Three stacked assets sold as one transaction: a 42-foot luxury motor yacht, a
downtown Chicago commercial slip with a transferable charter rental permit, and
a profitable six-year operating business with established marketplace channels
and a 1,000+ customer database.
THE STRATEGIC ASSET: PERMIT MOAT
The City of Chicago no longer issues new commercial charter rental permits at
Burnham Harbor. The slip and permit pairing is functionally unobtainable for new
entrants except by acquisition.
Burnham Harbor sits at the foot of the downtown
Chicago skyline, adjacent to Soldier Field, Museum Campus, and Northerly Island.
It is the highest-demand charter address on the Great Lakes. A buyer absorbing
this position inherits a moat that cannot be created with capital alone, only
acquired.
THE VESSEL
2004 Sea Ray 420 Sedan Bridge. 42 feet length overall, 2,700 engine hours.
Maintained by top-tier marine mechanical providers with no expense spared.
Upholstery and woodwork recently refurbished. Independent 2024 marine survey
value: $250,000. Naval architect work for USCG Certificate of Inspection is
complete and the COI application is filed (1 of 3 milestones complete), opening
a path to inspected-vessel operations under new ownership.
THE OPERATING BUSINESS
Structured to run with minimal direct owner involvement. A dedicated booking
broker handles inquiries, scheduling, and customer coordination. A vetted pool
of USCG-licensed captains rotates through charters.
Mechanical service is
contracted to top-tier marine providers. Bareboat documentation workflow is
largely automated through the existing software stack.
MARKETING & CHANNEL ASSETS (TRANSFERABLE)
Top Performer and Top Owner status on the largest charter marketplaces in North
America, including 5.
0-star ratings across 500+ lifetime bookings and 8
consecutive Boat of the Year awards (2018 through 2025). Owned brand domain,
website, and content library transfer with the business. The seller estimates an
entrant building from scratch would need 12 to 24 months to replicate this
channel mix.
FINANCIAL PROFILE
Three-year averages (2023 through 2025):
Revenue approximately $200,000
Gross margin 69%
Adjusted SDE $92,000
Five-year gross margin range: 67% to 73%. The business is post-cutover.
Pre-pandemic years (2021 and 2022) ran higher at $253K to $318K revenue.
Results
have stabilized at a sustainable run-rate around $200K with high-60s gross
margins. Operating expenses are largely fixed (slip, insurance, mechanical,
storage), creating operating leverage on incremental revenue growth.
A live, transaction-level recast workbook is available for review under NDA.
GROWTH PATHWAYS
COI completion would unlock inspected-vessel operations and expand the
addressable charter market. The existing permit and channel infrastructure can
support a second vessel without duplicating overhead. The owned domain and SEO
equity provide a path to reduce marketplace commission expense over time.
TRANSITION
Structured transition at no additional cost, including vendor introductions,
marketplace profile transfers, and customer database integration.
PROCESS
Detailed financials, the 2024 marine survey, the COI documentation package, and
the customer database are released upon execution of a mutually acceptable NDA....