Dover inc, has abandon the race facility
and quick claim land leases back to the land owners
all but 150 ac of 279 has been returned to the owners
what does this mean now ??

http://www.bizjournals.com/stlouis/

forgot to post link,, sorry guys

Hi Dennis, the quit claim will absolve Dover from some legal liabilities. It will probably make it easier and cheaper to provide security services for the remaining 150 acres they retain title to. One thing I've wondered about for some time is state [ taxpayer ] liabilities. When Chris Pook and the Grand Prix Ass. of Long Beach first acquired the property and built the present facility I believe the state of Ill. was in effect a co-signer for $20,000,000.00 in bonds. I have no idea if the bonds have been paid off or if the state is still on the hook. This would be separate from any other tax liabilities. Maybe it will make it easier to unload the remaining property. My best guess is that Dover Downs will come out OK in the end and the state will take a bath. Just what Ill. needs, more debt.

boy this could get ugly
or ??
some talk that the state will take it and build highway
system thru it and use eminate domain
but then i hear that the previous owner will
take possesion (pook) for debt owed to him
so idono
dover said they would eleimnate the 120 ac they own within this year
which for me i believe next 60 days!!
midstate is also up for auction now as well
on the 29 of march
cole county is my closes track

I just read on the IHRA web site that Midstate just signed on with them for a multi-year deal. Midstate used to be my home track, but now I run at Byron.

Why would IL take that property for the highway? I don't see the reasoning behind that one.

ok nothin says they will take it for a highway ,, but it is possible
they are building a new bridge across the miss
and that track may be in the way ,
ok as for midsate
it is foreclosed by the bank in havana ,and jacksonville banks
they have a court auction set for march 29 at 10: am
higgest bidder
as for ihra is see it too
there is drama up there as a bob gibson is trying to purchase it
but with the leagalities who know s how it will work out
idono


