Everyone has heard the 3 key factors to owning real estate, location, location, location.  Lake Koronis is over 3,000 acres of surface water within 2 hours of Minneapolis and ½ hour from St. Cloud, the 2 largest populations in Minnesota.  In regular times shoreline on Lake Koronis was selling for upwards of $4,000 per front foot of lakeshore.  Cabins were be bought and torn down for new homes.  This resort was owned by one family for many years with not a lot of change in its style and function.   Seeing the lakeshore values sky rocket, it was platted into 11 lots, each with a cabin.  The plat exists as an exit strategy.  Current standards for a successful resort are better comforts, more activities and higher rates.  A nearby example exists of a successful resort that generates $25,000 per rental per year.  On those standards, a resort is profitable.  The resorts has 965 ft. of Lake Frontage and 9.3 acre which makes it eligible for greater density.  Currently there are 16 rentals in 15 cabins,  15 seasonal RV sites with full hook ups, an in ground pool, store with guest registration, a couple of support buildings and the water front dock system and swimming area.

Unique selling conditions:
The owner can sell on a performance type installment contract given the buyer has the right credit and financial strength.  The plan, calls for a buyer with above a 750 credit score, and $500,000 in cash, of which $200,000 is used as a down payment and $300,000 is escrowed is a bank for capital improvements to the resort.  The installment contract begins with the lowest possible payments.  As cabins are improved, rates and performance are increased the payments gradually increase to amortize the contract.  The needed cabins improvements are primarily cosmetic in nature. The greatest yield in resort improvements are non structural cosmetic improvements.   This plan enchases the performance value of the resort and increases the per unit values of the cabins if the resort was ever subdivided.