Hawthorne Race Course has reached a preliminary agreement to sell the track for $90 million to a company that’s expected to close down the racetrack unless another bidder comes to the rescue in bankruptcy court.
The west suburban track submitted a “stalking horse” proposal Thursday in bankruptcy court to sell its real estate assets only to ALLIMAC 2023 LLC, a Delaware-based shell company that may be representing an unknown corporate buyer.
Hawthorne President Tim Carey previously has said that proposals for the site include turning it into a data center.
While track officials declined comment, members of the Illinois Thoroughbred Horsemen’s Association held out hope that Hawthorne may yet be saved as the last professional horse racing track in the Chicago area.