State of Illinois
in the circuit court
of the
eighth judicial circuit
mason county
JACKSONVILLE )
SAVINGS BANK, )
Plaintiff, Counter- )
Defendant, )
vs. )
HAVANA NATIONAL )
BANK, Defendant, )
Counter-Plaintiff, )
vs. )
MIDSTATE DRAGWAY, )
INC., an Illinois )
corporation; JOHN )
WAGAHOFF; )
GEBHARDT'S TRAILER)
SALES, INC.; CHRIST- )
OPHER J. SHENUK; )
CARRIE A. SHENUK; )
JACKLYN E. GEBHARDT)
-STILL; UNKNOWN )
OWNERS and NON- )
RECORD CLAIMANTS, )
Defendants. )
Case No. 10-CH-33
Notice of Court Sale
PUBLIC NOTICE is hereby given that pursuant to a Judgment of Foreclosure entered by the Court in the above entitled cause, the property hereinafter described or so much thereof as shall be sufficient to satisfy said Judgment, will be sold to the highest bidder.
1. The name, address and telephone number of the person to contact for information regarding the real estate is:
Carrie Shaw
Havana National Bank
112 South Orange Street
Havana, Illinois 62644
PHONE: 309/543-3361
2. The common address and other common description, if any, of the real estate is: 12016 N CR 1605 E, Havana, Illinois 62644
3. The legal description of the real estate is:
Part of the Southwest Quarter (SW 1/4) of Section Thirty (30), Township Twenty-one (210 North, Range Eight (8) West of the Third Principal Meridian, Mason County, Illinois, being more particularly described as follows:
Commencing at the Southeast corner of the Southwest Quarter (SW 1/4) of Section Thirty (30), Township Twenty-one (21) North, Range Eight (8) West of the Third Principal Meridian, Mason County, Illinois; thence South 89¼ 50'28' West along the South line of said Southwest Quarter (SW 1/4), 1360.33 feet to the true point of beginning; thence North 00¼ 52' 43' West, 60.00 feet; thence North 89¼ 50' 28 East parallel with the South line of said Southwest Quarter (SW 1/4), 300.00 feet; thence North 00¼ 52' 43' West, 608.00 feet; thence South 89¼ 50' 28' West, parallel with the South line of said Southwest Quarter (SW 1/4), 300.00 feet; thence North 00¼ 52' 43' West, 1169.23 feet; thence South 76¼ 47' 03' West, 644.11 feet; thence North 35¼ 28' 25' West, 264.16 feet; thence North 66¼ 37' 54' West, 139.37 feet; thence North 23¼ 03' 03' West, 552.65 feet; thence South 68¼ 54' 02' West, 56.93 feet; thence South 30¼ 29' 24' East, 610.14 feet; thence South 20¼ 43' 18' East, 926.20 feet; thence South 00¼ 29' 35' East, 71.60 feet; thence South 05¼ 54' 26' West, 105.31 feet; thence South 27¼ 17' 42' East, 231.16 feet; thence South 22¼ 48' 08' West, 228.04 feet; thence South 14¼ 34' 45' East, 327.13 feet; thence North 85¼ 45' 01' West, 91.92 feet; thence South 00¼ 00' 00' East, 110.48 feet to the South line of said Southwest Quarter (SW 1/4); and thence North 89¼ 50' 28' East, 666.58 feet to the true point of beginning; situated in the County of Mason, in the State of Illinois, said parcel containing 33.94 acres, more or less, together with a permanent easement for access thereto over the following described strip of land:
Beginning at the Southeast corner of the Southwest Quarter (SW 1/4) of Section Thirty (30), Township Twenty-one (21) North, Range Eight (8) West of the Third Principal Meridian, Mason County, Illinois; thence South 89¼ 50' 28' West along the South line of said Southwest Quarter (SW 1/4), 1360.33 feet; thence North 00¼ 52' 43' West, 60.00 feet; thence North 89¼ 50' 28' East parallel with the South line of said Southwest Quarter (SW 1/4), 1360 feet, more or less, to the East line of said Southwest Quarter (SW 1/4); and thence South along the East line of said Southwest Quarter (SW 1/4); and thence South along the East line of said Southwest Quarter (SW 1/4), 60.00 feet to the point of beginning; situated in the County of Mason, in the State of Illinois.
Tax Identification No. 005-838001
4. A description of the improvements on the real estate is: commercial property.
5. The real estate may be inspected prior to sale at the following times: Inspection must be arranged by contacting
Carrie Shaw
Havana National Bank
112 South Orange Street
Havana, Illinois 62644
PHONE: 309/543-3361
6. The time and place of the sale are: Mason County Courthouse, Havana, Illinois, on March 29, 2011 at 10:00 a.m.
7. The terms of the sale are: Ten Percent (10%) on date of sale, balance upon receipt of Deed, subject to approval of said Court. Upon and at the sale of the real estate, the successful bidder will be given a Receipt of Sale. Upon or after confirmation of the sale, the successful bidder shall receive a Sheriff's Deed to the real estate. Sale is subject to 2011 real estate taxes.
8. The case title, case number and the Court in which the foreclosure was filed: See captioned heading of this Notice.
9. Title will be conveyed subject to all general real estate taxes which are a lien upon the real estate, but have not yet become due and payable, and special assessments, if any, and easements and restrictions of record.
BY: Blake Lindner
One of Plaintiff's Attorneys
2/23,3/2,9np



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YES IT IS VERY CLOSE
but it is not on the map yet, but with this news , that may and could change ,
look not saying it isgoing to happen, it does have that possiability
i still believe there is a ace in the hole here
and that this could be just a stepping stone to getting a deal
done with a new owner? or previous one time will tell
but things sure are heating up for some reason
they sure didnt do that with memphis ,, did they??
and this is on a fast pace for some reason as well??

well its winter time, nothing else to do but talk, guess and
speculate as to what will /wont happen,
time will tell now as to what happens,just amazed as to the
speed of this , and what brought this on ?
i wasn't thinking that dover would abanden the property that
they have millions invested in?
you would think that any sale money is better than given it away!!
and the way it sounds they will just sell the 120 ac they do own
for what ever land will bring , not worrie there is a dragstrip on it
WOW

Not sure if this is "new", but it was recently posted on Drag Racing Online.

Gatway

No more rumours. Just the facts ma'am.

Veeeery interesting

very intresting indeed..
i would say we will see and hear something late this week,
maybe early next week that we will have a new owners,
then 30-60 days to get to a closing ,, just a rumoe tho