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Lake Michigan & Betsie Lake

17.71 Acres of Commercial Land Offered at $27,640,665 CAD in Elberta, MI 49628

Investment Highlights

  • Fantastic waterfront views
  • Access to both Lake Michigan and Betsie Lake

Executive Summary

Exceptional Lakefront Development Site or Lakeside Sanctuary: Rare 17.71 acre land offering with fantastic views and access to both Lake Michigan and deepwater Betsie Lake along with an extensive list of highly unique site attributes.
Site Plan Approval for Large Scale Mixed Use Development Plan: The Lake Michigan District received approvals for 367 housing units and the Marina District received approvals for 168 housing units and permitting for a 140 slip marina capable of accommodating vessels up to 80’ in length. In addition, either district could include a retail/commercial and hotel/hospitality component.
Development Incentives Available: Part of the subject property was historically used for industrial purposes and has been designated as a Brownfield site by the U.S. Environmental Protection Agency (EPA). The site is eligible for Brownfield Tax Increment Financing to assist in site remediation and preparation. There is no major known contamination on site.

Property Facts

Price $27,640,665 CAD
Sale Type Investment
No. Lots 1
Property Type Land
Property Subtype Commercial
Proposed Use
Multifamily
  • Hospitality
Total Lot Size 17.71 AC

1 Lot Available

Lot

Price $27,640,665 CAD
Price Per AC $1,560,738 CAD
Lot Size 17.71 AC

Exceptional lake front development site or lakeside sanctuary: Rare 17.71 acre land offering fantastic views and access to both Lake Michigan and deepwater Betsie Lake along with an extensive list of highly unique site attributes.

Description

17.71 acre assemblage of prime waterfront property on the eastern shore of Lake Michigan. The site offers 578’ of frontage along Lake Michigan and up to 3,120’ of frontage along the deepwater port channel and Betsie Lake. Opportunity to own both Lake Michigan and inland water access via a well-protected, channelized harbor featuring a large dual breakwater (2,000 – 2,500 lineal feet each), dual stub piers and the historic Frankfort Lighthouse at the end of the north breakwater. Also includes beautiful views from the high dune bluff portion of the property, plus access to white sand beaches that extend for miles. Preliminary site plan approval was obtained in the past for 367 housing units in the Lake Michigan District, 168 housing units in the Marina District, plus permitting (now expired) for a 140 slip marina capable of accommodating vessels up to 80’ in length. In addition, either district could include a retail/commercial and hotel/hospitality component. The current offering is for Lots A and B of the Lake Michigan District. Additional land could be available. Inquire with broker.

PROPERTY TAXES

PROPERTY TAXES

Parcel Numbers
Multiple
  • 06-506-002-00
  • 06-506-016-00
Land Assessment
$0 CAD
Improvements Assessment
$0 CAD
Total Assessment
$1,485,612 CAD

zoning

Zoning Code DD (Currently zoned Waterfront and Lake Bluffs Development DD.)
DD (Currently zoned Waterfront and Lake Bluffs Development DD.)
  • Listing ID: 29829676

  • Date on Market: 2023-10-19

  • Last Updated:

  • Address: Lake Michigan & Betsie Lake, Elberta, MI 49628

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