Libertyville sports complex gets a closer look
Libertyville wants to see if it can squeeze more revenue out of the Indoor Sports Center, the only piece of a major facility at Route 45 and Peterson Road that's not for sale.
The village board has approved a contract not to exceed $19,500 with The Sports Management Group of Berkeley, Ca., to analyze the operation in hopes of improving profitability.
"It's just time to see how we are in relationship to the market," said village Trustee Bob Peron, who chairs the village board's parks and recreation committee. "I want to hear all opinions and see what our potential is."
At 168,000 square feet and with eight full-size basketball/volleyball courts, two full-size soccer fields, fitness center and other amenities, the Indoor Sports Center is the centerpiece and most successful portion of the Libertyville Sports Complex, which opened in June 2002.
Overall, the complex has made money. But the numbers turn red when debt service payment for bonds used to build the facility is factored in. The most recent estimate is for a deficit of more than $1.5 million for 2008-09.
Village officials became disappointed with the performance of the Family Entertainment Center, which featured an adventure minigolf course on 6 acres and offered it for sale two years ago.
In June, the village board authorized Inland Real Estate Sales, Inc., to include the Golf Learning Center and its mainstay driving range, in the sale package. That portion remains open for the time being.
The Indoor Sports Center is expected to bring in more than $700,000 above what is spent to operate it next year. But adding the debt puts it at more than $845,000 in the hole.
Hiring a consultant to study the Sports Complex operations was among the village board's goals for 2008-09. The results are intended to provide " a comprehensive strategy on improving the operation and financial condition," of the Sports Complex.
To do that, The Sports Management Group will examine an array of paperwork to analyze opportunities and see how well the complex is performing in the market and assess and identify ways to increase business.
That would include strategies to get the most from meeting room rentals, the fitness center, sponsorships and others areas beyond the main business of sports activities and programs.
Peron said he hopes the study is done by the end of the year so the suggestions can be considered when the village board begins working on the 2009-10 budget.
The budget problem will be solved if the land is sold. Together, the 38 acres for sale could raise $15 million to $22 million, according to figures provided to the village.
The location is considered an advantage, although vacant land is a tough sell these days. There has been interest but no offers.
"We're in a very difficult land market right now," said Dick Kehoe, who is handling the sale for Inland.