Matt Lester, founder and CEO of Bloomfield Township-based Princeton Enterprises LLC, has purchased the Drummond Island Resort and Conference center, a 1,550-acre property on Lake Huron originally built by Tom Monaghan – the founder of Dominos Pizza and former owner of the Detroit Tigers.

The land, built roughly 30 years ago for $30 million was scheduled to go to auction on Tuesday morning.

According to the listing, the property is stacked with impressive real estate, including a golf course, a 20,000 square foot airplane hanger, two restaurants, and conference center.

The details of the purchase are unclear but the reserve price was set at $3.5 million. The purchase also included The Hunt Club, which boasts another 3,000 square feet on the shore of Lake Huron. The combined purchase amounts to roughly 1,700 acres of land.

While Lester has not revealed the full details of his development plans, he told Crain’s that it could include as many as 100 home sites.

While rich with natural beauty, the island is remote, which may have been why it has yet reached its full potential. However, with a fresh set of investors, it will be interesting to see what’s next for this natural wonder.

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