Gillian's Wonderland Pier closing after weekend, ending an era in Ocean City

It's been a beloved Ocean City, New Jersey, institution for 94 years, but this weekend, Gillian's Wonderland Pier will close for good.

"Our kids grew up here. All of them came to the Wonderland Pier, a lot of memories here," said Don Bercowetz, who has been vacationing in Ocean City for decades.

Whether it's a ride on the Ferris wheel towering over the boardwalk, the log flume, or a wacky worm roller coaster, Gillian's has been putting a smile on children's faces for generations.

"My own childhood, my children, and my grandchildren, so it's just all kind of ending," Linda Rihl said.

After years of financial troubles, Jay Gillian, the owner of Gillian's and the mayor of Ocean City, announced in August the amusement pier will close for good saying it's no longer a viable business.

While the landmark's future is still unclear , Councilmember Jody Levchuk said he would like the rides and games to stay in that location.

"I would love to see a vibrant amusement park at the bookend of the OC boardwalk and continue to make Ocean City what it is today, a family amusement tourist attraction," Levchuk said.

Eustace Mita owns the property. His company, ICONA Resorts, has hotels in Avalon. Cape May and Diamond Beach.

On Friday, Mita told CBS News Philadelphia, "On Monday, the sun sets on Wonderland Pier. We are halfway through our plan for the property. We are very enthusiastic and believe Ocean City will be too."

For now, Don Bercowetz is cherishing his memories with his family and looking for one last thrill this weekend.

"It's sad, but my wife and I are going to go on the Ferris wheel for old time's sake," he said.

The 6th Street Pizza and Grill will also be closing down.

If you want one final thrill at the pier, it will be open Friday from 6-9 p.m., Saturday from 2-8 p.m. and Sunday, the final day, from 1-6 p.m.