$719,900
PENDING

540 Loop Rd Ely, MN 55731

Estimated payment $3,956/month

Total Views 5,058
3 Beds
2 Baths
3,160 Sq Ft
$228 Price per Sq Ft

Highlights

  • Private Waterfront
  • Deck
  • Main Floor Primary Bedroom
  • Lake View
  • Traditional Architecture
  • Loft

About This Home

Here's a Northwoods retreat people dream about but rarely find. This handcrafted log home on Farm Lake wraps you in warmth the moment you walk in — over 2,400 sq ft, wrapped in timber and sunlight. The main level is designed for togetherness: new custom kitchen cabinets, quartz countertops, a comfortable dining area, and a living room anchored by a cozy wood-burning stove. Two bedrooms & a full bath complete this level. Head up to the 700+ sq ft loft, with soaring ceilings, built-ins, and sweeping views make the space feel tucked-away and inspiring an artist’s nook or simply reading a book while the pines sway outside your window. The walk-out level is its own retreat, featuring the Primary Suite, a utility/laundry room, and a rec room made for hosting. Private woods take you to the 220 ft of shoreline. Incredible view from the custom built 100 ft perm newer dock, complete with benches and a kayak step, makes slipping into the lake a breeze Best of all the BWCA is just a paddle away.

Listing Agent

Andrea Zupancich

Z' Up North Realty Listed on: 12/15/2025

Home Details

Home Type

  • Single Family

Est. Annual Taxes

  • $2,615

Year Built

  • Built in 2007

Lot Details

  • 2.6 Acre Lot
  • Lot Dimensions are 225.00 x 475.00
  • Private Waterfront
  • 220 Feet of Waterfront
  • Lake Front

Parking

  • 2 Car Detached Garage

Home Design

  • Traditional Architecture
  • Concrete Foundation
  • Wood Frame Construction
  • Asphalt Shingled Roof
  • Log Siding

Interior Spaces

  • Multi-Level Property
  • Wood Burning Fireplace
  • Family Room
  • Living Room
  • Loft
  • Lower Floor Utility Room
  • Utility Room
  • Lake Views

Kitchen

  • Range
  • Microwave
  • Dishwasher

Bedrooms and Bathrooms

  • 3 Bedrooms
  • Primary Bedroom on Main
  • Bathroom on Main Level

Laundry

  • Laundry Room
  • Dryer
  • Washer

Finished Basement

  • Walk-Out Basement
  • Basement Fills Entire Space Under The House
  • Bedroom in Basement
  • Recreation or Family Area in Basement
  • Finished Basement Bathroom

Outdoor Features

  • Deck
  • Porch

Utilities

  • Window Unit Cooling System
  • Heating System Uses Wood
  • Drilled Well
  • Electric Water Heater
  • Private Sewer

Community Details

  • No Home Owners Association

Listing and Financial Details

  • Assessor Parcel Number 28631133337

Home Details

Home Type

Single Family

Est. Annual Taxes

$2,615

Year Built

Built in 2007

Lot Details

0

Listing Details

  • Class: SINGLE FAMILY
  • Directions: Hwy 169 N to Kawishiiwi Trail, Right to Bay Road, Left to Loop Road, right to fire number
  • L O1 Office Phone1 Number: 218-827-2288
  • Property Sub-Type: SF/Detached
  • Tax Year: 2025
  • Twp Number: 63
  • View Type:Pond View: Inland Lake
  • Lot Description Waterfront: Yes
  • Air Conditioner: Window
  • Amenities Exterior: Deck, Porch
  • Mfg And Park Info Construction Type: Frame/Wood
  • FinFootageAboveGrade: 1580
  • Below Grade Finished Sq Ft: 1580
  • Garage Type: Detached
  • Heat: Wood, Electric
  • Fireplaces: 1
  • MainFloorBath: Yes
  • RdBtwnWtrfrntAndHome: No
  • Reso Roof: Asphalt Shingles
  • Bedroom 3: Kitchen
  • TotalBedrooms: 3
  • Year Built: 2007
  • Level 1 Bedroom: Main
  • RoomLevel3: Main
  • RoomLevel4: Main
  • RoomLevel5: Main
  • RoomLevel6: Lower
  • RoomLevel7: Lower
  • RoomLevel8: Upper
  • Property Style: Traditional
  • Special Features: None
  • Property Sub Type: Detached

