Northern ski resort in foreclosureA storied ski lodge in Wisconsin dating back to the 1940’s -- Telemark Resort -- is being surrendered to the mortgage holder.
By: Shamane Mills, Wisconsin Public Radio, Superior Telegram
A storied ski lodge in Wisconsin dating back to the 1940’s is being surrendered to the mortgage holder. Telemark Resort is the location of several high profile ski and bike races that attract participants worldwide.
Telemark Resort in northern Wisconsin is located in hilly, wooded terrain. The ups and downs of the resort's financial history hit a low point recently when a planned sale fell through this spring. Owners now are in the process of "friendly foreclosure."
Susan Wiik, vice president of the owners group, says it’s sad surrendering the lodge to the mortgage holder, but the resort has not made a profit in the last 11 years.
It's expected Telemark will be transferred to the mortgage holder in October. Organizers of two athletic events traditionally held on the property will continue their races this year. One, the Fat Tire Festival, is this Saturday. The other, the American Birkebeiner cross country ski race, is in February.
American Birkebeiner Ski Foundation director Ned Zuelsdorff plans to contact the lien holder for access to Telemark trails. As for registration and skier expo, it's been moved to the Hayward Middle School.
The resort closed in May, but five nearby condominiums are still operating. They are on a separate piece of deeded land, apart from the 1,000 acres that will return to the investor.