Keweenaw Report Your Source for Local News and Sports
There are several parties interested in possibly purchasing the Keweenaw Mountain Lodge.
Keweenaw County has given three tours of the resort since July and a fourth is expected to take place later this month.
One of those parties is the Adoba Group, who made a presentation at a special meeting of the County Board of Commissioners last week, and the other three have chosen to remain anonymous.
Keweenaw County attorney Charles Miller said the county is holding two non-binding letters of intent, one of those from the Adoba Group, which indicate an interest in purchasing the lodge for $1.5 million–the asking price listed on the county’s website.
The price is subject to negotiation of a definitive purchase and sale agreement.
It is expected that the county will receive one or more additional letters of intent.
A letter of intent is a non-binding expression of interest in negotiating a definitive purchase and sale agreement within a specified time frame and even if an agreement is reached, the purchaser may cancel it.
The County Board of Commissioners will review all of the letters of intent and decide which, if any, the county will sign.
The county will also work with the USDA Rural Development in making the decision.
County Board Chair Don Piche said the Keweenaw Mountain Lodge showed improvement this year–closing the dining area and focusing on the bar and grill, golf and the rooms, which he says did very well.