Interior Features

  • Total Three Quarter Bathrooms: 1
  • Appliances: Dishwasher, Dryer, Microwave, Range/Stove, Refrigerator, Washer
  • Basement Features: Finished, Walkout, Bath, Bedrooms, Family/Rec Room, Utility Room, Washer Hook-Ups, Dryer Hook-Ups
  • Basement Material: Concrete Block
  • Basement Style: Full
  • Bathroom Description: Full Main Floor
  • Extra Rooms: Family/Rec, Utility Room
  • Fireplace: Yes
  • Den Fireplace Type: Wood Burning
  • Bedroom Features:Main Floor Bedroom: Yes
  • Bathroom 1: Living Room
  • Bathroom 2: Family Room
  • Main Residence Features:Family Room4: Bedroom
  • Bedroom 5: Bedroom
  • Stories: 1.25 - 1.75 Story
  • Room 6: Bedroom
  • Room 7: Utility Room
  • Room 8: Loft
  • Total Bathrooms: 2
  • Total Fin Square Footage: 3160
  • Exercise Room Level2: Lower

Exterior Features

  • Waterfront Access: Private
  • Water Frontage In Feet: 220
  • Waterfront Name: Farm
  • Construction Status: Previously Owned
  • Exterior: Log

Garage/Parking

  • Garage Capacity: 2
  • ParkingFeaturesGarageDimensions: 24 x 26

Utilities

  • Power Company: City Of Ely
  • Sewer: Private
  • Water: Drilled

Condo/Co-op/Association

  • Association Fee: No

Schools

  • Junior High Dist: Ely #696

Lot Info

  • Estimated Lot Dimensions: 225.00 x 475.00
  • Estimated Number of Acres: 2.6
  • Cultivated Acreage: LSAR
  • Geo Subdivision: MN
  • Parcel Number: 28631133337
  • Waterfront Type: Inland Lake

Rental Info

  • Lease Terms: Cash, Conventional, VA DVA

Tax Info

  • Tax Amount: 2615

Map

Range of Values:

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Value Increase
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Percent Increase
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Adjusted for Inflation
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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
2025 $2,700 $483,000 $144,000 $339,000
2024 $1,753 $486,400 $144,000 $342,400
2023 $1,169 $478,300 $135,800 $342,500
2022 $1,694 $313,500 $130,100 $183,400
2021 $1,596 $242,800 $124,900 $117,900
2020 $1,894 $228,500 $124,900 $103,600
2019 $1,881 $243,800 $139,100 $104,700
2018 $1,978 $243,800 $139,100 $104,700
2017 $1,688 $251,600 $145,800 $105,800
2016 $1,641 $228,300 $139,200 $89,100
2015 $1,691 $228,300 $139,200 $89,100
2014 $1,691 $0 $0 $0
2013 $1,427 $0 $0 $0
2012 $832 $0 $0 $0
Source: Public Records

Property History

Date Event Price List to Sale Price per Sq Ft Prior Sale
12/22/2025 12/22/25 Pending -- -- --
12/15/2025 12/15/25 For Sale $719,900 +114.9% $228 / Sq Ft
02/04/2021 02/04/21 Sold $335,000 0.0% $212 / Sq Ft View Prior Sale
12/21/2020 12/21/20 Pending -- -- --
12/15/2020 12/15/20 For Sale $335,000 +39.6% $212 / Sq Ft
07/03/2013 07/03/13 Sold $240,000 -4.0% $196 / Sq Ft View Prior Sale
05/28/2013 05/28/13 Pending -- -- --
02/15/2013 02/15/13 For Sale $250,000 -- $204 / Sq Ft
Source: Lake Superior Area REALTORS®

Purchase History

Date Type Sale Price Title Company
Quit Claim Deed $3,000 None Available
Warranty Deed $335,000 None Available
Deed $335,000 --
Source: Public Records

Mortgage History

Date Status Loan Amount Loan Type
Previous Owner $100,000 Stand Alone Refi Refinance Of Original Loan
Closed $100,000 No Value Available
Source: Public Records

Source: Lake Superior Area REALTORS®

MLS Number: 6123162

APN: 28-6311-33337