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The auction of "financially troubled" Lodge at Cedar Creek on Tuesday has been postponed until August as a bank is foreclosing on the property. An Associated Bank attorney says the sheriff's sale will be held in order to pay off a $6 million loan. If there are no bids on the property, the bank will then be free to sell it. Associated Bank pursued foreclosing the business in January in what has been described as a "mutual agreement" with the owners of The Lodge at Cedar Creek. Combined, the hotel and water park have an estimated valued of nearly $17 million, and continues to remain open. Officials involved with the sale believe that they know of several potential bidders. The resort had opened it's doors in June of 2004 and is said to be the largest indoor water park in the northern half of Wisconsin.
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