Just over a year after buying Eaglewood Resort & Spa out of financial distress, Arbor Lodging Partners is putting the property’s 102-acre golf course up for sale, aiming to convert the fairways into a residential subdivision while keeping the 295-key hotel for itself. The golf course sits at 1401 Nordic Road in Itasca, and roughly 47 of its 102 acres are considered buildable land for single-family homes.
Arbor Lodging bought the entire resort, golf course included, for $28 million in August 2025, according to The Real Deal. The purchase was backed by an $18.3 million acquisition loan from Citigroup and brokered by JLL, per Traded. That deal marked Arbor Lodging’s first venture into golf resort ownership, and the company is now marketing the golf course itself as a standalone redevelopment opportunity while retaining the hotel, the spa, the bowling alley, and 39,000 square feet of meeting space.
The resort’s ownership history has been rocky. AllianceBernstein took control of Eaglewood in 2022 to resolve a defaulted $29 million mortgage before selling to Arbor Lodging last year at what appears to have been a loss, the outlet’s reporting shows. No asking price has been set for the golf course, and the Village of Itasca had not commented on the potential sale as of publication, the same report notes.
A Redevelopment Pitch Built Around Master-Planned Homes
The pitch to prospective buyers centers on the idea that a subdivision of single-family homes could use the surrounding resort as a built-in lifestyle amenity. Any such redevelopment would still be subject to review by the Village of Itasca before ground could break, and whatever public debate accompanies it over density, traffic, and the loss of open green space, is the biggest unresolved variable hanging over the sale…