Jewel Golf Course Gets New Owners

The new owners of the Jewel Golf Course in Lake City, Minn., held a press conference on October 23, 2006, after they close on the purchase of the golf course and surrounding facilities.

The new golf course owners, called The Jewel LLC, are a group of investors from the Twin Cities area. The group is made up of Glenn Hasse, Tim Hasse and John Friedges.

The golf course is remaining open this season as long as the weather allows. The dining room will remain open right through winter. The new owners plan to expand the dining room to allow seats for 100 people to have space for holiday events.

"We are just really excited to be the new owners here at the Jewel," said Glenn Hasse. "We are looking forward to taking the course to the next step and are looking to increase our business in the new year."

Plans are already in place to keep the previous management team on board, so it is business as usual for the Jewel.

The course was purchased at an unreserved Ritchie Bros. auction on September 23rd for $2.5 million. Besides the Hale Irwin-designed golf course and facilities, the also included more than 100 home sites, over 200 acres of undeveloped land, single-family homes, condominiums and a 2003 Chrysler E825 4-passenger GEM car. Registering to bid were close to 700 people from as far away as Italy, Finland, Jordan, United Arab Emirates, United Kingdom, Hong Kong, the Cayman Islands, Canada and from 39 U.S. states.