Listed at
$1,380,000
$561/sqft

Morse Town Of

1852 Grant McMahan Boulevard, Ely, MN, 55731
3  Bedrooms2  Bathrooms2,460  Square Feet27.5  Acres
Days on market619
Year built1976
Garage spaces3
TypeResidential
Est. $38,400buyer credit when you buy with SODL
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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.

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Home facts

Property typeResidential
Property subtypeSingle Family Residence
Year built1976
LevelsTwo
Living area2,460 sqft
Above-grade finished1,840 sqft
Below-grade finished620 sqft
Lot size27.5 acres (irregular)
Days on market619
ListedJan 17, 2025
MLS #NST6639470
CountySt. Louis
SubdivisionMorse Town Of
Parcel #465002002962

Facts & features

Interior

Bedrooms
3
Bathrooms
2
Bath breakdown
1 full / 1 3/4
Heating
Baseboard, Boiler, Fireplace(s), Hot Water, Radiator(s)
Cooling
Ductless Mini-Split
Appliances
Dishwasher, Dryer, ENERGY STAR Qualified Appliances, Exhaust Fan, Freezer, Fuel Tank - Owned, Fuel Tank - Rented, Water Filtration System, Microwave, Range, Refrigerator, Stainless Steel Appliances, Washer, Water Softener Owned

Property

Levels / stories
Two
Garage
3 spaces · 1,440 sqft
Parking features
Detached, Gravel, Asphalt, Garage Door Opener
Other structures
Additional Garage, Dog Kennel, Storage Shed
View
City Lights, East, Lake, Panoramic, South, West
Waterfront
Shagawa · Lake Front, Lake View

Construction

Property type
Residential
Property subtype
Single Family Residence
Construction materials
Steel Siding
Foundation
620 sqft
Roof
Age Over 8 Years, Metal
Year built
1976

Utilities

Water
Drilled, Private, Well
Sewer
Mound Septic
Electric
Circuit Breakers, 150 Amp Service

Community & HOA

Subdivision
Morse Town Of
HOA
No HOA
School district
Ely

Financial & listing details

Annual tax
$9,637 (2024)
Tax with assessments
9722.0000
Listed
Jan 17, 2025
Days on market
619

Interior details

Total bathrooms2
Full baths1
3/4 baths1
Half baths0
1/4 baths0
BasementBlock, Daylight/Lookout Windows, Drainage System, Finished, Partially Finished, Storage Space, Sump Pump, Walkout
HeatingBaseboard, Boiler, Fireplace(s), Hot Water, Radiator(s)
CoolingDuctless Mini-Split
Fireplaces2
AppliancesDishwasher, Dryer, ENERGY STAR Qualified Appliances, Exhaust Fan, Freezer, Fuel Tank - Owned, Fuel Tank - Rented, Water Filtration System, Microwave, Range, Refrigerator, Stainless Steel Appliances, Washer, Water Softener Owned
AccessibilityNone

Exterior & lot

RoofAge Over 8 Years, Metal
Foundation area620 sqft
Lot featuresAccessible Shoreline, Tree Coverage - Heavy
Road frontagePrivate Road
Road responsibilityPrivate Maintained Road
ZoningShoreline,Residential-Single Family

Utilities

Water sourceDrilled, Private, Well
SewerMound Septic

Parking & garage

ParkingDetached, Gravel, Asphalt, Garage Door Opener
Garage spaces3
Garage size1,440 sqft

Financial details

Annual taxes$9,637
Tax year2024
Taxes w/ assessments9722.0000
Assessment pendingYes
Lender ownedNo
Short saleNo
ForeclosureNo

Schools

District number696
District phone218-365-6166
High schoolEly
SODL flat fee brokerage
$38,400Estimated buyer credit
SODL platform fee $3,000Your buyer credit $38,400

How SODL buyer credits work

When you buy with SODL, the brokerage charges a flat $3,000 platform fee at closing. The remaining buyer-side commission (typically 3% of the purchase price) is credited directly back to you at closing, reducing the cash you bring to the table.

  • Tour homes with SODL’s flexible showing network
  • Submit offers and manage your transaction through the platform
  • Keep more money at closing through transparent flat-fee pricing

A clear, modern way to buy with expert guidance and meaningful savings.

Estimated monthly payment

$8,516/mo
Principal & interest$7,252
Property taxes$803
Home insurance (est.)$460
%
$276,000
0%50%
Credit score
Loan term

These payment estimates are for illustration purposes only and may vary based on your lender, interest rate, credit profile, down payment, taxes, insurance, and loan terms. For a more accurate monthly payment estimate, speak with your lender or connect with SODL’s preferred lending partner.

Location

1852 Grant McMahan Boulevard, Ely, MN, 55731

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Listing information

MLS #NST6639470
StatusActive
Last updatedJan 19, 2025, 2:17 AM
Originally listedJan 17, 2025, 8:10 PM
Listing officeEngel & Volkers Lake Minnetonka

Listing information provided courtesy of the MLS. This information is deemed reliable but is not guaranteed.

Based on information submitted to the MLS GRID. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information.