Our happy and idyllic marriage of the Burlington Railroad and the Bracken Country Club ended 1965. Up until that time, the Railroad had leased us the 1,003 acres of lake and timber area for $1,000 per year, even paying our taxes. A new set of Railroad directors in Chicago were being faced with declining revenues and increased cost of operation. Barge lines, trucking firms, and airlines were giving the Railroad stiff competition. The Railroad sought new sources of additional revenue. For many years the Railroad had owned choice locations for grain elevators and other contiguous acres which they had leased for very nominal fees. Lake Bracken was one of these areas. In 1965, our rent was increased substantially from $1,000 to $20,000 per year. This meant that dues from our members were increased proportionately. This resulted in a cancellation of many memberships, dropping from 1,000 members to 500 members. The cost of operating the Club increased one hundred fold, and this had a profound effect on our activities. Then, in December of 1970, our Club President John Adams received notice from the Burlington that they would no longer lease their land to the Club but instead offered to sell us their property for 4 1/2 million dollars. The BurlingtonNorthern meant business. Our happy marriage of the Railroad and the Club was over.
Our President, John Adams, asked Cecil Nash to select a special negotiation committee to deal with the Railroad. Wm. Foley, Jack McFall, Marvin Behrents, Jim Hardine, Myron Hovind, Cecil Nash, Del Jordan, John Lewis, and Attorney John Hattery were appointed. At their first meeting, it was established that the maximum amount the Club could pay for the property was $1,200,000. When this committee met with the Burlington officers, they offered to purchase the property for $500,000. The Railroad rejected this offer and held to their asking price, and subsequently put the property on the open market. At this time, Rep. Fred J. Tuerk (R. Peoria) filed a bill in Springfield providing that any tenant who owned a residence at the Lake for five years or longer would have an equal voice in proceedings before the ICC involving the disposition of the property by the BurlingtonNorthern Railroad. We are indebted to Rep. Tuerk for getting this bill passed by the State. After three years of negotiating, the sale was finally consummated for the sum of $1,250,000.
At one time, Knox College was involved in the sale. If Knox had purchased the land, the lease would have been so high that it would have been impossible to operate the Club.
A non-profit organization named Bracken Holdings, Inc. was formed to implement the purchase of the property. Shares in the Corporation were obtained as follows: Each of the 145 home sites were leased to 99 years at two times the appraised value of each site, which created a sum of $766,000. (This appraisal was by Harold D. Barley Company, M.A.I., Peoria, covering the 938.23 acres with improvements, for a fair value of $1,250,000.
Club members were asked to buy Membership Certificates for $360 each. The sum of $252,000 was gathered in this way, with which the Club then bought shares in Bracken Holdings at $1.00 per share based on the twentytwo acres they owned on Northwood Drive, with Club improvements thus, the Home Owners owned 75% of the shares, and the Country Club owned 25% of the shares. The balance needed to complete the purchase was borrowed from the First National Bank on a 20 year note at 9% interest. The down payment to close the deal was $100,000, which was derived from the Membership Certificates.
A new set of officers was chosen and elected by the membership as the officers of Bracken Holdings, Inc.
President - Cecil L. Nash
Vice President - John Adams
Secretary - George Hiedenblut
Treasurer - Del L. Jordan
They were elected for the first year and were eligible to succeed for one year terms. The Club is fortunate to have had these good men of the Lake Bracken Country Club and Bracken Holdings, Inc. to work in harmony to promote the interests of all concerned. It was a daring and giant step taken by our officers when they acquired the Burlington property. Now it all belongs to us. We are now the sole owners of the Lake Bracken Country Club! There will be no more surprise increases in rent in future years.
The full purchase of the Club property included the Shaubena youth camp. This camp was leased by the Club for nearly 50 years at a token fee of $1.00 per year. The camp had free run of some 45 acres where they erected and maintained cabins and other camp facilities.
The Shaubena Scout Camp was established on the area south of the club and lake. The camp was leased to the Boy Scouts for $75 per year in the early Thirties. It flourished for
a time as a Scout camp until the Boy Scouts moved to a new location. Cabins, a dining room, a beach and boat dock had been built in this lovely area. These facilities had been a summer camp for the area youth through the YMCA and 4-H groups for 50 years.
