UAW's North Michigan Resort Off the Market
By Michelle Krebs August 18, 2010The United Auto Workers union has taken down the for sale sign on its luxurious forested retreat known as Black Lake in Northern Michigan.
Officially named the Walter and May Reuther Family Education Center was taken off the market in June at the request of newly inducted UAW President Bob King and the union's new executive board, the Detroit News reports.
The retreat is used for conferences on political action, civil rights and leadership in addition to golf and leisure, the paper said.
The property sits on 1,000 heavily forested acres, has a golf course rated by Golf Digest as No. 34 on the U.S. 100 best public courses. The center features a gym with two full-size basketball courts, an Olympic-size indoor pool, exercise facilities, table tennis and pool tables, a sauna, beaches, hiking and biking trails, sports fields, a boat launch ramp and rooms and condominiums.
The UAW put the retreat on the market citing the recession and its shrinking membership ranks. The center lost $23 million over the past five years and required the union to borrow money to keep it afloat,
The realtor previously handling the property told the Detroit News that there had been interest by more than one potential buyer; the property had no listing price, though $33 million is the price that has been mentioned.
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