Cedar Fair said the two bids it got for the land on which Geauga Lake sat were not high enough.

Cedar Fair Chief Executive Dick Kinzel said he thinks the land is worth more than what the two bids were.

The land is more than 500 acres. Cedar Fair closed Geauga Lake amusement park in 2006 and removed and auctioned off rides. It now only runs the water park Wildwater Kingdom on the site.

A residential developer and a commercial developer have made bids on sections of the land, but Kinzel is "not optimistic" about a deal.

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