Local Connection Highlights Latest Sugar Loaf Sale

It’s true: the Sugar Loaf Mountain Resort property — which was left dormant for 20 years — was purchased by a private group of investors with a Leland address, Leelanau County Administrator Chet Janik confirms to the Leelanau Ticker.

Real estate advisor Ross Satterwhite told Janik and County Commissioner Patricia Soutas-Little via email that his firm, Iron Bridge Capital, helped the buyer evaluate the property, conduct due diligence and close the purchase. 

Janik says Satterwhite is a resident of Leland, board treasurer for Leland Public School, and board chair for the Leelanau Conservancy with “a proven record with development projects, including the former Courthouse property in Leland.”

Satterwhite emphasizes that he is not the buyer, nor affiliated with the buyer financially, but “will be the point person going forward assisting the buyer in its planning and coordination of demolition activities and related property matters.”

He told Janik that other than the immediate goal of demolishing the hotel and generally cleaning up the site, that he is not aware of what plans his client may have for the property long term.

The buyer is not connected in any way to the previous owner of the property, Sweet Bread LLC, which had plans to develop a new resort at the site.

Satterwhite shared that “as soon as we can get the appropriate plans, bids, permits, etc. in place, demolition of the hotel and a general cleanup of the site can begin.” His firm is ascertaining the scope of work and will be requesting bids. He added that “whatever help the county and surrounding townships can provide to facilitate the cleanup activity will be appreciated.”

He also stated in his email to the county administrator and commissioner: “Unfortunately this property has been left abandoned and has been a blight in the community for far too long, and it will be good for the nearby residents and community in general to have the property back under active ownership.”