An Illinois firm will purchase a portion of the Heidel House property as part of a redevelopment plan that will lead to a new hotel facility and single-family homes being built on the site.
Under the proposed agreement, Everest Hospitality would purchase approximately 5.5 acres of waterfront property, including the historic Heidel House east building. Green Lake Hotel Group would retain approximately 6.5 acres on the western portion of the current property, where it plans to develop a residential village consisting of single-family homes.
As part of the proposed plan, the existing west building would be removed to allow for the residential village development. Future residences are expected to have access to amenities, including a pool and clubhouse, private boat slips, a fitness center, and preferred access to the hotel restaurants and amenities.
Everest Hospitality plans to replace that lodging capacity with a new hotel condominium building on the eastern portion of the property.
The proposed redevelopment is intended to support continued investment in the Heidel House property while preserving its role as meaningful part of Green Lake. The hotel is expected to remain open during the transition.
“We recognize the Heidel House property holds a special place in the history of Green Lake and in the memories of many residents, visitors, and former guests,” said Mark Franzen of Green Lake Hotel Group. “Our goal is to thoughtfully plan for the property’s next chapter while creating a residential village that complements the lakefront setting and supports continued investment in this important destination.”
According to its website, Everest owns and manages three hotels in Milwaukee and Beloit as well as commercial properties in Madison and Illinois.
Lance Schaefer of Everest Hospitality said, “We understand the importance of Heidel House to the Green Lake community, and we are honored by the opportunity to become the next stewards of this remarkable property.”
The transaction and proposed redevelopment remain subject to applicable governmental review, zoning approvals, and other required processes. Construction is currently anticipated to begin in fall 2026, pending approvals.
