The Lake-Heim: waterfront 3-unit short-term-rental compound

Description:

The Lake-Heim is a fully operational waterfront cottage compound on Grass Lake, part of the Fox Chain O'Lakes system. Set on roughly 1.1 acres with about 131 feet of private walk-in sand-beach frontage, the property includes three furnished short-term-rental units, a private pier, a covered gazebo, a paver patio with firepit, and outdoor areas designed for lakefront use.

This is not just a rental property and not just a lake house - it is a rare combination of waterfront lifestyle, documented income, and future upside. A buyer can continue the existing short-term-rental operation, occupy one unit and rent the others, use it as a family compound, or explore expansion opportunities such as a fourth cottage or bonus-space conversion, subject to buyer verification and municipal approval.

Seller-provided Airbnb statements show roughly $60,423 in 2025 gross earnings, about 25% year-over-year growth, across approximately 393 booked nights. The property is already producing income, while still leaving room for a hands-on owner or operator to increase occupancy, improve pricing, expand distribution, and further develop the Lake-Heim brand.

All income, expense, occupancy, square-footage, frontage, zoning, STR-permitting and redevelopment figures are seller-provided or estimated and must be independently verified by buyer during due diligence.


Grass Lake is part of the Fox Chain O'Lakes system, one of northern Illinois' best-known recreational lake destinations, located roughly 50-60 miles northwest of Chicago. The Chain offers thousands of acres of connected water and hundreds of miles of shoreline, creating a strong boating, fishing and seasonal-recreation environment.

The Lake-Heim sits directly on Grass Lake with private walk-in sand-beach frontage, lake access, and proximity to several of the Chain's most recognizable destinations, including Blarney Island and Chain O'Lakes State Park.