Fox Lake's 17-acre Mineola Marina and Lounge property for sale again

One of Fox Lake's oldest and grandest buildings is for sale - again.

Mayor Ed Bender said a group of investors, led by boat dealership owner Jack Irvin of Fox Lake, has presented the village board with a development proposal for the 17-acre Mineola Marina and Lounge property.

Developers want to tear down the 125-year-old wood structure and replace it with 200 townhouses, under the proposal unveiled Tuesday night.

Bender said it was a glimpse of the developer's vision for the site, and could change several times before a final version comes to the board for a vote.

"The board felt the density is too much for that area, and they agreed some commercial developments or a hotel would be a nice addition to the townhouses on that land," he said. "But, this is just the planning stages and we'll see what happens when this starts to shake out a little."

Developers will first meet with building department officials to flesh out the details, and then with the village planning board, he said.

Pete Jakstas, who owns the Mineola property, said he could not comment on the proposal, but added it's no secret the Mineola has been for sale for years.

"I've heard rumors for 50 years that it's sold or in the process of being sold, but I'm still here," he said. "There have been some negotiations, but nothing has been signed at this point."

This isn't the first time plans for the Mineola site have been brought to the village board. The most recent was three years ago when developers wanted to renovate it into upscale condominiums, and build two adjacent 10-story condominium towers.

That plan fell apart before final board approval.

Bender said it is a shame the latest plans don't call for the old structure to be renovated, but he believes the site needs to be redeveloped.

"This looks like a decent project that could become viable," he said. "But, I'm also leaning toward seeing a hotel or some commercial there. We'll just have to see where everything goes from here."

Built in 1884, the Mineola Hotel is the largest wood structure in Illinois and, in its heyday, was considered the premier hotel on the Chain O' Lakes.

The hotel has deteriorated over the years. It stopped serving guests in the 1960s, and now, a restaurant and lounge operates out of the first floor of the building.