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Dollar Bay, Houghton County, MI - Lakeshore Estates Development
Why Buy This Property
This offering is extremely rare and final opportunity to buy these secluded, lakefront, wooded acres on Torch Lake at Lakeshore Estates. Whether you are searching for one or more lakefront homesites, wooded homesites or acreage either to develop, or build your year-round retreat, this is the time to buy.
Paved county road through the development is maintained year around
10 miles from Houghton
Torch Bay connects to Portage Lake and to Lake Superior.
The property is located on the northeast side of a kidney-shaped peninsula accessible through the Village of Dollar Bay. Portage and Torch Lakes surround the peninsula.
Waterfront Wooded Land
Torch Lake
Electric and phone available at the street along the county road portion of Nightingale Drive
No association fees
School District Dollar Bay Tamarack Area Schools
Description
LAKESHORE ESTATES:
Spectacularly secluded yet conveniently located, Lakeshore Estates offers a coveted location in the heart of the Upper Peninsula’s Portage – Torch Lake. If you are seeking a little elbow room, this is it! As a Lakeshore Estates owner, your backyard features all of the summer and winter activities and services of the historic Keweenaw Peninsula. A prestigious, sustainable lifestyle, offering the discerning buyer an opportunity to live the Up North dream with some parcels along a paved year-round road with electric and telephone available at the street and there are no association fees.
KEWEENAW PENINSULA:
The Keweenaw Peninsula is “Up North” in Michigan’s Upper Peninsula, the wilderness is literally at your door in this four-season scenic wonderland where outdoor enthusiasts will unwind, while being mesmerized by the star-filled skies, soaring pines, numerous lakes and streams to be shared with abundant wildlife, fish and bird population. Michigan’s northernmost cities of Houghton and Hancock are homes to Michigan Technological University, Finlandia University and the gateway to Isle Royale National Park, an island 70 miles out on Lake Superior. Local activities include downhill and cross-country skiing, 233 miles of snowmobile trails, fishing, boating and easy access to Lake Superior through Portage Lake. The Houghton County Memorial Airport offers daily service on United Airlines to Chicago.
LOCATION:
Lakeshore Estates is located on the southeast shore of a kidney-shaped peninsula surrounded by Torch Lake. Land access is from the Village of Dollar Bay via Upper Point Mills Road to Nightingale Drive. Nightingale Drive is a paved county-maintained year-round road that winds through a portion of Lakeshore Estates. The property is easily accessible from Houghton / Hancock which are approximately 10 miles away.
SELLER'S DISCLOSURE:
One of the shareholders in the Corporation that owns and is selling Lakeshore Estates hereby discloses that he is a Licensed Michigan Real Estate Broker.
Property Location
Auction / Date / Time
October 24, 2019Property Video
Offering Strategy
MINIMUM BID AUCTION! - These properties will be sold subject to the Terms of Sale and the published minimum bids. Bidders can bid for individual tracts, any combination of tracts or the entirety. This is a sealed bid auction event. Bidders are encouraged to ask questions in advance. The purchase of a Bidder's Information Packet and a cashier's check or wire-transferred funds to the Title Company listed in the Purchase and Sale Contract advance of bidding. See Bidder's Information Packet for more details.
| Auction Tract | Estimated Acreage | Estimated Lake Frontage | Minimum Bid |
| A | 89 | 3,025 ft | $225,000 |
| B | 112 | 3,512 ft |
$245,000 |
| C | 100 | 1,384 ft | $225,000 |
| D | 85 | 1,317 ft | $195,000 |
| E | 1.14 | 135 ft | $13,500 |
| F | 258 | 3,002 ft | $270,000 |
| G | 337 | 2,792 ft | $198,000 |
Inspection Dates
The property is available for inspection at 10:30 AM on September 14, 21 and 28 and October 5
Please call 312-852-8523 Extension 101 at least 24 hours in advance so that we know to expect you. Thank you.
Auction Location
Sealed Bid Auction- Bids are to be delivered to Michael A. Fine, CCIM c/o Fine & Company LLC, 899 Skokie Blvd., Suite 100, Northbrook, IL 60015 for due on or before 2:00 p.m. ET on the auction October 24. For bidding requirements see the Terms of Sale and the Purchase and Sale Contract included in the Bidder's Information Packet.
Details
Certified Funds To Bid : See Offering Memorandum or Bidder's Information Packet
Buyer's Premium (Buyer's Fee) : 8% of the high bid price
Contact Us
Fine & Company LLC
Michael A.Fine, CCIM, CAI, AARE
Illinois, United States
312-852-8523
michael@fineandcompany.com
Other Information
Broker Participation : Buyer's Agent participation is invited!
A 2% referral fee will be paid to the REALTOR®/Broker whose registered buyer closes on this property. Please refer to the Buyer Broker registration requirements in the Terms of Sale. Seller has provided a variable commission rate.
Licensing : Fine & Company LLC licensed Michigan Real Estate Broker 6502420596
Terms Of Sale : This auction is being conducted subject to the Terms of Sale and Purchase and Sales Agreement contained in the Bidder's Information Packet.
Disclaimer : The Seller, Broker, and Auctioneer and their agents assume no liability for inaccuracies, errors, or omissions in the auction marketing materials, including the Bidder's Information Packet. All square footage, dimensions, real estate taxes, and common area fees, if any, are approximate. All materials are subject to inspection and verification by all parties relying on them. This offering is subject to prior sale and may be withdrawn, modified, or cancelled without notice at any time. This is not a solicitation or offering to residents of any state where this offering is prohibited by law.
We are pledged to the letter and spirit of U.S. policy for the achievement of equal housing opportunity throughout the nation. We encourage and support an affirmative advertising and marketing program in which there are no barriers to obtaining housing because of race, color, religion, sex, handicap status, familial status or national origin or any other classes under state or local law or intention to make any such preference, limitation, or discrimination.