Now They Foreclosed The Country Club

In our current economic situation, it's not just houses that are falling into foreclosure. I have written before about shopping centers and other commercial locations that are being foreclosed but this is a first for me.

The Gettysburg, Pennsylvania Country Club, located in a very historic area, is being sold at sheriff's sale on January 9, 2009. The club has been unable to attract enough new membership to pay off a $2.9 million loan for renovations completed two years ago and actually closed it's doors in May 2008.

The story from the Carlisle Sentinel:

"The 60-year-old Gettysburg Country Club is slated to be sold at a sheriff's sale next month after a rescue of the troubled organization failed.
Susquehanna Banks, which foreclosed on the property, is seeking a minimum of $2.9 million when the property goes up for bid on Jan. 9 at the Adams County sheriff's office.
The club has been unable to pay off the debt from a major renovation in 2006, including a conference room, ballroom, pub and tennis courts.
It officially closed on May 30 this year after the club couldn't attract the membership it needed to pay down the debt.
The 120-acre property is inside the boundaries of the Gettysburg National Military Park."

While the property is located within the Gettysburg National Military Park, so are hundreds of other privately owned properties, including homes, businesses and privately owned visitor attractions. These were built prior to the designation of the area as a National Park. It is not part of the government land which is the national historic park.

Here is a link to more information that was published on May 31 right after the club closed:

http://civilwarlibrarian.blogspot.com/2008/05/news-gettysburg-country-club-site-of.html