Who Needs to Financially Rescue the Historic Michigan Race Track Value $15 Million?
In the heart of Western Michigan, approximately 2.5 hours from Detroit, lies Grattan Raceway - a 190-acre property that has been a staple in motorsports for over six decades. This iconic racetrack, owned by the same family throughout its 65-year history, is now perpetually for sale, with an asking price of $15 million, according to the most recent listing.
Grattan Raceway offers more than just a thrilling racing experience. It boasts a 2.0-mile road course with a 3,200-foot straightaway, a 1.25-mile motocross track, full concessions, covered seating for fans, ponds, and even a private pool. The property also has over 4,000 feet of frontage along Muskrat Lake, which could potentially make it attractive for real estate development.
Kurt Faasen, co-owner of Grattan Raceway and a man who expresses his desire to continue working beyond his current age, shared stories of celebrities who have raced at the track, including Paul Newman, Walter Payton, and Tom Cruise. Faasen hopes that the racetrack will continue to function as such, but the reality is that the potential buyer, if they spend anywhere near $15 million, may not make money by hosting private track days and low-key weekly events.
The economic conditions may also play a role in the asking price. With the current asking price significantly higher than the last sale attempt, some may question its feasibility. However, it's important to note that most large properties with motorsports facilities are often bought by real estate developers who demolish the tracks and turn them into housing subdivisions.
Despite this possibility, Faasen remains hopeful. Grattan Raceway is more than just a racetrack; it's a piece of history, a community, and a place where memories are made. As we wait to see who will take the reins, one thing is certain - Grattan Raceway will continue to be a beacon of motorsports in Michigan.
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[1] [Municipal Development Proposal, Madison, Wisconsin] [2] [Real Estate News Archive]
The unique blend of sports and motorsports at Grattan Raceway extends beyond just racing, offering a diverse range of activities such as motocross, concessions, and even a private pool.
The potential sale of Grattan Raceway, priced at $15 million, could see a shift from its current use as a racetrack to a future as a real estate development, given the increasing trend of such properties being purchased by developers.
