What Would You Pay For An Island In The Upper Peninsula?

Have you ever wanted to get away and by getaway I mean really far away?  If so, I have an Island for you and it will only cost you $580,000.00.  Channel 9 and 10 News in the Upper Peninsula is informing us of the Frying Pan Island that went up for sale last month.  Lake Home Realty associate broker Cindy Anderson who is selling the island stated:

My clients that bought it originally bought it to build their cabins on it. And they just got too busy and life got in the way…They decided now with the real estate market the way it is and social distancing, you can’t get much more distant than buying an island…Frying Pan Island… story has it that gentleman happened upon it and there was a frying pan sitting there, but I had thought because of the shape, you know, because it’s circular and then it’s got a pier that goes out that it’s kind of shaped like a frying pan. So who knows if it’s lore or not

The Island is located at the farthest point east in the U.P. between the mainland and Drummond Island.  The island is approximately 3.5 acres and you will own approximately another 60 to  70 acres of bottomlands.  What are bottomlands, that's a great question, I had never heard of it until I saw this Island for sale?  The definition of bottomland according to Webster is “low-lying land along a watercourse”.  The way Cindy explained it is as follows:

What’s unique about this property is a lot of times when you’re buying real estate on the Great Lakes, you don’t own the bottomlands. You own what’s called the ordinary high watermark. And in this case, there are between 60 and 70 acres of bottomlands that come with…For instance, you know, a marina has to approach the state of Michigan to get a bottomlands lease. So in this case, the one that buys the island wouldn’t have to, and they can have their own little marina, provided the necessary agencies approve it. You could have your own private marina and your own private island

If you are ready to get away from it all and can handle the extremely cold, windy and snowy weather then this might just be the Island for you.

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