In the early days of the camp, it attracted many campers of all ages, but especially the teenagers. Somehow their activities declined through the years and attendance dropped. The camp revenues were insufficient to maintain the buildings which deteriorated from year to year.
Our President, John Adams, asked Cecil Nash to select a special negotiation committee to deal with the Railroad. Wm. Foley, Jack McFall, Marvin Behrents, Jim Hardine, Myron Hovind, Cecil Nash, Del Jordan, John Lewis, and Attorney John Hattery were appointed. At their first meeting, it was established that the maximum amount the Club could pay for the property was $1,200,000. When this committee met with the Burlington officers, they offered to purchase the property for $500,000. The Railroad rejected this offer and held to their asking price, and subsequently put the property on the open market. At this time, Rep. Fred J. Tuerk (R. Peoria) filed a bill in Springfield providing that any tenant who owned a residence at the Lake for five years or longer would have an equal voice in proceedings before the ICC involving the disposition of the property by the BurlingtonNorthern Railroad. We are indebted to Rep. Tuerk for getting this bill passed by the State. After three years of negotiating, the sale was finally consummated for the sum of $1,250,000.
At one time, Knox College was involved in the sale. If Knox had purchased the land, the lease would have been so high that it would have been impossible to operate the Club.
A non-profit organization named Bracken Holdings, Inc. was formed to implement the purchase of the property. Shares in the Corporation were obtained as follows: Each of the 145 home sites were leased to 99 years at two times the appraised value of each site, which created a sum of $766,000. (This appraisal was by Harold D. Barley Company, M.A.I., Peoria, covering the 938.23 acres with improvements, for a fair value of $1,250,000.
Club members were asked to buy Membership Certificates for $360 each. The sum of $252,000 was gathered in this way, with which the Club then bought shares in Bracken Holdings at $1.00 per share based on the twentytwo acres they owned on Northwood Drive, with Club improvements thus, the Home Owners owned 75% of the shares, and the Country Club owned 25% of the shares. The balance needed to complete the purchase was borrowed from the First National Bank on a 20 year note at 9% interest. The down payment to close the deal was $100,000, which was derived from the Membership Certificates.
A new set of officers was chosen and elected by the membership as the officers of Bracken Holdings, Inc.
President - Cecil L. Nash
Vice President - John Adams
Secretary - George Hiedenblut
Treasurer - Del L. Jordan
They were elected for the first year and were eligible to succeed for one year terms. The Club is fortunate to have had these good men of the Lake Bracken Country Club and Bracken Holdings, Inc. to work in harmony to promote the interests of all concerned. It was a daring and giant step taken by our officers when they acquired the Burlington property. Now it all belongs to us. We are now the sole owners of the Lake Bracken Country Club! There will be no more surprise increases in rent in future years.
The full purchase of the Club property included the Shaubena youth camp. This camp was leased by the Club for nearly 50 years at a token fee of $1.00 per year. The camp had free run of some 45 acres where they erected and maintained cabins and other camp facilities.
The Shaubena Scout Camp was established on the area south of the club and lake. The camp was leased to the Boy Scouts for $75 per year in the early Thirties. It flourished for
a time as a Scout camp until the Boy Scouts moved to a new location. Cabins, a dining room, a beach and boat dock had been built in this lovely area. These facilities had been a summer camp for the area youth through the YMCA and 4-H groups for 50 years.
In the early days of the camp, it attracted many campers of all ages, but especially the teenagers. Somehow their activities declined through the years and attendance dropped. The camp revenues were insufficient to maintain the buildings which deteriorated from year to year.
Located at: 1036 Sunny Knoll Drive, Galesburg, IL 61401
Contacts: Business Office - (309) 342-4431 : Fax - (309) 342-3829 : Golf Shop - (309) 343-5915 : Restaurant - (309) 343-5912 Swimming Pool - (309) 342-2413 Grounds - (309) 342-4341 E-mail Us
Contacts: Business Office - (309) 342-4431 : Fax - (309) 342-3829 : Golf Shop - (309) 343-5915 : Restaurant - (309) 343-5912 Swimming Pool - (309) 342-2413 Grounds - (309) 342-4341 E-mail Us
