Wednesday, May 24, 2000 | 9:20 a.m.
The shuttered El Rancho hotel, an eyesore on the Las Vegas Strip for the past several years, is scheduled to be demolished in 90 to 180 days.
The hotel and 21 acres of land have been purchased by Turnberry Associates.
The $45 million transaction was announced Tuesday by Turnberry principal Jeffrey Soffer.
Soffer said the property, on the north end of the Strip, could be developed into a casino, a nongaming hotel or a venture such as a timeshare operation.
Turnberry is developing the $600 million Turnberry Place, an upscale, high-rise condominium community on land east of the El Rancho.
Soffer said the El Rancho was "a real eyesore for us and we felt it was a good move to buy it."
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