Pending: Ely MLS# 7039929
Pending
$975,000
Single Family: 2 Stories
3 br • 2 ba • Built 1976
2,460 sqft • 27.5 acres
Yellow Medicine East schools
MLS# 7039929
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Property Description
Privately spanning two parcels on a secluded 27.5-acre wooded peninsula, this extraordinary Shagawa Lake property offers an almost unheard-of 2, 700+ feet of southwest-facing shoreline, a scale of waterfront ownership rarely available and nearly impossible to replicate today. With panoramic sunset views, towering pines, and complete privacy just five miles from Ely, this is a true Northwoods legacy property. The centerpiece of this property is a well-built, year-round three-bedroom, two-bathroom home designed for comfort and a strong connection to its surroundings. The spacious living room features vaulted ceilings, a propane fireplace, and floor-to-ceiling windows that frame stunning lake views. Skylights bring in natural light, while rich wood finishes add warmth and character. The kitchen is both stylish and functional, with granite countertops, a tile backsplash, and a center island. Sliding doors lead to a large lakeside deck, perfect for outdoor dining and relaxation. The dining room showcases oak flooring, a bay window, and an open layout ideal for gatherings. Upstairs, three well-appointed bedrooms offer picturesque lake views, with the primary bedroom featuring a private deck. The lower level includes a comfortable entertainment room with custom built-ins, a freestanding propane fireplace, and plenty of space to unwind. Outside, the 2700+ feet of shoreline transitions gracefully between sandy, level beaches and dramatic rock ridges, creating a landscape as diverse as it is beautiful. A 36x40 three-stall garage with steel siding provides ample storage. Modern utilities, including a drilled well and an inspected septic system, ensure ease of ownership. A rare opportunity to acquire a truly private Northwoods year-round retreat on one of Ely’s most sought-after lakes. Properties of this size and shoreline seldom come available.
Listing
Listing Status:
Pending
Contingency:
None
List Price:
$975,000
Price per sq ft:
$396
Property Type:
Single Family
City:
Ely
Garage Spaces:
3
County:
St. Louis
Year Built:
1976
State:
MN
Property Style:
2 Stories
Zip Code:
55731
Subdivision Name:
Morse Town Of
Interior
Bedrooms:
3
Bathrooms:
2
Finished Area:
2,460 ft2
Total Fireplaces:
2
Living Area:
2,460 ft2
Common Wall:
No
Appliances Included:
- Dishwasher
- Dryer
- ENERGY STAR Qualified Appliances
- Exhaust Fan
- Freezer
- Fuel Tank - Owned
- Fuel Tank - Rented
- Microwave
- Range
- Refrigerator
- Stainless Steel Appliances
- Washer
- Water Filtration System
- Water Softener Owned
Fireplace Details:
- Circulating
- Free Standing
- Gas
- Insert
- Living Room
Basement Details:
- Block
- Daylight/Lookout Windows
- Drainage System
- Finished
- Partially Finished
- Storage Space
- Sump Pump
- Walkout
Exterior
Stories:
Two
Garage Spaces:
3
Garage Size:
1,440 ft2
Air Conditioning:
Ductless Mini-Split
Foundation Size:
620 ft2
Handicap Accessible:
None
Out Buildings:
Garage(s), Kennel/Dog Run, Storage Shed
Road Responsibility:
Private Maintained Road
Heating System:
- Baseboard
- Boiler
- Fireplace(s)
- Hot Water
- Radiator
Parking Features:
- Asphalt
- Detached Garage
- Garage Door Opener
- Gravel
Unit Amenities:
- Balcony
- Ceiling Fan(s)
- City View
- Deck
- Hardwood Floors
- Kitchen Center Island
- Kitchen Window
- Natural Woodwork
- Skylight
- Vaulted Ceiling(s)
- Washer/Dryer Hookup
Road Frontage:
Private Road
Exterior Material:
- Block
- Concrete
- Frame
- Steel Siding
Roof Details:
- Age Over 8 Years
- Metal
Rooms
1/4 Baths:
None
Full Baths:
1
Half Baths:
None
3/4 Baths:
1
Bathroom Details:
- Jetted Tub
- Main Floor 3/4 Bath
- Upper Level Full Bath
Dining/Kitchen:
- Breakfast Bar
- Separate/Formal Dining Room
Laundry:
- Electric Dryer Hookup
- Laundry Room
- Main Level
- Sink
| Upper Level | Size | Sq Ft |
|---|---|---|
| Bathroom | 8 x 6 | 48 |
| Bedroom | 14 x 10 | 140 |
| Bedroom 2 | 17 x 15 | 255 |
| Bedroom 3 | 11 x 11 | 121 |
| Main Level | Size | Sq Ft |
|---|---|---|
| Bathroom | 16 x 8 | 128 |
| Dining Room | 13 x 12 | 156 |
| Kitchen | 15 x 13 | 195 |
| Laundry | 12 x 9 | 108 |
| Living Room | 19 x 13 | 247 |
| Lower Level | Size | Sq Ft |
|---|---|---|
| Great Room | 29 x 25 | 725 |
| Utility Room | 29 x 14 | 406 |
Lake & Waterfront
Waterfront Present:
Y
Waterfront View:
City Lights, East, Lake, Panoramic, South, West
WF Frontage:
2800
Waterfront:
- Lake Front
- Lake View
Lake Bottom:
- Gravel
- Rocky
- Sand
- Undeveloped
Lot & Land
Acres:
27.5
Geolocation:
47.9249380523, -91.9123353533
Lot Dimensions:
Irregular
Addl Parcels:
465002002960
Zoning:
- Residential-Single Family
- Shoreline
Lot Description:
- Accessible Shoreline
- Tree Coverage - Heavy
Schools
School District:
2190
District Phone:
2183656166
Financial & Taxes
Tax Year:
2026
Annual Taxes:
$10,975
Lender-owned:
No
Assessment Pending:
Yes
Taxes w/ Assessments:
$11,060
Association Fee Required:
No
Association Fee:
None
Miscellaneous
Fuel System:
- Oil
- Propane
Sewer System:
Mound Septic
Water System:
- Drilled
- Private
- Well
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Local Home Mortgage Professionals
Eric Bloomstrand
Branch Sales Manager
Fairway Home Mortgage NMLS#274211
612-961-2600
Eric Bloomstrand is a Branch Sales Manager at Fairway Home Mortgage with 30+ years of experience in the mortgage banking services industry. Eric has extensive skills in construction loans, FHA financing, VA loans, USDA, and first-time buyer down payment assistance programs. He is a well-qualified finance professional with a Bachelor of Science focused in Finance and Marketing from Minnesota State University, Mankato. Helping individuals acquire their dream home is his passion.
Connect with Eric today to get started with your home purchase!
Listing provided by RMLS,
courtesy of Engel & Volkers Lake Minnetonka.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.
Disclaimer: The information contained in this listing has not been verified by TheMLSonline.com and should be verified by the buyer.