The deal was announced yesterday, according to the Herald Journal of Monticello.
Locations included in the sale are Indiana Beach amusement park, Jelleystone Park Camp-Resort and Indiana Beach Camp Resort. All are near Monticello, which is roughly halfway between Indianapolis and Chicago.
A spokesman for the Spackman family, which has owned the facilities for 80 years, said the equipment needed expensive upgrades and expansions, and the current generation of management was nearing retirement age.
The resort was opened in 1926 by Earl Spackman with 10 rental boats, a beach, bathhouse and refreshment stand.