Dilapidated Island For Sale in Illinois’ Chain O’ Lakes

The dream of owning an island fell into the price range of a studio apartment in Illinois’ Chain O’Lakes.

A 1.2-acre island on Grass Lake, just west of the legendary Blarney Island bar, is on the market for $200,000, roughly 75 miles northwest of Chicago.

The catch? It’s mostly underwater.

The privately owned island was once home to the Horse Shu Road and Gun Club, the Daily Herald reported. The Chain O’Lakes is one of the largest contiguous recreational waterway systems in the country, with 15 lakes, 45 miles of river and more than 28,000 acres of boatable area.

Property values in the region are rising. In Lake County, the median home sale price was up 8.4 percent year-over-year in May, according to Redfin. But this listing, located near Antioch, is drawing attention for other reasons.

It includes crumbling structures and a seawall in disrepair. Online listings show the property has “established electricity,” but its utilities condition is unknown. It also lies entirely below the base flood elevation and is likely regulated as wetland by the Army Corps of Engineers and zoned by Lake County. The jurisdiction overlap means a buyer would need to impress local planners, the U.S. government and possibly Poseidon to get anything approved.

“For the right buyer, it’s a gold mine,” said Redfin listing agent Brett Larson. He added: “You have to do your due diligence.”

The listing went viral.

“Pull the cork and let it sink,” one Facebook user commented on the listing. “Case a bud light and a high five — final offer,” another user wrote on Instagram.

The property comprises six parcels and has passed through multiple hands since the early 20th century, when it hosted Chicagoans in houseboats and attracted tourists for its lotus blossoms. Three related Chicago families used the island and operated private clubs in three cottages for years, the outlet reported. Today, the flowers are gone, due to dams artificially raising the water level, boat traffic and pollution.

The seller, Kim Renner, bought the island for $50,000 in 2020 with hopes of building a bed and breakfast but is now moving out of state.

The island’s location has potential. It is steps (or strokes) from Blarney Island, a bar that requires a boat to reach it. If post-pandemic land values and outdoor lifestyle trends persist, the listing might not stay adrift for long.

— Judah Duke