For Sale: Former Balmoral Park, Now Show Jumping Facility, Listed At $4 Million

News — Thu, 10 Dec 2020 21:56:38 +0000

Balmoral Park in Crete, Ill., hosted its final race in 2015 before the property went into bankruptcy. Purchased for $1.7 million in 2016, it was then transformed into a show jumping facility by New York-based Horse Shows in the Sun, or HITS, which hosted its first horse shows in 2017.

Now there are 10 arenas, renovated stables, and the racing grandstand with 4,400 seats still on the property.

According to the Chicago Tribune, the Balmoral property is back on the market with an asking price of $4 million.

The 2016 deed for the 200-acre property prohibits gambling until 2026, but HITS confirmed last year that it had a pending deal with real estate developer Phil Goldberg, who planned to reintroduce harness racing and build a casino. Neither Goldberg nor HITS commented on the listing.

Balmoral was built as Lincoln Fields in 1926, and the name change to Balmoral came with a sale in 1955. The track has hosted both Thoroughbred and harness racing during its history.

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For Sale: Former Balmoral Park, Now Show Jumping Facility, Listed At $4 Million