Israel Moe Acquires Historic Chase On The Lake Resort In Leech Lake Area For $5.7M

Local business owner Israel Moe has purchased the historic Chase on the Lake resort in Minnesota's Leech Lake area, along with two adjacent properties, for a total of $5.7 million. The property includes a hotel, condos, a restaurant, marina, and event center. The resort will be updated by Moe to enhance its appeal to both residents and tourists.

Summary of transaction details

• Property Type: Hotel & Land
• Transaction Amount: $5,700,000
• Address: 502 Cleveland Blvd. W. - Chase on the Lake, 500 Cleveland Blvd. W., 310 Fifth St. N, 104 Fifth St. N. & 501 Front St. W.
• Market: Walker, Minnesota

Israel Moe, a local business owner, is the buyer of the properties. The seller is Rialto Capital. Moe plans to update the resort to improve its attractiveness to both residents and tourists, making it a popular destination in the Leech Lake area.