Here’s your special Sunday edition of a lakefront update. This time, I’ll update you on the Lake Geneva market involving vacant lakefront and lake access lots. It seems that I’m a bit of a pro on this subject, at least I was according to a story published in 2005. I can’t really remember giving a quote for this story, probably because back in ’05 I was busy selling real estate, instead of writing about it!
Currently we only have 30 vacant lots with lakerights
on the market. I really hope you’re reading my posts, because I don’t want to have to explain what “lakerights” means again. Oh fine, deeded, private access to Geneva lake whether that means access to a simple park or pier, or perhaps a boatslip. Of those 30 vacant lots, only ONE is actually private lake frontage. That lot is listed at $1.695MM, and is located on the bluff of Cedar Point Park in Williams Bay. The cheapest lot with lakerights is $69,900, that’s for a lot in Sunset Hills. Not the greatest location to be honest with you…
The cheapest lot with lakerights in an improved subdivision with municipal water and sewer is a lot that I’m representing in Cedar Point Park. $125k buys you a lot with access to the water. Not a bad deal. Oh, you want a boatslip? The most economical vacant lot with that magical attribute is in Geneva Oaks (North Shore, Linn Township), priced at $595k.
The best deal, bar none is still over at the South Shore Club. On the low end of the spectrum, you can pick up a lot on Forest Hill with not much of a lakeview for $699k, hopefully considerably less actually. You could build there for around $900k, be all in for $1.5MM, and have a home with an easy value of $2.5MM immediately. Search my blog history for “South Shore Club” for more details. If you have to be close to the water, lot 15 is available still, and although the asking price is $1.5MM+, you could pick that prime lot up for closer to $1MM I’d bet. At that price, it’s a steal. What a great development the South Shore Club on Geneva’s South Shore turned out to be.
There you have it. The lakefront vacant lot update. With Winter approaching, now is a great time to pick up one of these vacant parcels and build over the winter and Spring. Next Summer is going to be here sooner than you think.