ST. CHARLES – The final bid to purchase the iconic Pheasant Run Resort is $6 million.
The online auction, which is taking place on the website ten-x.com, just ended. Bidding started at $2 million. It has not been announced who made the bid.
According to the website, the reserve price – the minimum selling price established by the seller – had not been met. Colliers International real estate services and investment management company had previously listed Pheasant Run as being for sale on its website. During the recession in 2011, the 293-room resort at 4051 E. Main St. went into foreclosure. A hotel investors group in 2014 bought Pheasant Run, which since then has been managed by Schaumburg-based Hostmark Hospitality Group.
Edward McArdle opened Pheasant Run Resort in February 1963 on land that was previously a dairy farm owned by Colonel Edward Baker.