$40 million for ‘Wild Heart of Saugatuck’ again

By: 
Scott Sullivan
Sotheby’s relisting, made public last week, includes the beach house and makes clear the land can still be developed. The firm, which specializes in luxury properties, describes 3574 Dugout Road as a “private retreat or water-front investment opportunity in highly sought-after lake-front village of Saugatuck. The website listing includes sweeping aerial views of the 314 acres. “Live in your own sanctuary or develop as beachfront and marina resort,” it says.”

“The Wild Heart of Saugatuck” is for sale for $40 million. Again.

The March 2 death of Aubrey McClendon—who listed his 314 Saugatuck Township acres fronting Lake Michigan for that price in 2013, then withdrew it—spurred speculation about the much-discussed parcel’s future.

The Oklahoma energy magnate was killed in a single car crash less than a day after being indicted by the U.S. Justice Department for allegedly rigging bids on oil and natural gas leases in his home state.

Police said McClendon, 56, “drove straight into” an overpass wall at high speed. “There was plenty of opportunity for him to correct and get back on the road,” said Oklahoma City Police Capt. Paco Balderrama. “But that didn’t happen.”

Steve Neumer, project manager for McClendon’s Singapore Dunes development firm, said March 7 the parcel north of the Kalamazoo River channel remained unlisted. “Nothing is determined,” he said, “at this time.”

“We’d discussed listing the 18 home lots nearest Lake Michigan with Sotheby’s (International Realty) last winter,” Singapore Dunes attorney James Bruinsma told The Commercial Record Monday.

“The family’s objective now is to sell the entire parcel,” Bruinsma said.

For full story, pick up a copy of the April 7 Commercial Record or subscribe to the e-edition.

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