Landmark Lake Wawasee Waterfront Restaurant with SS Lillypad II Houseboat & Additional Parking Lot Offered Separately! 

Online Auction, Wednesday, March 11, 2026 -- Bidding begins closing out at 6 pm

1116 S. Harkless Drive, Syracuse, IN 46567

Auction Manager: Tim Pitts, 317.714.0432

Bid on each tract individually or the entirety!

• Turkey Creek Township • Kosciusko County
• The Frog Tavern Restaurant & Bar• 2, 3-Way Liquor Licenses • Charter Houseboat • .89 Acre Parking Lot
• $14,532.98 Annual Taxes • 7,518 Sq. Ft. 

BID NOW AT BIDMETZGER.COM

TRACT 1: Rare Lake Wawasee Waterfront Opportunity for The Frog Restaurant & Bar with Houseboat, the S.S. Lillypad II Selling via Online Auction on March 11th starting at 6 pm.  

This is Tract 1 and it offers approximately 250’ of Lake Wawasee water frontage, the Landmark Frog Tavern, and the S.S. Lillypad II, a proven dinner cruise and special events vessel!  Established in 1932, the business has evolved from a winter gathering place for ice fishermen into a popular, laid-back waterfront destination known for casual dining, live music, and accessibility by both land and water. This building was originally constructed in 1949 and has operated as a restaurant and bar for decades, making it widely recognized as a staple of the Lake Wawasee community. Notably, the tavern has seen only six owners in more than 89 years, reflecting long-term stability and community support.

This iconic property offers year-round indoor & outdoor dining, live entertainment space, waterfront seating with boat docking access, game room, pool tables, and a long-standing reputation as a premier lake destination. The restaurant features a full commercial kitchen, multiple dining & entertainment areas, game room, large bar, walk-in coolers, offices, storage, and four restrooms. Located in an exclusive, high-demand lakefront market with limited commercial inventory, this property presents a unique opportunity for owner-operators or investors seeking a turnkey hospitality and event venue with waterfront real estate.

Tract 1 also includes the S.S. Lillypad II, a 70’ commercial event houseboat used for private charters and public cruises, Two (2) 3-way liquor licenses—a rare and valuable asset in this market—support both on-site restaurant operations and off-site lake cruises, enhancing revenue flexibility and future growth potential.   See Information Packet for Full Details.  Bid on this tract individually or in combination with Tract 2, a .89-acre overflow parking lot.

The Frog Tavern’s Restaurant & Bar, Building Amenities & Restaurant features include:

• Versatile Layout with Multiple indoor and outdoor dining areas
• Waterfront outdoor seating with boat docking access
• Large bar area with seating
• Stage for live bands and dance floor
• Game room with arcade games & Pool tables
• High-Volume Seasonal Traffic
• Commercial kitchen
• Two (2) walk-in coolers
• Storage areas
• Two offices
• Four total restrooms

Utilities & systems:

• Seven (7) gas forced-air furnaces
• Seven (7) central air conditioning units, approximately 3 years old
• 3-phase electrical service
• City utilities
• Security system
• Two (2) 3-way liquor licenses included in the sale (one for the restaurant and one for the houseboat)
• Onsite Parking Lot

S.S. Lillypad II – Commercial Event Houseboat for Boat Charters on Lake Wawasee

Included with Tract 1 is the S.S. Lillypad II, a 2006 Sumerset houseboat, custom designed and commissioned for commercial dinner cruises and special events on Lake Wawasee. The S.S. Lillypad II has served guests on Lake Wawasee for more than a quarter of a century, hosting private charters and public cruises. Bookings include weddings, receptions, corporate outings, social events, luncheons, dinners, and fundraisers. The vessel is primarily used for private events, and hosts approximately 150+ total cruises annually including around 20+ public cruises, supporting continued interest and demand.

Vessel specifications and features:

• Approx. 70’ x 20’, two-story configuration
• Passenger capacity of up to 120
• Lower level enclosed and climate controlled, seating up to 60 guests
• Upper level approximately 70% covered, offering 360-degree lake views
• Well-maintained, surveyed favorably, and has demonstrated consistent upkeep and crew training
• Twin Mercury Marine MerCruiser 4.3L MPI gasoline engines
• 220 HP V6 engines with Bravo One outdrives

Houseboat Interior features:

• Open entertainment layout with galley to port and bar to starboard
• Helm positioned forward along the centerline
• Galley equipped with full-size refrigerator and freezer, stainless steel sink, and steam line for buffet-style dining
• Collapsible tables and stackable chairs for flexible event configurations
• Don’t miss your chance to own this well-established, turn-key, waterfront Restaurant along with a commercial event houseboat, located on Indiana’s largest natural lake, Lake Wawasee!  

TRACT 2: Features a .89-acre gravel parking lot providing additional parking and/or storage opportunities for businesses or residents alike! Just east of State Road 13 and approximately 3 miles south of US 6, this piece of land could be a great investment opportunity or a great addition to Tract 1. Bid on this tract individually or in combination with Tract 1, the Frog Tavern & SS Lillypad II Houseboat! 

Schedule Your Private Showing Today! Call/Text Auction Manager: Tim Pitts, 317.714.0432 or our office at 260.982.0238

TERMS: If online only, it will be a soft close, the end time continues to extend by a few minutes whenever a bid is placed within 2 minutes of the auction closing. This means it doesn't truly end until all bidding has stopped, providing a fair opportunity to all bidders!

A 2 % Buyer's Premium will be added on top of the purchase price. 10% down per tract within 24 hours of the auction with the balance at closing. The Sellers will provide a Warranty Deed & an Owner's Title Insurance Policy at closing. If survey is required for clear title, the costs shall be split 50/50 by the Seller and Buyer(s).

Buyer(s) agree to sign the purchase agreement within 24 hours of the auction ending and submit their earnest money to Metzger Property Services within the 24 hour time period via cash, check or wire transfer. Buyer(s) agree to pay an additional $25 wire transfer fee if wiring said funds. Buyer(s) who fail to do so will be in breach of contract and are subject to damages &/or specific performance. 

RE BROKERS: Must Register Clients 24 hrs. in advance of the auction & be present with them at any & all showings they attend to receive compensation. Client Registration form is in docs. Seller has the right to accept bids prior to auction.