Lakefront Resort with
For Sale
$724,900
1116 Chicago Point Dr, Pelican Lake, WI 54463
Established resort on nearly 9 acres with 204 ft of level, sandy lake frontage and two piers for waterfront recreation.
Property Size5,290 SF
Days on Market280
Property Features for 1116 Chicago Point Dr
General Information
Standard status
Active
Size
5,290 SF
Property subtype
Commercial
Building Details
Building Size
5,290 SF
Listing Agency:
Eliason Realty - Eagle River
(312) 833-0404
Listed By:
Jack Weppner · License #112850 - 94
(312) 833-0404
Source:
Northwoodswi
Added: Oct 29, 2025
Changed: Jul 30
Last Checked: Aug 3 at 1:40PM
Displayed information is deemed reliable but is not guaranteed and should be independently verified. All listing content including descriptions, pricing, images are the copyrighted material of Eliason Realty - Eagle River
Investment Insights
Based on property information with market context.
This established family resort sits on nearly 9 acres with 204 ft of level, sandy Pelican Lake frontage. The property includes 9 total cabins—2 year-round and 7 seasonal—each with a kitchen and bathroom. Cabin facilities share a well-maintained shower house, and the resort also has a charming owner’s home for comfortable year-round living.
For guest and owner enjoyment, the resort offers lake views, spacious grounds, and two piers providing waterfront access for recreation. The property is fully furnished and presented as ready to enjoy.
Whether operated as a resort business, used as a family compound, or maintained as a private retreat, the configuration supports guest stays with individual cabin accommodations alongside shared shower facilities and dedicated waterfront use.
For guest and owner enjoyment, the resort offers lake views, spacious grounds, and two piers providing waterfront access for recreation. The property is fully furnished and presented as ready to enjoy.
Whether operated as a resort business, used as a family compound, or maintained as a private retreat, the configuration supports guest stays with individual cabin accommodations alongside shared shower facilities and dedicated waterfront use.
Key Highlights
- Nearly 9 acres with 204 ft of level, sandy lake frontage
- 9 total cabins: 2 year‑round and 7 seasonal
- Each cabin includes a kitchen and bathroom
Financial Insights For Hotel Hospitality
Simulate Cap Rate and NOI
NOI Build-Up
- Vacancy
- income lost from leasable area expected to sit empty during the year — subtracted from gross rent.
- EGI (Effective Gross Income)
- gross rent minus vacancy losses — the realistic income before paying operating costs.
- OpEx (Operating Expenses)
- recurring costs to operate the property (property tax, insurance, utilities, maintenance, management) — excludes financing and capital improvements.
- NOI (Net Operating Income)
- income a property generates after operating costs but before financing and taxes.
| Component | $ | $/SF |
|---|---|---|
| Gross rent | $79.4k | $15.00 |
| − Vacancy | −$9.5k | −$1.80 |
| EGI | $69.8k | $13.20 |
| − OpEx | −$36.7k | −$6.93 |
| NOI | $33.2k | $6.27 |
5,290 SF · lease $15.00/SF/yr · vacancy 12.00% · expense 52.50%
Alternative Uses
Best Use
Hotel Hospitality
$473.8K
$414.6K – $552.8K
NOI $33,168 @ 7.0% cap · market cap 4.58%
Second Best
—
—
no second resolved use
Theoretical Best
Industrial
$2.48M
$2.17M – $2.89M
NOI $173,318 @ 7.0% cap · market cap 23.91%
Zoning and permitted uses should be independently verified with authorities.
Property Analytics
Current Use
Location Intelligence
Trade Area within ½ mile
7
Businesses Nearby
Explore this area
Business Placement
Demographics for 54463, WI
714
Population
1,057
Households
0.7
Avg Household Size
60
Median Age
21%
College-Educated
95%
High-School Grad
91.4 sq mi
ZIP Area
8
Density / Sq Mi
$56,765
Median Household Income
$45,833
Median Earnings
$807
Median Rent
$231,500
Median Home Value
Questions? Ask Rey
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Frequently Asked Questions
What type of property is this?
Resort - Established resort on nearly 9 acres with 204 ft of level, sandy lake frontage and two piers for waterfront recreation.
Where is this resort located?
The property is located at 1116 Chicago Point Dr Pelican Lake, WI.
What is the asking price?
The asking price for this property is $724,900.
What are key features of this property?
This property features: Nearly 9 acres with 204 ft of level, sandy lake frontage; 9 total cabins: 2 year‑round and 7 seasonal; Each cabin includes a kitchen and bathroom
