Indian Lake Club (ILC) is in its 122nd year, that's right, this is a leased land community since 1897. The ILC has one master lease for the 21 cottages in the Club that contracts a lease with the land owner. The same land owner has owned the lake property since the 1870s. Must be a cash deal as a mortgage is not possible. The Club has an HOA, by-laws, and a purchase is subject to Club approval. Very historic and friendly social neighborhood. The average ownership of a cottage in the same family is a remarkable 49 years within the ILC! Club lease with land owner and Club by-laws available upon request. Several million-dollar-plus homes built here in the last several years. VERY PRIVATE LOCATION with peaceful winding small paved road leading through the woods to the shore area. Ideal swimming beach. Annual lease approx. $10,300+/- per year, HOA annual approx. $750 with a one time purchase fee of $500.
Listing courtesy of .