A Once-in-a-Generation Waterfront Opportunity
​Rare waterfront compound + operating vacation rental business with expansion potential.

​Welcome to a rare opportunity on Grass Lake and the Chain O’Lakes, a private waterfront retreat with over 600 feet of shoreline, wide open yards, mature trees, fire pits, and a floating pier. With no neighbors to the east, south, or west, this property offers a level of peace, space, and natural beauty that’s increasingly impossible to find. It’s the kind of setting where weekends turn into lifelong memories and guests never want to leave.

This is more than a scenic lakefront escape it is a successful, operating vacation rental property with proven demand and established income. Multiple homes are already functioning as turnkey short-term rentals, allowing a new owner to step in and continue immediately, while also enjoying the flexibility of a personal family compound or long-term investment.

​Even more compelling, the property includes an additional build site with water views, perfect for adding a new rental, guest house, or your dream lake home overlooking Grass Lake. This is a destination-level offering that blends lifestyle, revenue, and future upside into one extraordinary package. Continue reading to explore what makes this property one of the most unique opportunities on the Chain.

Offered at:  $925,000

• 4 Parcels
  • 0134100003  (1.2467 acres)
  • 0134100004  (0.2945 acres)
  • 0134100005  (0.7819 acres)
  • 0134100014  (0.3684 acres)
• 2.7 acres of waterfront property
• 600+ feet of Grass Lake frontage
• 3 houses, 1 garage
• 75' EZ-Dock floating pier  (2 benches & dock box)
• 4 Kayaks, beach loungers & toys
• Cedar Barrel Sauna  (6 person)
• 2 Sand beaches
• Private well with filtration and softener
• Hardwired Cat6  (1 internet account for the property) 
• Established vacation rental business
• Secluded & quiet lakefront setting
  • (west) Marsh  (30+ acre, Village owned)
  • (east) Grass Lake  (1,360 acre lake)
  • (south) Channel  (navigable waterway)

2025 Revenues  |  ​6.56% cap rate

• 2 Houses rented  (Airbnb, VRBO & Direct Booking)
  • #2 Fisher House  (136 nights • 37.3% occupancy)
  • #3 Pelican House  (176 nights • 48.2% occupancy)
• Property Expenses
  
  • $6,900 Utilities  (Trash, Gas, Electric, Internet)
  • $3,996 Insurance  (Property, Flood)
    
  • $9,042 Taxes  (4 parcels)
    
  • ​$2,934 Supplies  (Filters, TP, Soap, Charcoal, Consumables)

Future Expansion (subject to permitting)

• Estimated +10% cap rate with all homes rented
• #4 Cattail House  (not rented, owner occupied)
• #1 Heron House  (garage)
  •  Convert from garage to 1-bed/studio
• 2 Vacant parcels
  • Build additional rental units
  • Build your dream home with lake views
  • Install additional piers

Truly a turnkey opportunity, furnished and operating as a successful two-home vacation rental business. The property includes a cedar barrel sauna, floating pier, and all the amenities guests come for, with more than three years of proven performance, strong revenue, and established systems in place. Backed by hundreds of positive Airbnb reviews, repeat visitor loyalty, and a recognizable brand with a dedicated website and marketing presence, a new owner can step in immediately and continue operating from day one without needing to build the business from scratch.

An Operating Business — Not a Startup

• Fully furnished, ready to operate day one
• Established Airbnb presence with hundreds of reviews
• Repeat guest loyalty and return visitors
• Website + branding already built
• Proven systems for bookings, cleaning, guest experience
• Floating pier for guest vessels and fishing
• Cedar Barrel Sauna (increasing off-peak bookings)
• Kayaks, beach loungers, and water toys

#1 - Heron House

1 Story Garage
     600 sqft

#2 - Fisher House

1 Story House
    3 Bed  |  3/4 Bath  |  1,312 sqft  |  Sleeps up to 8
    $300 per night
        Fully furnished
            (1) King  •  (2) Full  •  (1) Queen sleeper
            Stainless kitchen appliances
            Cookware, glassware & utensils
            Washer/Dryer
            50" LED TV
        Mechanical  (basement, 80 sqft)
            HVAC - gas furnace with central air
            50 gallon - gas water heater

#3 - Pelican House

​2 Story House
    1 Bed  |  3/4 Bath  |  600 sqft  |  Sleeps up to 4
​    $195 per night
​        Fully furnished
            (1) King  •  (1) Queen sleeper
            Cookware, glassware & utensils
            42" LED TV
Ground Floor
    Daylight Basement  |  550 sqft
​        Mechanical
            HVAC - gas furnace
            50 gallon - gas water heater
            Property water filter, iron buster & softener
Ground Floor
    Studio  |  3/4 Bath  |  300 sqft  |  Sleeps up to 2
​        Unfurnished  (bonus - not rented)

#4 - Cattail House

1 Story House
    2 Bed  |  3/4 Bath  |  600 sqft  |  Sleeps up to 4
    Owner occupied (potential $195 per night)
        Unfurnished
        Washer/Dryer
​        Mechanical
            HVAC - gas wall furnace
            On-demand - gas water heater