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Real Estate - Marina / Restaurant / Banquet Complex
Location Illinois,United States
Asking Price Range $10.0M - $20.0M
Gross Revenues $0
Net Profit / Cash Flow $0
Cash Flow Type Sellers Discretionary Cash
Seller Finance Not Disclosed
Year Established 1983
Number of Employees 10 - 19
Relocatable No
Number of Employees 10 - 19
Real Estate Owned
Description Mineola Marina is located on beautiful Fox Lake in Fox Lake, IL. The property encompasses a total of 16 acres with the marina spanning across approximately 400 feet of prime Chain-O-Lakes lakefront. There are several unique and amazing qualities associated with the Mineola Marina.
The first unique quality is - the location. Mineola is an hour drive from Chicago, Milwaukee, and Rockford. The Chain-O-Lakes and Fox River are ranked among the most popular inland waterways in the United States. This ''Key West of the Midwest'' has 7,100 acres of water, 15 lakes, and 45 miles of river and can accommodate water sports and activities ranging from boating, fishing, skiing, tubing, hunting, and swimming. This has been Chicagoland's playground for over 100 years.
The second unique quality is - the location! Mineola is an historic site that has been known for its beautiful location since the days of Al Capone and prohibition. The views from the Mineola Marina are expansive, as it sits on a hillside! And the property is located in the middle of the Chain-O-Lakes with easy access to the northern lakes as well as the southern lakes and river.
The third unique quality is - again, location! The popularity of the Chain-O-Lakes has led to property being purchased and beautiful homes being built. Therefore pieces of property with acreage and 400 feet of waterfront on the Chain are virtually impossible to find. Also, due to the popularity of lakefront living in the area, the value of waterfront property continues to increase, while other property values have declined in recent months.
REAL ESTATE VALUE ANALYSIS.
Assume:
ú Mid-rise condos / Town homes.
ú Utilize 10 acres, 25 units per acre at 1,500 square feet per unit.
Note: This does not account for the 65 boat slips available with the property. Value of slips could be $50,000 to $65,000 per slip. Contact for more information on Mineola Marina for sale.
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