By Jacob Wheeler
Sun editor
The narrative surrounding Leelanau County’s troubled Sugar Loaf resort seemed to surface last month, when current owner Kate Wickstrom went public after years of silence to discuss her role and the enigmatic Las Vegas businessman Liko Smith’s much publicized attempts to acquire the long-shuttered ski resort.
But since then the storyline has plunged once more into the murky depths. Wickstrom confirmed to the Glen Arbor Sun that two buyers are interested in Sugar Loaf — one of which may partner with Liko Smith (the boxer-turned-businessman temporarily placed a copy of the deal offered to Wickstrom on his personal blog, perhaps in an effort to stonewall her in the public eye).
Wickstrom said that a different buyer, whose identity she wouldn’t disclose, emerged in May, and she and attorney Joe Quandt currently favor that bid.
“We’re looking at being able to close by the end of the month,” said Wickstrom. “The guy’s not interested in putting a city out there. He’s geared more toward the kids and family. He had been interested in the area, and followed the blogs and news (about Liko Smith), and then he contacted me about two months ago.”
Wickstrom disclosed only that the phantom buyer is from Michigan, that he vacations in the area, and that his offer is not dissimilar from that of Liko Smith and his business partner.
One has to wonder — given the twists and turns the Sugar Loaf saga has taken since the resort closed 10 years ago — whether the preferred buyer is real, or is it just a ploy to force Liko Smith’s hand, of which Wickstrom has grown wary since he emerged this spring.
As always, stay tuned!
Who cares what Kate Wickstrom has to say about the property, we know she’s ‘bust’ why not show if the airport with private jet service is properly insured by *ahem* Ms. Wickstrom. You could probably just ask the Federal Aviation Administration if she is required to insure the airport for private jet service, but hey – that would be real reporting. Jacob, step up, check sources.
Oh yes, the bidding war (“hearsay”) of phantom buyers for a worthless property well publicized by the *ahem* owner. Anyone get a look at the last phantom buyer’s financial statement before they ran front page on the Sugar Loaf Buyer?
Kate, you’re full of it. Why don’t you just auction the toilets, door-knobs, beds and light fixtures.
Reporters, why don’t you do your community a real favor and do some real reporting, like mortgage defaults and foreclosures of real people. Cut the phantom buyer shit. Yeah, the Sultan of Brunei is waiting in the wings ready to sprinkle money like pixy dust all over Kate Wickstrom. (who might be a fine person, I don’t know her), nothing personal Kate but you’re in the *owner* spotlight.
More like Phantom Owners.
Perez Hilton does better.
But since he’s not here, Jacob, why don’t you try making some calls to more official sources of information like the FDIC, is the mortgage being serviced, what other debts does the *owner* have on the public register, the bank that holds this alleged mortgage, what are they carrying it on their books for, what does that bank do to insure the public against harm from a non-performing asset and bla-bla-bla.
Who’s the regional authority responsible for this banking mess?
Here’s my offer for Sugar Loaf, $1.00 (do you take food stamps?), if not I can offer you the mac-n-cheese equivalent.
(contingent upon you paying all the bills for the next five years)
Front Page News, Woo-Hoo, broke blogger offers One Dollar for Sugar Loaf Resort in bidding contest with ‘the phantom owner’. Hell Kate, have some fun, put it on ebay. Oh, that’s right, it’s probably worth-less than the mortgage so it aint gonna sell.
Like every broke-owner, there is always ‘phantom buyers’ while the U-Hall Truck is parked in the front yard with the furniture, the bills are in the mailbox and the bank is at the door.
Hey phantom owner, your price is delusional.
And Kate stop being the Sock-Puppet.
There are some real (“HOME”) owners, with real properties hurting in this community this side-show is less interesting than real reporting on what is going on in the community with increased foreclosures on real people with real families. Report that.
wow, thanks phantom blogger. you really blew that our of perspective. i believe you managed to completely misinterpret the article’s intention— but good rant.