FOR SALE HOSPITALITY LUTSEN RESORT ON LAKE SUPERIOR 5700 W Highway 61 Lutsen, MN 55612 PRESENTED BY: Frank Jermusek, JD President / Managing Director 952.820.1615 frank.jermusek@svn.com Cameron Peterson Senior Advisor 952.820.1688 cameron.peterson@svn.com Thomas Atchinson Associate Advisor 952.820.1629 tom.atchinson@svn.com All SVN Offices Independently Owned & Operated.
PROPERTY HISTORY LUTSEN RESORT ON LAKE SUPERIOR LUTSEN, MN Property History PROPERTY HISTORY 1885-Charles Axel Nelson ("CAA") establishes homestead that would become known as "Lutsen" 1899-CAA builds house that includes hotel rooms on the second floor 1920-Lobby, dining room, and 30 rooms added to the original Lodge 1928-Cliff House built 1948-Original main Lodge is destroyed by fire 1948-Ski hill opens, making Lutsen the first ski resort in MN 1949-First Lundie-designed lodge is opened 1951-Second fire destroys main Lodge 1952-Second Lundie-designed lodge is opened 1955-Dupont's Mylar Bubble is built over the pool, making it the first of its kind in the world 1964-First chair lift installed on Ullr Mountain 1968-Sea Villa Townhome development is started 1977-First Alpine Slide in MN opens at Lutsen Mountain 1988-Lutsen Resort is sold to current owners 1993-2000 - Lakeside log cabins are developed 2003-Poplar River Condos open 2005-Cliff House Townhomes are developed 2
EXECUTIVE SUMMARY Executive Summary PROPERTY SUMMARY PROPERTY OVERVIEW SALE PRICE: $8,500,000 ACRES: 50.0 Acres Lutsen Resort is a profitable resort with an unparalleled history. Founded in 1885, Lutsen Resort was named Best North Shore Resort by Star Tribune and Most Romantic Resort by Minnesota Monthly Magazine. The property sleeps 700 guests with a variety of accommodations. The resort offers a variety of activities and includes amenities such as 2 swimming pools, a spa, restaurants, and ballroom. PROPERTY HIGHLIGHTS Historic Property Founded in 1885 - Frontage on the popular North Shore of Lake Superior and the Poplar River SLEEPS: 700 Guests Named Best North Shore Resort by Star Tribune and Most Romantic Resort by Minnesota Monthly Magazine Profitable Operation - With year-round operations WEBSITE LutsenResort.com Adjacent to Lutsen Mountains which is quadruple the size of most Great Lakes ski mountains Adjacent To Superior National Golf Course, owned by county, which recently underwent a $4mm renovation to make it a 27 Hole destination golf course 3
MAIN LODGE, CLIFF TOWNHOMES, LODGE HOMES, POPLAR RIVER CONDOMINIUMS 4
SEA VILLAS SITE PLAN 5
AWARDS & ACCOLADES Awards & Accolades 6
ADDITIONAL PHOTOS Additional Photos 7
REGIONAL HIGHLIGHTS Regional Highlights 8
LOCATION SUMMARY Location Summary LOCATION DESCRIPTION Lutsen Resort is a Minnesota resort located just 90 minutes northeast of Duluth along Lake Superior's North Shore on Highway 61. A little more than 4 hours from the Twin Cities, it's an easy drive. Interstate 35W north out of Minneapolis takes you all the way through Duluth to Highway 61. Follow Hwy 61 north to the resort (approx. 90 miles). If you are flying, the nearest commercial airport is located in Duluth. From there, it is a quick two hour drive up Highway 61. Grand Marais, located 30 minutes away, has a small airport that accommodates private aircraft. However you get there, Lutsen is one of the premier vacation destinations in the Midwest. Situated along one of the most scenic stretches of Lake Superior, it is a rare retreat that provides much needed rest and relaxation year-round, offering plenty of attractions and activities no matter the season. You can enjoy Lake Superior (the world s largest freshwater lake), visit Minnesota s tallest mountain peaks and highest waterfall, ski the largest ski resort in the Midwest and enjoy its longest and most scenic biking trails. (Source: www.lutsen.com) Those who live for the slopes will be happy to know that Lutsen is quadruple the size of most Great Lakes ski resorts. With four peaks, more than 1,000 acres, a nearly 900-foot vertical drop, 90 runs, and the region s only gondola, there is little Lutsen does not have to offer the avid or hobby skier. The area also gets rave reviews for its spectacular views of Lake Superior, from virtually anywhere on the mountain. Located along four separate peaks of the Sawtooth Mountain range - Moose Mountain, Eagle Mountain, Ullr Mountain and Mystery Mountain - Lutsen offers long New England-like trails on 1000 acres of skiable terrain, in addition to more than 450 miles of snowmobile trails and the largest alpine skiing and snowboarding park in the Midwest. But don't think the fun is limited to winter months. Whether kayaking in the summer, enjoying the miles of beautiful hiking and biking trails, or taking in the vibrant palates of reds, oranges, and yellows of the fall leaves, Lutsen is a can't-miss destination 365 days of the year, and offers something for everyone. 9
AREA HIGHLIGHTS Area Highlights 10
LOCATION MAPS Location Maps 11
LOCATION MAPS Location Maps 12
PRESENTED BY: FRANK JERMUSEK, JD President / Managing Director 952.820.1615 frank.jermusek@svn.com CAMERON PETERSON Senior Advisor 952.820.1688 cameron.peterson@svn.com THOMAS ATCHINSON Associate Advisor 952.820.1629 tom.atchinson@svn.com All SVN Offices Independently Owned & Operated 2014 All Right Reserved www.svn.com