Superior Shores Resort is situated on approximately 30 acres on Lake Superior just north of Two Harbors, MN. Existing facilities consist of a lodge with condotel units and hotel suites, a conference center, restaurant, lounge and indoor pool on the north shore of the site. On the south shore, which forms what is known as Burlington Bay, existing facilities include upscale condominium units and an indoor pool. Additional uses approved, but not yet built, for the Burlington Bay site includes 104 additional condos, 70 room hotel with indoor water park, conference center, theater complex, health spa and retail. The “Burlington Bay Lakehomes” afford whole and fractional condominium ownership opportunities. Building one, with sixteen units, is complete. The pool building, also complete, includes an indoor pool and indoor/outdoor hot tubs and sauna and features three, five bedroom executive condominiums. Building two, with twenty new units, was placed in service in May 2008. Also included, are the Visitor Information Center and Gift Shop located in downtown Two Harbors As many as sixty-eight additional condominium units can be built on the site in addition to the other afore described facilities. Tunnels and skyways connect each building for guest comfort and convenience. There are two condo owners associations associated with the resort. The first operates in connection with Superior Shores Lodge and the second in connection with the Burlington Bay Lakehomes. A unique feature underpinning the development financial structure of the Burlington Bay portion of the resort is in-place Tax Increment Financing (TIF) for installation of utilities infrastructure. The attendant TIF rebates come back to the resort owner/developer irrespective of who owns the condominium units. Given the resort’s spectacular setting on Lake Superior and the vision for attractions and amenities it offers, Superior Shores has become Minnesota destination and with the resources of a national group, can soon become a Midwest destination. Sales Info: ■ Commision split: 2.25% Location Description: On the shores of Lake Superior, Two Harbors is only 30 minutes north of Duluth and a mere 2.5 hours from the Twin Cities of Minneapolis/St Paul. Highlights: ■ 104 Key Lodge, Conference Center: Restaurant & Bar, Pool, Lake Townhome Units & More ■ Hotel-Resort Business Throws Off $1.4mm in EBITDA ■ 80 Key Condominiums and Executive Suites: Private In/Outdoor Hot Tub & More ■ $22mm in Available Condo Units FOR SALE ■ PUD Land: Future 68 Condo Units, 70 Hotel Units, Indoor Water Park & More ■ TIF District ■ All Units in Rental Pool & RCI Vacation Platform ■ FULL OFFERING PACKAGE AVAILABLE « show less
Superior Shores Resort is situated on approximately 30 acres on Lake Superior just north of Two Harbors, MN. Existing facilities consist of a... show more »
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