Penny Park, located along Manistee Lake, is Eastlake's largest and most frequently used park. The park includes 38 campground sites, half of which offer electrical hookup capacity. The park also includes restrooms and showers for campers, a picnic area, fish cleaning station, and boat launch facility.
Penny Park is regionally significant as an access to Manistee Lake, which also provides access to the Manistee River and Lake Michigan. Fishing in these water resources is considered world‐class, and as such Penny Park attracts a large number of visitors to the community in the spring and summer months.