Estimated payment $7,258/month
Total Views
18,121
3
Beds
2
Baths
2,460
Sq Ft
$467
Price per Sq Ft
Highlights
- 2,800 Feet of Waterfront
- Lake View
- Deck
- Beach Access
- 1,197,900 Sq Ft lot
- Living Room with Fireplace
About This Home
Set on a secluded 27.5-acre wooded peninsula overlooking the pristine Shagawa Lake, this extraordinary property redefines lakeside living with an ambiance of serene sophistication. With 2,800 feet of southwest-facing shoreline and surrounded by towering pines, this retreat provides an unparalleled sense of privacy and natural beauty, while remaining just five miles from the charming town of Ely.
The centerpiece of this estate is a meticulously designed three-bedroom, two-bathroom year-round residence that embodies timeless craftsmanship and modern comfort. Thoughtfully curated with premium materials and an emphasis on harmonious flow, the home offers a seamless blend of functionality and artistry.
The main level greets you with an expansive living room with vaulted ceilings, a propane fireplace, and floor-to-ceiling windows that frame breathtaking lake views, allowing natural light to cascade through the space. Two skylights amplify the sense of openness, while rich wood accents add warmth and texture.
The kitchen is an entertainer's dream, features granite countertops, a striking tile backsplash, and a central island with seating for two. Sliding patio doors lead to a generous lakeside deck, perfect for alfresco dining and sunset gatherings. Adjacent, the dining room boasts oak flooring, a bay window capturing both southern and eastern views of the lake, and an inviting openness that enhances the flow between spaces.
The upper level houses three well-appointed bedrooms with oak floors, ceiling fans, and picturesque lake vistas. The primary bedroom has access to a secluded deck overlooking the water. On the lower level, a versatile open-concept space offers a cozy family room with custom built-ins and a freestanding propane fireplace—ideal for movie nights or quiet evenings.
The property’s outdoor features are equally impressive. A large wraparound deck invites you to savor panoramic lake views while the expansive majestic pine forest offers endless opportunities for exploration. The shoreline transitions gracefully between sandy, level beaches and dramatic rock ridges, creating a landscape as diverse as it is beautiful.
For the hobbyist or collector, the 36x40 three-stall garage with steel siding provides ample storage and workspace. Modern amenities, including a drilled well, inspected septic system, and steel siding, ensure peace of mind.
Positioned just minutes from Ely, this home balances the tranquility of lakeside living with easy access to the area’s vibrant cultural scene, dining, and outdoor recreation. Shagawa Lake offers year-round enjoyment, from boating and fishing in the summer to snowshoeing and ice fishing in the winter, ensuring every season is memorable.
This property is more than a home; it’s an invitation to an enriched lifestyle defined by tranquility and connection to nature. Whether you seek a private retreat, a space to host unforgettable gatherings, or a legacy property to cherish for generations, this rare offering presents an exceptional canvas for your vision.
Home Details
Home Type
- Single Family
Est. Annual Taxes
- $10,722
Year Built
- Built in 1976
Lot Details
- 27.5 Acre Lot
- 2,800 Feet of Waterfront
- Lake Front
- Additional Parcels
Parking
- 3 Car Garage
- Garage Door Opener
Property Views
- Lake
- City
Home Design
- Metal Roof
Interior Spaces
- 2-Story Property
- Free Standing Fireplace
- Self Contained Fireplace Unit Or Insert
- Great Room
- Living Room with Fireplace
- 2 Fireplaces
- Utility Room
Kitchen
- Range
- Microwave
- Freezer
- Dishwasher
- Stainless Steel Appliances
- The kitchen features windows
Bedrooms and Bathrooms
- 3 Bedrooms
Laundry
- Dryer
- Washer
Finished Basement
- Walk-Out Basement
- Drainage System
- Sump Pump
- Basement Storage
- Natural lighting in basement
Outdoor Features
- Beach Access
- Deck
Utilities
- Baseboard Heating
- Hot Water Heating System
- Boiler Heating System
- 150 Amp Service
- Water Filtration System
- Private Water Source
- Well
- Drilled Well
Community Details
- No Home Owners Association
- Morse Town Of Subdivision
Listing and Financial Details
- Assessor Parcel Number 465002002962
Map
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Home Values in the Area
Average Home Value in this Area
Tax History
| Year | Tax Paid | Tax Assessment Tax Assessment Total Assessment is a certain percentage of the fair market value that is determined by local assessors to be the total taxable value of land and additions on the property. | Land | Improvement |
|---|---|---|---|---|
| 2023 | $6,380 | $626,600 | $338,200 | $288,400 |
| 2022 | $5,910 | $544,600 | $308,100 | $236,500 |
| 2021 | $5,206 | $446,800 | $248,100 | $198,700 |
| 2020 | $4,814 | $446,800 | $248,100 | $198,700 |
| 2019 | $4,344 | $446,800 | $248,100 | $198,700 |
| 2018 | $4,064 | $415,500 | $204,600 | $210,900 |
| 2017 | $3,784 | $393,100 | $194,800 | $198,300 |
| 2016 | $4,404 | $364,200 | $184,900 | $179,300 |
| 2015 | $4,422 | $427,800 | $216,900 | $210,900 |
| 2014 | $4,422 | $427,800 | $216,900 | $210,900 |
Source: Public Records
Property History
| Date | Event | Price | Change | Sq Ft Price |
|---|---|---|---|---|
| 06/30/2025 06/30/25 | Price Changed | $1,150,000 | -8.0% | $467 / Sq Ft |
| 04/22/2025 04/22/25 | Price Changed | $1,250,000 | -9.4% | $508 / Sq Ft |
| 02/05/2025 02/05/25 | For Sale | $1,380,000 | -- | $561 / Sq Ft |
Source: NorthstarMLS
Purchase History
| Date | Type | Sale Price | Title Company |
|---|---|---|---|
| Deed | -- | None Listed On Document | |
| Interfamily Deed Transfer | -- | None Available |
Source: Public Records
Similar Homes in Ely, MN
Source: NorthstarMLS
MLS Number: 6639470
APN: 465002002962
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