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Hawthorne Race Course will likely have to close after a buyer who wants to use the site for other purposes turned out to be the only qualified bidder in bankruptcy — but track and horse operators hope to keep racing alive for now.

The track in west suburban Stickney filed for bankruptcy in February, facing debts of more than $100 million. Last month, a Delaware-based company identified only as Allimac 2023 LLC offered $90 million to buy the site’s 119 acres, court records showed.

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The second race at Hawthorne Race Course in Stickney on July 3, 1924, was won by Arrowhead, who “came with a rush on the outside, and just got up. Top o’ the Morning was caught in the barrier and ran a winning race. Simplicity quit.” The three-quarter-mile race had a purse of $1,000. Arrowhead came in first, Top o' the Morning second and Simplicity third. (Chicago Herald and Examiner)
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The offer was a “stalking horse” bid, which in bankruptcy court sets the floor for the minimum purchase price. But when Tuesday’s deadline came for an auction, there were no other qualified bidders, making Allimac the only buyer.

To go through, the sale would have to be approved by Bankruptcy Judge Timothy Barnes at a hearing scheduled for Monday. Hawthorne has thoroughbred racing scheduled for every Sunday until November, and officials expect to race at least the next two Sundays before any sale is completed. Entries were drawn Wednesday to field 11 races this Sunday.

The Illinois Thoroughbred Horsemen’s Association sent a text to its members stating, “Hawthorne Race Course has been sold to a non-racing entity. At this time, all training and racing will continue as scheduled until further notice.”

Association President Chris Block told the Tribune, “This is a devastating and tragic day for horse racing in northern Illinois. We always held out hope that a racino would be constructed and the industry would be saved, but that hasn’t happened, and unfortunately, the worst-case scenario has happened.”

The horsemen filed a request in court for Hawthorne to receive $1,125,000 from a state horse racing purse fund to continue short-term operations, and to make sure that money doesn’t disappear.

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Hawthorne President and CEO Tim Carey issued a statement thanking everyone who worked with Hawthorne to keep racing alive during 117 years of family ownership.

“The outcome of the bidding process is not what we wanted, nor is it what this industry deserves,” he said. “Nevertheless, we are continuing to actively explore options to ease this transition that will affect so many people.”

“We know too well how this will have ramifications across the entire State, from farms to restaurants and bars, to the backstretch at the track where hundreds of horsemen and their families currently live.

“To the horsemen, bettors and our employees, please know that we never gave up, and in fact continue to seek a path forward for Illinois racing,” he said.

The track’s bankruptcy was years in the making. After decades of declining interest and betting on horse racing, in 2019, state lawmakers authorized tracks to build combined race tracks and casinos to form “racinos,” which was meant to flood the industry with money to compete with massive expansions in other casinos and video gambling.

But Churchill Downs Inc. instead closed Arlington International Racecourse in 2021. Hawthorne, despite years of assurances from Carey, never got financing to open a racino. Hawthorne also had exclusive rights to open a racino in the south suburbs, but that deal also fell through.

Recently, Hawthorne notified the state it would have to lay off up to 290 workers if racing operations didn’t continue. Track officials also filed accusations in court that Illinois Department of Agriculture Director Jerry Costello II improperly diverted funding from Hawthorne to go instead to Fairmount Park Casino & Racing, represented by the director’s brother, John Costello. John Costello denied the allegations and said they would be fought in court.

If Hawthorne closes, it would end horse racing in the Chicago area. Founded in 1891, Hawthorne, owned by the Carey family, is the oldest racetrack in Illinois. About 450 people live on Hawthorne’s back stretch, including workers who take care of some 500 horses, and the workers’ families. Fairmount Park in downstate Collinsville, outside of St. Louis, would be the only remaining parimutuel betting track.

Developers have proposed building a new harness racing track in downstate Decatur, but lawmakers failed to act on the plan.