Some of the most iconic properties at Okoboji soon will have new owners.

Butch and Debbie Parks, owners of Parks Marina, plan to sell several of their businesses at the northwest Iowa destination early next year, including Central Emporium, Okoboji Boat Works, O’Farrell Sisters restaurant, property adjacent to Brooks Golf Club and some residential properties.

“The offer was a really, really good offer, and the timing was right for our family,” Debbie Parks said. “We’ve had a lot of people interested but nothing that really stuck. Butch is reaching retirement age … and timing was right.”

Central Emporium, which has overlooked West Lake Okoboji for more than a century, is being sold to Michael Jensen, who also owns Jensen Real Estate in the Okoboji lakes area.

“I’m so happy for him,” Parks said. “It’s a great opportunity for young energy, and he’s local. When we bought Okoboji Boat Works, we bought it from his dad, Jimmy, so it’s really cool and a full-circle moment.”

The building is filled with small independent retailers and The Gardens restaurant.

The Parks family owned Central Emporium for about eight years, “which I feel like went so fast,” she said. “It’s an old, old building, and we did what we could with new docks and a roof. I love that place, too, but I’m excited to go back and be a customer.”

Jensen said he plans to make additional improvements to the property and will provide more information ahead of next season.

He also represented the new ownership of the rest of the properties. More details will be announced next year on plans for those, he said, though O’Farrell Sisters will continue to operate, and the plan is not to redevelop other properties that were acquired into condominiums.

O’Farrell Sisters dates back to 1947 when it was founded by sisters Arlene, Ferne and Edna Mae O’Farrell. It’s known for all-day breakfast and is open for breakfast and lunch in the off-season Thursday through Sunday.

Okoboji Boat Works has been owned by the Parks family for 24 years and offers cruises and boat rentals. Most of the Okoboji Boats operation will be consolidated into Parks Marina, and the staff will transition there too.

The staff for The Gardens and O’Farrell Sisters will transition to the new ownership on Jan. 31, 2025.

For the Parks family, selling “was not easy,” Parks said. “It’s such a part of the landscape. Okoboji is so rich in history … but the timing is right, and change inevitably happens. When I look back, we have so much to be proud of, and we really made a mark in Okoboji.”

The Parks family will continue to own Parks Marina, including the location in Sioux Falls, and The Barefoot Bar adjacent to the Okoboji location.

They also own several acres to the east for potential development.

“We’ve tossed around lots of ideas, and this will definitely open the playing field for future investment,” Parks said. “So that’s really exciting.”