If you ever wanted to own a vineyard in Leelanau County, MyNorth.com has a feature for you:
“There has never been a property in the state of Michigan that has been sold with vines on it,” says realtor Dan Matthies of Peninsula Properties.
…The lack of turnover in vineyard properties, Matthies says, is related to the kind of commitment it takes to be a vintner. Add the time (three years before you see your first crop, five years before a full harvest) and upfront capital ($15,000 an acre to plant grape vines), and it’s pretty clear that starting a vineyard is more about passion than it is the bottom line.
After all that grape TLC, if a vintner does end up wanting to sell, says Matthies, who also sits on the Michigan Wine and Grape Council, appraisals are difficult—given that there are no comparable properties. Matthies believes the best appraisal is one that takes into account Northern Michigan’s growing national reputation as a superb wine growing region.
Photo: Bel Lago Vineyard by Cotopaxi Sprattmoram