Ellsbury Group is pleased to present Indiana Lake Resort, located at 4983 East Indiana Beach Road, Monticello, Indiana. IndianaLake Resort is a fully renovated waterfront extended-stay and resort lodging property situated immediately outside the entrance to Indiana Beach Amusement & Water Park. The property features a total of 55 units: 20 two-story 2-bedroom / 1-bath units, 18 single-story 2-bedroom / 1-bath units, and 17 hotel rooms with kitchens and 1 bath. Additionally, the resort includes 12 completed docks with approvals for up to 36 docks and a 40’ x 60’ maintenance pole barn with a bathroom. Comprehensive capital improvements have been completed, including new paint, siding, porches, kitchens, bathrooms, roofs, doors, and flooring. The sale includes multiple parcels encompassing the full footprint of the resort.
The property is located directly adjacent to Lake Shafer and the entrance to Indiana Beach Amusement & Water Park, providing exceptional access to the area’s primary tourist attractions. Downtown Monticello is 3–5 minutes away, Lake Freeman is 10–15 minutes, Lafayette and West Lafayette / Purdue University are 35–45 minutes, Indianapolis is approximately 90 minutes, and the southern suburbs of Chicago are 2–2.5 hours away. Primary access is via U.S. Route 24, with convenient connections to the I-65 corridor.
Seasonality: Off-season defined as October through April (85% occupancy) and in-season as May through September
(95% occupancy). Year 1 weekly rental rates are projected at $350 for two-bedroom units and $300 for one-bedroom
units. Year 2 weekly rates are projected at $400 for two-bedroom units and $350 for one-bedroom units.
Revenue: Weekly rents are converted using 4.33 weeks per month, with occupancy applied uniformly across all units.
Expense Baseline: Based on the November 2025 operating expense report (see source file). Expense categories are
weighted and scaled to align with the projected expense ratio, with select line items seasonally adjusted, including
utilities, lawn/snow, gas, cleaning, and repairs.