EXECUTIVE SUMMARY
PBG Reference No.: S128

MINEOLA MARINA / RESTAURANT/ BANQUET COMPLEX

We are pleased to present this business opportunity for your review. Premier Business Group, Ltd. is one of the leading business brokerage firms in the Midwest. We specialize in representing manufacturing, distribution and service companies in the divestiture process. The Seller pays our fees; there is no monetary obligation to prospective purchasers. Premiers' expertise includes assisting in structuring the transaction and financing. We encourage you to make an appointment with the broker listed on this offering to discuss your needs, to obtain further information regarding the company you are inquiring about, and to receive information on other companies that may be of interest.

Mineola Marina is located on beautiful Fox Lake in Fox Lake, IL. The property encompasses a total of 16 acres with the marina spanning across approximately 400 feet of prime Chain-O-Lakes lakefront. There are several unique and amazing qualities associated with the Mineola Marina.

The first unique quality is -- the location. Mineola is an hour drive from Chicago, Milwaukee, and Rockford. The Chain-O-Lakes and Fox River are ranked among the most popular inland waterways in the United States. This “Key West of the Midwest” has 7,100 acres of water, 15 lakes, and 45 miles of river and can accommodate water sports and activities ranging from boating, fishing, skiing, tubing, hunting, and swimming. This has been Chicagoland’s playground for over 100 years.

The second unique quality is -- the location! Mineola is an historic site that has been known for its beautiful location since the days of Al Capone and prohibition. The views from the Mineola Marina are expansive, as it sits on a hillside! And the property is located in the middle of the Chain-O-Lakes with easy access to the northern lakes as well as the southern lakes and river.

The third unique quality is -- again, location! The popularity of the Chain-O-Lakes has led to property being purchased and beautiful homes being built. Therefore pieces of property with acreage and 400 feet of waterfront on the Chain are virtually impossible to find. Also, due to the popularity of lakefront living in the area, the value of waterfront property continues to increase, while other property values have declined in recent months.

REAL ESTATE VALUE ANALYSIS

Assume:

• Mid-rise condos / Town homes
• Utilize 10 acres, 25 units per acre at 1,500 square feet per unit

Note: This does not account for the 65 boat slips available with the property. Value of slips could be $50,000 to $65,000 per slip.

Comments on Pricing:

1. Depending upon the density allowed, the property could be acquired for a low-end estimate of $11,000,000 up to $15,000,000 at the high end.
2. The key issue is that the going rate for a one-acre lakefront lot on the Chain-O-Lakes is $1 million per vacant acre. Over the past several years, quarter-acre lots have sold for $300,000 to $400,000 and half-acre lots have sold for $500,000 plus. The top selling point for Mineola is that it is the only, multi-acre, vacant tract available in the area.
3. Given all of these factors, it is difficult to place a definitive value on Mineola Marina because there is, literally, nothing else like it on the entire Chain-O-Lakes for comparison! This is an extremely unique and valuable piece of property. The Buyer must coordinate with the city, county, Zoning, and Economic Development Departments. It appears at this point that the City is prepared to allow the maximum density for the right type of development.

MARKETING AGENT

Premier Business Group, Ltd.
1130 Lake Cook Road, Suite 210,
Buffalo Grove, IL 60089
847/465-9000

This information is provided for discussion purposes only. No representation is made by Broker as to the accuracy of the information provided or any other information supplied. Broker encourages the Prospect to thoroughly review and independently verify to his own satisfaction that the information provided is substantially representative of the business activity.