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Article: Developers still seek green on golf course. (thirty-six new golf courses planned for construction around the Chicago area)(Industry Overview)
- Article from:
- Crain's Chicago Business
- Article date:
- January 6, 1997
- Author:
CopyrightCOPYRIGHT 1997 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Despite softening demand, projects tee up regionwide
Leave it to developers to overdo a good thing. First they overbuilt offices, then hotels and shopping malls. Golf courses appear to be next.
Real estate experts worry that the long-running golf boom is in danger of becoming overinflated. Some 86 new courses have been built in the six-county area in the past 10 years, bringing the total to almost 300. No other period in this century has experienced such an explosion of development.
As empty tee times became a problem and some courses fell into financial difficulty the past two seasons, many observers figured that the golf construction cycle was poised ...