Kraemer Development acquired the former Morels Restaurant (formerly Chalet St. Moritz) property in July of 2011 with the intention of repositioning the property. The 20 acre property had an 8000SF restaurant, a single family home, a wedding chapel and two storage buildings. The property was a prime candidate for redevelopment into a single family residential subdivision because of its premier location and serene surroundings. Situated 3 miles from Hwy 12/18 (Beltline) and 5 minutes from downtown Middleton and adjacent to Sunset Ridge Elementary school made this a desirable location for potential buyers.
After acquiring the property, Kraemer Development donated the existing buildings to the Middleton Fire Department to use for training and eventually a controlled burn of the structures. Clean up and site work began in August 2011 and lots were ready for delivery to buyers that October. On average, lots were around 1 acre of land with all lots having a wooded backdrop for privacy, and prices ranged from $125,000 - $185,000 for the premier lots. Even though the market was slow, the property was 100% sold out in 1 ½ years, twice as fast as projected.