuring we didn't have any problems in the future," Doles said. "And they also turned a profit on the transaction."