Superior Shores Resort
Property Details
Sale Price: |
Property Description
SVN | Northco is pleased to present, as exclusive advisor to ownership, the sale of the Superior Shores Resort, the Lakehomes at Superior Shores (partial inventory), Burlington Bay Condominiums (partial inventory), and the adjacent +/-14.84 acres of desirable development land, with an approved PUD, containing +/- 1,250 feet of shoreline on Lake Superior ("Portfolio"). Located in Two Harbors, MN, under 30 miles from the port city of Duluth, the Property consists of a diverse portfolio of real estate with all of the amenities that one would expect of one of the largest resorts in the state.
At the Superior Shores Resort lodge, the portfolio has 39 owned units, comprising two-bedroom condominiums and studio units. The lodge features the luxurious Vue North Restaurant and has numerous other amenities available, and activities provided by the resort.
At Burlington Bay, which is less than one mile from Superior Shores down Highway 61, the owned portfolio includes seven whole and fifteen ⅛ ownership intervals of two-bedroom condominium units, along with three whole three-bedroom condominium units and seven ⅛ intervals of a three-bedroom penthouse condominium unit. Additionally, there are two whole five-bedroom executive suites and seven ⅛ intervals of the third five-bedroom executive suite. The number of units can change before closing as these offerings continue to sell extremely well, with 21 transactions since early January 2024, with a listing break in the middle of the year.
Adjacent to the Burlington Bay Condominiums is a land development opportunity of the eight contiguous parcels of land totaling 14.8 acres with approximately 1,250 feet of Lake Superior shoreline. The land has an approved PUD that includes additional condominium buildings, a hotel with an indoor waterpark/conference center / and other entertainment amenity options.
Owned assets at The Lake Homes at Superior Shores are fractional ownerships of, ⅞ intervals of a two-bedroom unit, ⅛ intervals of a one-bedroom unit, and ⅜ intervals of a three-bedroom unit. Other assets included in the portfolio consist of two five-bedroom houses in town used for staff housing, a six-bay garage serving as a maintenance compound, and various common areas, including the lobby and food and beverage facilities.
Highlights
- Exceptional Lake Superior Hospitality & Real Estate Portfolio in Two Harbors, MN
- The Portfolio includes: the Superior Shores Resort operations and condo units (partial inventory), Burlington Bay Condominiums (partial inventory), The Lake Homes at Superior Shores (partial inventory), and the Lake Superior Shoreline Development Land
- Owned units in the portfolio include 39 units (77 keys) at the Superior Shores Resort Lodge, and several whole and fractional units (including the 5-bedroom executive suites) at Burlington Bay Condominiums and The Lake Homes at Superior Shores.
- The adjacent development opportunity at Burlington Bay features 8 contiguous parcels totaling 14.8 acres and with approximately 1,250 feet of Lake Superior shoreline. The opportunity has an approved PUD
Map
Location Description
Two Harbors, MN is located 25 miles north of Duluth and an easy 2.5-hour drive from the Twin Cities metro. In this quaint town of 3,600 people, available are all the necessities of everyday living, from schools and industry, shopping, and restaurants, to attractions and activities. Moreover, Two Harbors also offers an escape from city life to relax at the forefront of the true beginning of Minnesota’s North Shore.
Lake Superior, the largest and northernmost of North America's Great Lakes, boasts an impressive expanse of over 31,700 square miles. Renowned for its crystal-clear waters, it holds the title of the largest freshwater lake by surface area globally. This majestic body of water, with its rugged shorelines and pristine beaches, plays a crucial role in the regional ecosystem and local economy, supporting diverse wildlife and vibrant communities. The Great Lakes system, comprising Lakes Superior, Michigan, Huron, Erie, and Ontario, forms the largest group of freshwater lakes on Earth by total area and the second-largest by total volume. These interconnected lakes span the U.S.-Canada border, serving as vital waterways for transportation, industry, and recreation. Collectively, they hold about 84% of North America's fresh surface water, underscoring their significance in sustaining both human and natural life across the region.
Distances from larger cities:
Duluth, MN - 27 miles northeast of Duluth
Minneapolis, MN - 187 miles northeast of Minneapolis
Nearby airports include Duluth International Airport (40 miles), Range Regional Airport (88 miles), and Minneapolis-Saint Paul International Airport (187 miles).