Electric boat company pleased with first year on Chicago River

(Above) A small boat on a big river. A boat rented from Chicago Electric Boat Company in October travels east along the Chicago River near Wolf Point. (Click on images to view larger versions.)

30-Nov-12 – It appears to have been a good first season for a new venture that rents to the public small electric boats out of the marina at Marina City. Boats were rented from Chicago Electric Boat Company for a total of 3,200 hours, according to Caroline Winter, manager of operations.

At a rate of $150 per hour, that would be $480,000, although the company points out some rentals were in exchange for vouchers. Still, it should cover two boats the company purchased, each costing between $26,000 and $44,000, according to the manufacturer.

“The summer went very smoothly and we are so excited for next season,” said Winter on Tuesday.

Highlights of the company’s first season include two weddings and five marriage proposals (all said yes), along with hundreds of bachelor and bachelorette parties, birthday parties and anniversaries, and corporate events.

Recalls Winter, “Lots of people came dressed up in nautical gear and came dressed for all different kinds of parties.”

The season started on April 18 with a launch party. The company was started by Jefferson Beach Yacht Sales, based in St. Clair Shores, Michigan. In addition to million-dollar yachts sold at Marina City and five other locations, the small electric boats were brought in to help increase traffic.

Duffy Electric Boat Company built the boats in southern California. According to an October 4 article in Fortune magazine, the company was started in 1970 after its owner, Marshall “Duffy” Duffield, ran out of gas on his motorboat. (Left) A Duffy electric boat on the Chicago River in front of Marina City on August 9.

With a top speed of about seven miles per hour, the boats seat up to ten people and were available for rent any day of the week for $150 an hour, a nine percent Chicago Amusement Tax, a $500 security deposit, and a signed liability waiver.

The boating season continues in Florida, and a company in Tampa this month started renting out Duffy electric boats in a more competitive market for $85 per hour.

Chicago Electric Boat Company, meanwhile, is cleaning and winterizing its boats. Their next season will start in mid-April.

 Related story: Whirring on the river: Yacht broker branches out to tiny electric boats