CABLE, Wis. (AP) — A new investment group has purchased the financially-troubled Telemark Lodge and Resort at a Bayfield County auction.
The company had the top bid of $926,000 for the property which last sold in 2011 for $2 million. The resort has gone through a series of owners and failed attempts to revive the business since it was opened in the 1970s.
The resort has been closed since March when it was abandoned by its operating company. The lien holder, Great Southern Bank, received a foreclosure judgment in August, which paved the way for the auction at the courthouse in Washburn Tuesday. The Duluth News Tribune (http://bit.ly/19I4VJb ) says the bank also made a bid.
The resort near Cable is the starting point for the annual American Birkebeiner cross-country ski race in February. The new owners of the lodge have not been named.
Information from: Duluth News Tribune, http://www.duluthnewstribune.com