If you’ve ever dreamed about becoming an innkeeper on a grand scale, make your way to Michigan.

And make sure to pack your snowboots for this utopia—a small, quaint village located in the Mitten State’s Upper Peninsula.

On the market for $3,499,000, this compound of eight historic buildings in the town of Laurium, MI, landed on the market for less than the price of a single mansion in most states.

It has clearly clicked online—it popped up at No. 3 in our list of most popular homes in early November.

Upper Peninsula stand-out

In a village of 2,000 year-round residents, where the median list price sits at an extremely modest $99,000, this multimillion-dollar listing is an anomaly. Yet the listing agent, Nicholas Asplund of Signature Sotheby’s International Realty, has entertained buyer interest from around the country.

“The Keweenaw Peninsula has been getting more and more popular for tourism,” says Asplund.

“A lot of people will fly in from New York to get off the grid,” he says. “It’s renowned nationally for mountain biking.”

He adds that hedge funds and large land trusts are also reaching out about the properties because a lot of people are hedging their bets on global warming.

“There’s access to fresh water and fruit trees,” he says. “That’s not a short-term play. That’s a 10- to 15-year long-term thing.”

Only blocks from Lake Superior, the location is only a 45-minute drive from a ferry to visit Isle Royale National Park, and Michigan Tech is only 12 miles away.

The total size of the eight properties—zoned for both residential and commercial use—comes out at a whopping 35,380 square feet. The spread spans 2.25 acres and 10 parcels.

This includes 40 bedrooms and 33 bathrooms, all operating as vacation rentals. The structures feature updated electrical, HVAC, plumbing, and refreshed kitchens and bathrooms.

The collection of homes is being sold turnkey and fully furnished. A buyer will acquire everything, including paintings, original light fixtures, beds, and custom stained glass. After 30 years, the current owners are moving on.

“They don’t spend anything on marketing,” says Asplund. “They rely on their loyal fan base and word of mouth.”

What’s next for this historic compound?

Michigan’s copper boom is what settled this region, which is directly across the lake from Canada.

In 1906, the owner of the Calumet and Arizona Mining Company commissioned the largest building in this current assemblage, a 13,000-square-foot mansion that now serves as the 12-room Laurium Manor Inn.

A Tiffany-glass fireplace and elephant leather wall coverings are among the luxurious features. The mahogany bed Teddy Roosevelt once slept in even comes with the sale.

Also included with the listing is the brick-exterior, 7,000-square-foot Victorian Hall, across the street, with eight guest suites. Its three-bedroom, two-bathroom carriage house is also a popular rented property.

Yellow House, Keweenaw House, and Grey House are some of the other buildings included in this massive package. All were built between the late 1800s and early 1900s.

“To have a portfolio like this—historic homes in this condition—with the amount of money and detail that went into this” is a rare find, says Asplund.

He sees several potential uses for a savvy buyer. The property could continue as revenue-generating vacation rentals, which would be the path of least resistance.

“The shoo-in would be another couple, like the current owners. Maybe they’re retired or want to leave the corporate world,” says the agent.

Or it could be converted into college housing or used as an assisted living facility. A buyer might not have to wait long to reap the financial rewards.

“The financials for assisted living are great,” says Asplund, noting that the en suite accommodations are already in place. “It could also be high-end graduate student housing for Michigan Tech. They’re trying to grow their campus, and there’s currently a housing shortage.”

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