A 7-Foot Wampum Belt, Pocket Money Bought Mackinac Island In 1781

Mackinac Island: Michigan's gem where time slows down, cars are banned, and real estate prices skyrocket. But before it became a tourist paradise, the British swooped in and made a deal for the whole island back in 1781. Spoiler alert: this might be the greatest real estate steal in history.

RELATED: Michigan's Long Forgotten Gem: Mackinac NATIONAL Park

Picture this: Patrick Sinclair, British Lieutenant-Governor, was looking for a safer spot to defend his forces, and Fort Michilimackinac wasn't cutting it, so he looked across the Straits and set his sights on Mackinac Island. The ideal defensive location had just one problem: the Anishinaabe (original people) had been using it for generations.

The Crown Wasn't Into 'Leasing' Land in the 1700's

After some chats, fierce negotiations, and the presentation of a seven-foot wampum belt, the British secured the island. Meanwhile, Sinclair started building Fort Mackinac, and the rest is history. BUT...

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Can we talk about what an INCREDIBLE deal this was for the British and what a TERRIBLE deal it was for the Anishinaabe? For context, let's take a look at what real estate is going for on Mackinac Island these days:

1. Mackinac Island Entry Level Housing: 2 beds, 2 baths, 800 square feet
   1. 2024 Price: $650,000
2. Mackinac Island Mid-Level Housing: 4 beds, 3 baths, 2,000 square feet
   1. 2024 Price: $985,000
3. Mackinac Island Fancy Level Housing: 6 beds, 5 baths, 5,000 square feet
   1. 2024 Price: $3,795,000

Think that's bad? A 2.25-acre LOT is listed on Zillow for $1,491,377. 2.25 acres. Now, compare that to the price the British paid on top of the seven-foot wampum, and we might have to pick your jaw off the floor.

Mackinac Islands Selling Price in 1781

Ready? The grand total paid by the British for the purchase of THE ENTIRETY OF MACKINAC ISLAND was $5,000. I know what you might be thinking: Five grand was probably a lot of money back in the late 1700s. Well, adjusted for inflation, that would be a little shy of $115,000 (and a 7-foot-long wampum belt).

RELATED: Michigan's 'Mackinac': WHY It's 'Naw' And NEVER 'Nac'

If you find that hard to believe, you can always visit one of the two original deeds made on May 12, 1781, which now lives under glass at the University of Michigan. It may be the best deal in real estate history.