LHC Investments announced said it has acquire Lakeshore Athletic Club in Lincoln Park, located at 1320 W. Fullerton. Terms of the deal were not disclosed.
The 185,000-square-foot facility is situated on over 3.5 acres real estate and is one of Chicago’s largest members-only sports and fitness clubs. It opened in 1972. The acquisition does not involve the Lakeshore Athletic Club-Illinois Center.
LHC is a group of Chicago-area investors led by Lincoln Park entrepreneurs Jonathan Bross, Peter Goldman and Reading Wilson. As part of the transaction, the group said it will restructure the outstanding debt on the facility and make investments of up to $7 million to overhaul and improve the operations, physical plant and common areas of the club.
“This is an exciting acquisition for us,” stated Wilson. “Most of us live in Lincoln Park and have been members of the club ourselves for many years. “
this is great as when i left this club 2.5 years ago, it was falling apart and loosing business while still charging high rates..i would gladly come back to this once an overhaul is completed or new management.
they should turn it into the world’s largest CrossFit box.