Hilco Global Sets June 26 Deadline for Hawthorne Race Course Bids Amid Restructuring Efforts
In a significant move for the future of the Hawthorne Race Course, Hilco Global, in partnership with Province LLC, has announced that it will accept bids for the property until June 26 as part of its Chapter 11 restructuring proceedings. This announcement opens the door for potential buyers and investors to acquire the iconic venue, which has served as a cornerstone of the Chicago racing scene for over a century.
The Hawthorne Race Course, established in 1891, is the oldest horse racing track in Illinois, featuring a sprawling 108-acre property located in Stickney, just 10 miles from downtown Chicago. The site hosts approximately 1.12 million square feet of buildings, including a grandstand, clubhouses, barns, and other facilities, all capable of accommodating more than 2,100 horses — a prime asset for any racing enthusiast or developer.
As part of the offering, potential buyers will find a flexible acquisition opportunity, as the property is being marketed both as a going-concern and for its substantial redevelopment potential. Hawthorne comes with valuable gaming and racing entitlements, which include the possibility of a casino development with up to 2,000 authorized gaming positions. With Illinois ranking among the nation's leading gaming markets — seeing $1.9 billion in casino revenues in 2025 — the timing for investment is particularly favorable.
In addition to its gaming exploits, the site includes an established off-track betting network with ten active locations and rights for both Thoroughbred and harness racing. The combination of an operating racing platform and valuable gaming licenses offers a unique value proposition to potential investors. Moreover, it positions Hawthorne Race Course to thrive in a market that is increasingly favoring gaming and entertainment experiences.
The strategic location of Hawthorne Race Course bolsters its appeal as an industrial redevelopment opportunity. With established Heavy Industrial zoning and immediate access to major transportation routes, the site represents one of the largest remaining infill development parcels in the greater Chicago area. This makes it an attractive proposition for developers looking to tap into the burgeoning industrial and logistics sector. The proximity to critical infrastructure, including major highways, intermodal facilities, and the Chicago Midway International Airport, positions the course as a highly advantageous site for future industrial ventures.
Given the ongoing Chapter 11 process, Hilco Global views this as a rare opportunity for qualified buyers to acquire a distinguished regional asset, enhanced by a court-supervised transaction structure designed to ensure maximum value. Adam Rosen, partner at Province LLC, stated, "Hawthorne combines a long-standing operating platform with valuable gaming entitlements and substantial real estate optionality, creating multiple paths for future investment and redevelopment."
As the bidding process heats up, interest is expected to come from a broad spectrum of stakeholders, including gaming operators, entertainment groups, industrial developers, and institutional investors who see the immense potential in redeveloping a property with such a storied past. The forthcoming deadline is imminent; those wishing to participate must submit their bids and follow the procedures laid out through Hilco Global's real estate sales website.
For further information on this unique investment opportunity, interested parties can reach out to Province LLC representatives or Hilco Global to learn more about the intricacies of the bidding process. As Chicago continues to be recognized for its connectivity and business potential, the outcome of this bidding process could set the stage for the next chapter of the Hawthorne Race Course — whether it remains an entertainment hub or transforms into a new industrial narrative. It's a chance for investors to play a pivotal role in reshaping a landmark asset that has been a part of the region's identity for generations.
The Hawthorne Race Course, established in 1891, is the oldest horse racing track in Illinois, featuring a sprawling 108-acre property located in Stickney, just 10 miles from downtown Chicago. The site hosts approximately 1.12 million square feet of buildings, including a grandstand, clubhouses, barns, and other facilities, all capable of accommodating more than 2,100 horses — a prime asset for any racing enthusiast or developer.
As part of the offering, potential buyers will find a flexible acquisition opportunity, as the property is being marketed both as a going-concern and for its substantial redevelopment potential. Hawthorne comes with valuable gaming and racing entitlements, which include the possibility of a casino development with up to 2,000 authorized gaming positions. With Illinois ranking among the nation's leading gaming markets — seeing $1.9 billion in casino revenues in 2025 — the timing for investment is particularly favorable.
In addition to its gaming exploits, the site includes an established off-track betting network with ten active locations and rights for both Thoroughbred and harness racing. The combination of an operating racing platform and valuable gaming licenses offers a unique value proposition to potential investors. Moreover, it positions Hawthorne Race Course to thrive in a market that is increasingly favoring gaming and entertainment experiences.
The strategic location of Hawthorne Race Course bolsters its appeal as an industrial redevelopment opportunity. With established Heavy Industrial zoning and immediate access to major transportation routes, the site represents one of the largest remaining infill development parcels in the greater Chicago area. This makes it an attractive proposition for developers looking to tap into the burgeoning industrial and logistics sector. The proximity to critical infrastructure, including major highways, intermodal facilities, and the Chicago Midway International Airport, positions the course as a highly advantageous site for future industrial ventures.
Given the ongoing Chapter 11 process, Hilco Global views this as a rare opportunity for qualified buyers to acquire a distinguished regional asset, enhanced by a court-supervised transaction structure designed to ensure maximum value. Adam Rosen, partner at Province LLC, stated, "Hawthorne combines a long-standing operating platform with valuable gaming entitlements and substantial real estate optionality, creating multiple paths for future investment and redevelopment."
As the bidding process heats up, interest is expected to come from a broad spectrum of stakeholders, including gaming operators, entertainment groups, industrial developers, and institutional investors who see the immense potential in redeveloping a property with such a storied past. The forthcoming deadline is imminent; those wishing to participate must submit their bids and follow the procedures laid out through Hilco Global's real estate sales website.
For further information on this unique investment opportunity, interested parties can reach out to Province LLC representatives or Hilco Global to learn more about the intricacies of the bidding process. As Chicago continues to be recognized for its connectivity and business potential, the outcome of this bidding process could set the stage for the next chapter of the Hawthorne Race Course — whether it remains an entertainment hub or transforms into a new industrial narrative. It's a chance for investors to play a pivotal role in reshaping a landmark asset that has been a part of the region's identity for generations.
Topics General Business）
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