History

History

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Property Information

Petoskey

 

Address:

500 E Mitchell St
Petoskey
Michigan 49770

 

Description:

History

Petoskey is a beautiful town situated in Little Traverse Bay and was called Bear River when the early missionary reached this town in 1855. Later on, Petoskey was renamed after Pe-to-se-ga, an Ottawa Indian chief. In 1879, the town was formally given a charter.

Likewise, the name Petoskey was taken on for the state stone of Michigan, which is a fossilized coral. The state stone’s marking bears a resemblance to the rays of the shining sun.

In the summer of the year 1874, railroads had been making frequent operations between Petoskey and Grand Rapids, and the town’s transformation was fast. It developed into a busy, vibrant community that caters to the demands of tourists. Close to the railway depots are lavish resort hotels that were constructed.

Water power had been harnessed to operate hardwood flooring and furniture-making industries, flour mills, sawmills, and butter bowl factories along Bear River.

Plying the bay were small steamers, and as fast as the rails can be placed, the “mock-up” trains ran courses between Harbor Springs and Petoskey at intervals of 15 minutes. Other frequent courses brought the resorters to Charlevoix, Alanson and Walloon Lake.

A considerable number of shops had been established along Lake Street by 1890, thus forming a distinctive shopping district that is initially called Midway. The shops mainly catered to the wealthy resorters and had become the hub of what is now known as Gaslight District.

Downtown Gaslight District turned into a continual shopping area. Numerous businesses flourish in this area today and have already been doing businesses for 50+ years. They consist of Reusch Jewelers, J.C. Penney, Meyer ACE Hardware, The Circus Shop, Jesperson’s, and Grandpa Shorter’s.

Area and Climate

Petoskey is a coastal resort community and city in Michigan and is famous for Petoskey Stone, Gaslight Shopping District, Victorian architecture, and Michigan’s state stone. This Harbor’s Springs’ waterfront community provides the locals and tourists with a variety of deepest fresh water harbor in Great Lakes, as well as art galleries and culinary attractions.

Petoskey was West Michigan and Chicago Railway’s northern terminus.

The town receives 31” of rain each year, which is lower than the US average of 37”. It receives 108” of snowfall yearly, which is higher than what an average US city receives every year (25”). Petoskey has 157 sunny days, with July having the highest temperature of about 77 degrees and January having the lowest temperature of 15 degrees.

Real Estate and Cost of Living

The approximate value of a condo or home in 2000 was $123,100and $169,108 in 2011.

2011’s mean cost for all home units was $283,403, $488,929 for townhomes and attached units, $256,973 for detached homes, $556,667 for 3- to 4-unit structures, and $300,457 for 5-unit structures or more.

The town’s cost of living in March 2012 was 82.8, which is lower than the US average of 100.

Lifestyle and Things to Do

You are sure to find the kind of vacation that you are looking for here at Petoskey. You can jet ski or windsurf to experience absolute adventure, or you can walk and relax at the beach while searching for Petoskey Stones. You can also go sky diving at Harbor Springs, enjoy the complete gaming action at Odawa Casino, or go parasailing at Boyne City.

If you want a more serene getaway, you can head to the forested trails or hike and bike roadways, enjoy the sun in any of the beaches, or hunt for Petoskey Stones and morel mushrooms. Also waiting for you is a 25,000-acre picturesque, natural beauty located at the nature preserves.

Those who love to shop will certainly adore the unique flavors of Village at Bay Harbor, Gaslight District and the lovely stores of Harbor Springs and downtown Boyne City.

History aficionados, on the other hand, will love the wide-ranging historic architecture of Bay View Association and Petoskey. Moreover, Little Traverse History Museum is among the little gems for those who love history. The museum comprises of exhibits featuring the life of Ernest Hemingway in Michigan.

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