SVN | NORTHCO REAL ESTATE SERVICES | 5353 WAYZATA BLVD., SUITE 400, MINNEAPOLIS, MN 55416 OFFERING MEMORANDUM
WATERS OFVERMILIONP.O. 80078 WATERS OF VERMILIONROADTOWER, MN 55790
Frank Jermusek, JDPresident / Managing [email protected]
Cameron Peterson, CCIMSenior [email protected]
Edward RuppSenior [email protected]
OFFERING SUMMARY
Sale Price: $1,795,000
Lot Size: 34 Acres
Zoning: RES-9
Location: Brainerd Lakes Area
SVN | Northco is pleased to present for sale the Waters of Vermilion Lake Home Development ("Property"). The Propertyconsists of 41 development lots and community common elements on popular Lake Vermilion in northeastern Minnesota.This sustainable/green lake home community provides maintenance free living, allowing you to enjoy your time in theMinnesota Northwoods without the maintenance concerns associated with ownership.
PROPERTY OVERVIEW
PROPERTY HIGHLIGHTS
• Opportunity Zone investment with 41 "sustainable" lakehome sites with lake views, located on 34 acres with 720 feetof shoreline
• Located next to Fortune Bay Casino and the Wilderness of Fortune Bay Golf Course which is one of the top rated golfcourses in the State of Minnesota, 25 miles from Giants Ridge Golf & Ski Areas, and three and a half hours north of theTwin Cities
• The Property is a conservation development, which means that the building sites are clustered together to preservegreen space and provide more natural areas, along with protecting the environmental features. This creates smallneighborhoods and contributes to the fabric of a community
• Infrastructure is in-place: roads, utilities, water and sewer have been installed
• Numerous community amenities and common elements including a bike and boat club, The Waters Club, trails, twoinland ponds, a private beach, trails, bicycles, kayaks, paddle boats, and a guest cabin
Property Summary
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 2The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 3The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
SALE HIGHLIGHTS• Opportunity Zone Investment with 41 "sustainable" lakehome sites with lake views, located on
34 acres with 720 feet of shoreline
• Located next to Fortune Bay Casino and the Wilderness of Fortune Bay Golf Course which is oneof the top rated golf courses in the State of Minnesota, 25 miles from Giants Ridge Golf & SkiAreas, and three and a half hours north of the Twin Cities
• The Property is a conservation development, which means that the building sites are clusteredtogether to preserve green space and provide more natural areas, along with protecting theenvironmental features. This creates small neighborhoods and contributes to the fabric of acommunity.
• Infrastructure is in-place: roads, utilities, water and sewer have been installed
• Numerous community amenities and common elements including a bike and boat club, TheWaters Club, trails, two inland ponds, a private beach, trails, bicycles, kayaks, paddle boats, anda guest cabin
• The Property is permitted for 24+ boat docks (May Sell)
• All lots are either on the lake or have lake views
• Numerous community amenities and common elements including a bike and boat club, TheWaters Club, trails, two inland ponds, a private beach, trails, bicycles, kayaks, paddle boats, anda guest cabin
• The Property is permitted for 24+ boat docks. There is an opportunity to sell these docks.
• Preferred builders are available
• Association is in-place for "maintenance-free living"
• The Property is minutes to championship golf including The Wilderness at Fortune Bay, whichwas rated the "Best New Upscale Course" by Golf Digest. The Property is also located until 25miles from Giants Ridge Golf and Ski Area.
• Lake Vermilion boasts some of the best fishing in the Northwoods. Lake Vermilion's 40,000acres are home to Walleye, Northern Pike, Muskie and Bass
• With 365 islands, you can explore an island a day on Lake Vermilion
• Numerous trails are available on and around the Property
Sale Highlights
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 4The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
The Corona
Lakesider Pisces
Home Photos/Architectural Drawings
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 5The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
The Property is located on Pike Bay on Lake Vermillion in the heart of Minnesota's Arrowhead Region; a mere 25 miles north ofVirginia, MN, 95 miles north of Duluth, and just 200 miles north of the Twin Cities Metropolitan Area. Pike Bay is thesouthernmost bay of Lake Vermilion, and thus is the closest area of the lake to the Twin Cities.
Lake Vermilion is Minnesota's fifth largest lake with over 1,200 miles of pristine shoreline. It was voted by National Geographicas one of the most scenic lakes in the United States, and it is located between the Superior National Forest and VoyageursNational Park, and is the gateway to the Boundary Waters Canoe Area.
The Twin Cities of Minneapolis-Saint Paul make up the 16th largest MSA in the United States with a population of approximately3,600,000 inhabitants.
LOCATION OVERVIEW
Well known as one of the most scenic lakes in the United States, Lake Vermilion: is located in Minnesota's famed ArrowheadRegion stretches, 37 miles across northeastern Minnesota, encompasses over 40,000 acres, is one of the largest lakes inMinnesota and is navigable in almost any weather thanks to the 365 islands and hundreds of protected bays.
TO FULLY EXPERIENCE ALL THAT NORTHEASTERN MINNESOTA HAS TO OFFER, BASE YOUR VACATION ON LAKE VERMILION:
To the EAST, you will find the city of Ely with many attractions - including the wolf and bear centers - and unique shops, as wellas routes to the North Shore of Lake Superior for an enjoyable day trip.
To the NORTH is Voyageurs National Park, the Boundary Water Canoe Area Wilderness, and the one-of-a-kind experience of theVince Shute Bear Sanctuary. Or you could even take a day trip to Canada!
To the SOUTH and WEST is the Iron Range with mining history and heritage to explore, plus the US Hockey Hall of Fame.
IN EVERY DIRECTION you will find scenic drives, golf courses, hiking trails, fairs and festivals, shopping, dining, and anabundance of wildlife.
Add the attractions found ON LAKE VERMILION, such as the Soudan Underground Mine State Park, the Wildernesschampionship golf course, and the casino at Fortune Bay and a Lake Vermilion vacation will be an experience your family willnever forget!
Source: “ABOUT THE LAKE VERMILION MINNESOTA AREA.” Lake Vermillion, Explore Minnesota,https://www.lakevermilionresorts.com/about
LAKE VERMILLION VACATION AREA
Location Overview
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 6The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Regional Map
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 7The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Location Map
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 8The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
Additional Photos
WATERS OF VERMILION | P.O. 80078 WATERS OF VERMILION ROAD TOWER, MN 55790 SVN | Northco Real Estate Services | Page 9The information presented here is deemed to be accurate, but it has not been independently verified. We make no guarantee, warranty or representation. It is your responsibility to independently confirm accuracy and completeness. All SVN® offices are independently owned and operated.
POPULATION 25 MILES 50 MILES 225 MILES
Total population 32,678 108,984 6,263,382
Median age 48.0 45.9 38.8
Median age (Male) 46.6 44.7 38.0
Median age (Female) 49.0 47.3 39.7
HOUSEHOLDS & INCOME 25 MILES 50 MILES 225 MILES
Total households 15,263 51,190 2,573,116
# of persons per HH 2.1 2.1 2.4
Average HH income $52,083 $50,461 $75,759
Average house value $111,362 $117,314 $253,802
* Demographic data derived from 2010 US Census
Demographics Report
