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Foreclosure Sale Sept. 24 for Michigan Resort

BELLAIRE, MI-The 4,500-acre Shanty Creek-Shuss Mountain Resort is scheduled for a Sept. 24 foreclosure sale. Go Forward Operating Partnership has defaulted on a $20.4-million mortgage with Comerica Bank.

By Dan Heaton | Updated on September 15, 2004

BELLAIRE, MI-Shanty Creek-Schuss Mountain resort is scheduled to be sold by foreclosure auction on Sept. 24. Go Forward Operating Partnership, headed by Thomas LaVanaway of Charlevoix and former resort CEO Terry Schieber, which owns the northern Lower Michiganresort, has defaulted on a $20.4-million mortgage.

Comerica Bank recently began foreclosure proceedings and set the auction date. Shanty Creek opened in 1962, Schuss Mountain in 1968. They merged in 1986, creating a 4,500-acre property consisting of 47 ski slopes, four 18-hole golf courses, miles of cross-country ski and mountain biking trails and hundreds of rooms. The resort is 30 miles northeast of Traverse City.

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