Duck Point

[JimL]

I saw today that Duck Point resort is for sale for $2.5 million. We couldn’t make it up this year due to some health issues for my fishing buddy/dad so it really feels like the end of an era for me. This is the first year I have not been up since I was using a zebco push button as a little kid.

I have to say that I am saddened, but not surprised by the listing of the resort. Every year I assumed to see this happen and every year was shocked it didn’t. I spent a week up there every summer for at least 18 or 19 years (I went back to do the math, but stopped counting), but as every year passed you could see the quality of the facilities decline and every year less and less other people staying at the resort. I think last year we were the only people there in mid June. We chose to overlook the decline in the accommodations and lack of hospitality the last years because we loved that lake and the memories we had there. We only continued to go every year because of the fishing quality on the lake, lack of boat traffic compared to other area lakes, and I guess because after that many years it just felt right being there in spite of everything. Duck Point was like a lifelong friend, you know the kind, sort of a pain that sometimes causes you grief, but in the end you can’t help but love them for what they are. We often laughed as we said who else would put up with this place and actually pay to stay here besides us.

It wasn’t always like that. When we first went up there it was actually always full of guests and very nice, but as time went on and some of the Hipler’s passed away it really started heading south. Myself and so many members of my family have some great memories from the Tomahawk area thanks to Duck Point, so I have to say thanks for the memories. I hope that someone can buy it and clean it up and return it to a great little Northwoods resort. It is going to take a lot of work and a heck of a lot of money, but I hope someone can take on the challenge so another generation can have some great experiences on that lake. I would hate to see it go the route of so many other Ma and Pa resorts and end up being turned into condos and sold off piece by piece. That happens way too often and it makes me sad.

Thanks for the memories Hipler Family and Duck Point Resort.

Which now leads me to the questions since I won’t be up there to ask them……How has the fishing been on the Jersey Flowage this year? Are there more of those massive amounts of strange weeds that showed up last year? Does anyone think that someone will buy the resort or will it be split up and sold off?

Thanks.

[bunczak]

Certainly not for $2,500,000. It would probably take about $1,000,000 downpayment to finance that in the current lending climate and the interest on the balance would be $90,000 per year at 6%-which is pretty hefty considering all other expenses and property taxes would need to be paid also. The place probably needs an additional $1,000,000 invested to make it nice again. This means the buyer would need a lot more cash to inject into improvements. If you had that kind of cash, you would probably just buy some bonds paying 4% or so and not work so hard.

However, waterfront lots on the Jersey are not that expensive and so it is unlikely to get condoed. It most likely will get split up and sold as waterfront lots- the cottages will get demolished or fixed up and used again. However, the final selling prices will be sharply less than $2,500,000.

To give you an idea, the Bayview resort on Little St. Germain lake is being divided up and sold. The cottages are much nicer than those of Duck Point and they are on a MUCH more expensive lake. They are asking $150-$160K for most of them and none have sold. The total asking price for that entire resort is about $1,000,000 and again NONE have sold.

So, if they are going to stay anywhere near their $2,500,000 price, the Duck Point resort will remain for quite some time- just like it is.

[JimL]

Thanks for the info. I thought the price was high and estimated that the place needs TONS of money poured into it.

[bunczak]

To give you an idea, I just ran across a sale of a resort on the Phillips Chain. I have not done the research to tell what the quality of the frontage was, etc, but it had run down cabins like Duck Point. It brought $499,000 after being on the market quite a while. It was bought by a developer to tear down the cabins and sell lots. The sale occurred in 2009, and so far no lots have been sold.

[JimL]

Thanks again. The real estate market is terrible everywhere. I wonder if it will ever sell.

[Mike Kanaval]

How big in the lot? 2.5m seems very steep for that unless I'm missing something.. Stayed there a few years ago, we enjoyed the peace & quiet but I don't recall seeing anyone else at the resort. Cabin was clean, but sure could use a facelift.

If she goes for under $800 I would be surprised, anything over 1m and I would expect a sold sign in the driveway.

[JimL]

The listing says 120 acres with 2000 feet of frontage. They have some RV spots off the main entrance. They also have some forested, swampy, boggy land that is part of the property too I believe.