Historic Michigan Race Track Faces Threat of Closure: Who Will Step Up to Secure Its $15 Million Rescue?
Grattan Raceway Up for Sale: A 190-Acre Motorsports Haven in Western Michigan
Grattan Raceway, a 65-year-old motorsports facility nestled in Western Michigan, has been listed for sale at $15 million. The track, which has been in the same family for its entire history, offers a rich motorsports legacy and a diverse range of facilities.
Co-owner Kurt Faasen, a 72-year-old racing enthusiast, shared stories of celebrities who raced at Grattan Raceway, including Paul Newman, Walter Payton, and Tom Cruise. Faasen, who expressed his desire to continue working despite his age, hopes the raceway will remain a racetrack for years to come.
The property spans 190 acres and includes a 2.0-mile road course with a 3,200-foot straightaway, as well as a 1.25-mile motocross track. The grounds offer full concessions, covered seating for fans, ponds, and a private pool.
Grattan Raceway's prime location, approximately 2.5 hours from Detroit, could make it attractive for real estate development. The property boasts over 4,000 feet of frontage along Muskrat Lake. However, it's important to note that the increase in price from the previous listing to the most recent one is unknown.
The concern for Faasen and racing enthusiasts is the potential development of the property into a housing subdivision. While no recent, high-profile examples of large motorsports facilities being converted into housing subdivisions were found in the sources provided, historically, such conversions are not uncommon, especially for tracks near growing urban areas.
An example of this is Riverside International Raceway in California, which was redeveloped into housing after closing in 1989. Such redevelopments often occur when the motorsports venue loses viability or when development pressure in the surrounding area increases land value for residential use.
If a buyer were to spend near $15 million, they might not make money by hosting private track days and low-key weekly events. However, the potential for residential or mixed-use development could prove lucrative.
As Grattan Raceway remains perpetually for sale, the future of this historic motorsports venue hangs in the balance. Whether it continues as a racetrack or becomes a new residential community, one thing is certain: Grattan Raceway has left an indelible mark on the world of motorsports.
Finance-savvy buyers may consider the potential for residential or mixed-use development at Grattan Raceway, given its prime location and 190-acre land expanse. Yet, the future of the historic motorsports venue, synonymous with car culture and lifestyle, could change drastically, impacting the sports community in western Michigan.
