PHOENIX-A locally based resort developer, ILX Resorts Inc., is acquiring the leasehold rights to a 44-acre site just off the Las Vegas strip in Nevada.The company is interested in building a mixed-use development on the site that could include a hotel, time-share units, restaurants, a golf course and other facilities, says ILX Chairman Joe Martori.The agreement gives ILX Resorts up to six months to obtain financing for its project. The company would also have to extend the existing lease to 50 years and get the project through planning and zoning approval.The property is east of the MGM Grand Hotel on Tropicana Avenue. It’s currently occupied by the Las Vegas International Golf Center, a driving range.ILX Resorts primarily develops, operates and markets vacation-ownership resorts in Arizona, Colorado, Indiana and Mexico.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.