IRON MOUNTAIN - The master deed for Eagle Island Condominiums on Lake Antoine has been recorded at the Dickinson County Register of Deeds office, announced local architect and developer Mark Blomquist.
This deed clears the way for the sale of the first condo unit that is nearing completion. Documents have also been filed to establish an Island Owners and Condo Owners Associations.
Blomquist purchased the seven acre Lake Antoine island property in 2004.
"I knew it would take a slow, careful effort to develop this landmark property with the scrutiny of so many dedicated public authorities and concerned citizens," he said. "I am proud of the quality the development offers to the future island residents and the Breitung Township tax base."
The development, formerly known as "Bugni" Island on Lake Antoine, now officially establishes a six unit condominium complex in addition to three single family home sites available for immediate development. The construction of the first condo unit began last fall along with the site preparation for a second condo building and community water system.
Blomquist said the first condo unit is expected to be occupied in late April. Construction of the next building along with the completion of the utility extensions to all sites could start when weather permits in the spring.
Dickinson County Register of Deeds confirmed the deed has been filed.
Condo amenities
The six condo units will be included in three duplex buildings on a 3.37 acre parcel with 1,200 feet lake frontage shared by all condo owners. Each condo unit will have three bedrooms and all the major living spaces, including the bedrooms will be on the ground floor level and have lake views.
Blomquist said each condo owner will have their own lakefront recreational area which is a short, level walk from the front of unit lakefront patio doors.
"Each condo unit is designed to have a look and feel of a single family home," he said.
Four condo units remain available for purchase.
"Interested prospective buyers can reserve the unit of there choice by making a fully refundable deposit. Once the reservation agreement is in place, the details of the condo unit including any customized features can be incorporated into a purchase agreement," Blomquist said. "Prospects are encouraged to act now to get the best choice of units, take advantage of pre-construction pricing and incorporate custom features to personalize their unit."
Water system on the island
The island will also be served by an economical and reliable community water-supply system that would eliminate the need to drill individual wells for each home site. The system will also provide central water softening and treatment so individual home and condo owners will not have the expense and inconvenience of installing and maintaining individual systems.
"Because both construction costs and interest rates are at a low point, buyers have an excellent opportunity to get a great value. With real estate values at a low point, buyers can expect this property will increase in value," Blomquist said. "It is also expected lake property will recover faster than other residential property. As soon as a purchase agreement is in place, the buyer can develop their lake front recreational area and start enjoying the lake and property this summer while the condo construction is being completed."
The project has a major emphasis on energy efficient construction and use of quality low maintenance exterior finishes. The buildings will be of Insulated Concrete Form (ICF) construction with high efficiency windows and building systems. The exteriors will incorporate ledge stone near the ground and premium wood siding with a manufacturer-warranted finish.
In addition to the condo units, there are three large single-family home sites on the island, including the east and west points available for immediate construction. Each home site is over an acre with 300 feet to 580 feet of frontage.
Blomquist said a land contract purchase is available on a limited basis and will allow the buyer to develop their lake front recreation areas to use immediately and build a home when the contract is complete.
He added low Breitung Township property taxes will also be a great benefit.
"I think prospective buyers will be pleasantly surprised at the long term living cost value that we can provide with the combination of low property taxes, favorable construction market, low interest rates, quality new maintenance free construction, energy conservation and efficient community facilities," Blomquist said. "Adding in the quality of life benefits of living on one of the nicest sites and lakes in our region that is close to town makes this a once in a lifetime opportunity for buyers."
Those interested in learning more about the property should contact Mark Blomquist at (906) 396-7000.