I get it. I own a lakefront property and understand your desire to own some shoreline, too. Many people each year contact me about wanting to own lakefront land, and I do my best to assist each one. The first thing I need to do to help you is to ensure you know what is out there, where it is, and how much it will cost.
Location: I am not sure whether you know this or not, but 80% of Wisconsin's lakes are in the northern one-third of the state. With more than 15,000 lakes, Wisconsin has the third-largest concentration of freshwater lakes in the world–only Alaska and Ontario, Canada, have more lakes per square mile than Wisconsin. However, Mother Nature decided to place the majority of Wisconsin's lakes in the northern one-third of the state.
What: Out of all of Wisconsin's lakes, approximately 90% (over 13,000 lakes) are less than 50 acres in size and do not permit all-sport activities. Only 4.5% are larger than 200 acres in size, and only 1.7% are 500 acres or larger. The average depth of a Wisconsin lake is eleven feet. If you are looking for land on a lake, you are competing for about 3% of the available shoreline. The average vacant lake lot, regardless of lake size and location, is about one acre in size and has about one hundred feet of shoreline.
Cost: Back in the October 1998
issue of Wisconsin Natural Resources
magazine, the Wisconsin Department of Natural Resources reported that
more than 97% of Wisconsin’s lakes were fully developed or under public
ownership. Further, they stated that Wisconsin
would be very nearly out of undeveloped lakefront
land by 2018!
Well . . . 2018 has come and gone, and it is now even more critical that you acquire your lakefront land immediately.
Unfortunately, demand has never been higher, and zoning and environmental
regulations make it even more challenging to find affordable lakefront land
every year.
In 2005, The Journal of Real
Estate Finance and Economics reported that the average starting price for one
acre of lakefront land was over $200,000—about $2000 per linear foot of shoreline. Many years have
passed since the study, and thousands of
lakefront properties have sold, making lakefront
land rarer and more expensive. There are lakefront properties that are
considerably less expensive than $200,000, but
nobody is foolish about the value of lakefront land today; if it looks too good
to be true, it probably is. A shallow,
muck-bottom lake with a weedy shoreline will be
advertised at a low price, but it is like anything you buy—“You get what
you pay for.”
Still, there are opportunities out there, so don't give up. I regularly add new properties to this website. Lately, we are focusing on the smaller lakes that offer more privacy, safety, and peace and quiet. Smaller lakes often come at a price that is lower than the state average price.
So, don't hesitate to email or call me if I can be of assistance. It is my pleasure to help you finally own that lakefront land you have always wanted.
