By Scott Sullivan
Editor
Saugatuck’s Dockside Marketplace, home of the former Mermaid Bar & Grill and Baldy’s Smoked Meats, has been sold to local investors who plan to reopen it with a fresh look and new restaurant concepts.
Boat Shed Properties LLC — whose principles include former Butler Restaurant owner Stephen Phelps, Phil’s Bar & Grille owner Phil Sauve and Chad Van Horn, broker at Beacon Sotheby’s International Realty — bought the 8,442 square-foot building at 340 Water St. for $2.4 million Dec. 20 from an entity linked with former owner and restaurateur Eric Chaitin, property records show.
Record-high water levels in 2021 caused flooding damage to the Kalamazoo River fronting venue, causing Chaitin costly repairs. The two restaurants closed for the season in 2023 and did not reopen.
“The property sat idle for a couple seasons and was obviously starting to deteriorate — it’s in need of some love,” Van Horn said. “We had a vision of bringing new life to an iconic property in a great location on the water, and not letting weeds grow through the cracks.”
He said he expects to reopen the space this season as two new restaurant concepts. One, Boat Shed announced in a press release, one will be called Marker 14, which will offer “waterfront cocktails and dining.”
“We haven’t set a date yet for it and the other one, but hope to soon,” Van Horn said.
“Boat Shed plans to preserve the nostalgia and industrial character of the space while improving it to attract new tenants,” the group’s release said.
“Located at Marker 14 on the Saugatuck inlet from Lake Michigan, the property has a rich history dating back to 1895,” it went on.
Past occupants have included a blacksmith shops, a fruit store, boat warehouse, motion picture theater and part of an air dome.
The former buildings were demolished at various times between 1895 and the 1980s. The existing Harbor Marketplace was built 1950 and remodeled into the current configuration in 1998. Various retail stores and restaurants have occupied it since at least 1995.
The former Mermaid space, which occupies 4,008 square feet on the building’s south side, boasts an expansive waterside patio and docks. Twelve commercial condominium units lie between it and the 1,175-square foot former Baldy’s on the building’s north side, which has patio seating too and boasts the “Saugatuck” mural shown nearby.
Both share a kitchen and storage space, which can be separated if needed
Chaitin bought the Mermaid in 2016 and opened Baldy’s Smoked Meats in 2019. He also previously owned Ottawa Beach Inn in Holland, which he bought in 2014 and sold in 2024.
He is now involved in a bankruptcy case concerning the two ventures and another, Matchbox Diner & Drinks in Grand Rapids’ Eastown neighborhood. A hearing is set May 23 on the U.S. Trustee’s motion to convert Matchbox’s Chapter 11 bankruptcy to a Chapter 7 case.
