Instead of purchasing a car, this man bought a small-town hotel during his midlife crisis.

For the past two years, Matt Rogatz, a property developer from northern Chicago, made a weekly five-hour round trip to Green Lake, Wisconsin, which has a population of 1,005.

He only knew that his high school buddy had family in the small town, he said.

After 30 years in industrial real estate and completing over 400 transactions worth more than $750 million, Rogatz experienced a midlife crisis.

Rogatz couldn't find any valuable industrial properties while searching for his next one, which made him feel like his life was on autopilot and he wasn't growing as an individual. Despite this, he decided not to retire like many others at that point.

Rogatz stated that he had no desire to enter the hospitality industry as he lacked knowledge on how to manage a hotel and was deterred by tales of unpleasant hotel guests. Furthermore, he added that the restaurant industry was notorious for theft, according to him.

He said that an internet search in early 2021 completely changed his mind.

A small-town hotel for sale

While browsing the internet, Rogatz discovered that the Green Lake Inn, a 17-room hotel located on 1.5 acres of land, was up for sale. The property is situated near the downtown area of the small town and is only a short distance away from the famous 7.3-mile-long lake, known for being the deepest in Wisconsin.

Rogatz decided to take a risk and thought that in the worst-case scenario, he could utilize the inn for private retreats and invite his extended family on vacation. He spent the following months renovating the inn, which he described as "well-maintained but very outdated."

In fact, the opposite of the worst-case scenario occurred, he said.

"After Covid, people started wanting to do things again, and the timing was right for me to make some decent money in my first year," Rogatz remembered.

On a streak

The Angel Inn, a grand waterside villa and guest house with its own boat dock, was his next purchase.

The elderly couple who ran a bed and breakfast wanted to retire and spend more time with their grandchildren. Rogatz renovated the seven-bedroom, seven-bathroom property, giving it a modern makeover with updated finishes, windows that maximized its lakeside views, and replaced the dark color scheme and 1970s carpets, linen, and furniture.

Immediately recognizing the potential in combining both properties, Rogatz saw the opportunity to create wedding packages that utilized the Green Lake Inn as a venue and The Manor for additional guest accommodations. In order to facilitate transportation between the two venues, he even purchased a minibus.

When Élan Brio entered the market, Rogatz seized the opportunity to acquire the property and offer hair and beauty treatments for weddings, including dips in the spa's saltwater pools.

The addition of the Goose Blind bar and restaurant and partnerships with local golf courses finalized vacation packages for fishermen and golfers in the area.

Rogatz stated that he has hosted groups of 24 men at their hotel, transporting them to the golf course and goose blind before returning them. The guests appreciate this service as it eliminates the need for them to drive after drinking. Rogatz ensures that everything is arranged for the guests, requiring only a single payment.

The inn offers boat parking and outlets for fishermen to charge their boats, he stated.

In two years, Rogatz's Green Lake tourism operation has grown to five properties, costing him nearly $4 million to purchase and several million more for renovations.

A new getaway

Rogatz, who frequently visits Lake Geneva, has made it his mission to increase the number of tourists at Green Lake.

Rogatz stated that Green Lake, although not on the radar of many Chicago people due to its distance from the city, is still an expensive and crowded destination that lacks enjoyment due to the large number of boats.

Rogatz plans to market Our Green Lake to adventure sports groups in Chicago and build relationships in different cities to promote the park, even during the usually quiet winter months when temperatures are below freezing. He is optimistic and opportunistic and plans to entertain visitors with activities like ice sailing, ice fishing, curling, and dog sledding.

Green Lake's former jail will offer indoor activities in winter, including boutiques, a flea market, cooking, and mixology classes, according to Rogatz.

The first floor, previously a kitchen, has been transformed into a 40-seat breakfast venue called the Terrace Cafe. However, the second floor, which was once a jail, is proving to be a bit more challenging, he stated.

The third floor is being utilized for a monthly bingo night, and Rogatz has agreed to continue using it for other events, including laser tag and obstacle courses, as long as he is allowed to do so.

Green Lake’s “renaissance”

Rogatz sees Green Lake's vacant properties as an opportunity to revitalize the town.

Green Lake has experienced a new energy due to the investments made by local golf courses, cafes, hotels, and bowling alleys, as stated by Rogatz, who now serves as an advisor on the Green Lake Economic Development Committee.

The Green Lake Area Chamber of Commerce is pleased that the town is gaining popularity, even though some locals worry about it becoming too crowded like Lake Geneva, said Lisa Meier, the chamber's executive director.

Meier stated that Matt's investments will contribute to our community's recognition as a year-round destination.

Green Lake's success is Rogatz's personal mission.

As soon as you arrive at Green Lake, you inhale deeply and feel a sense of calm wash over you. The tension of the city melts away, leaving you feeling rejuvenated and at ease.