Want to live in serene solitude? Buy this modern log-style home on a private island in the middle of Lake Vermilion.
The bank-owned property on Eagle Island is on the market for $1.495 million — and that includes all the furnishings.
It’s just a five-minute boat ride to your own island from Shamrock Landing, where staff gases up and stores your watercraft in a year-round “boat condo.” In the winter, you can drive a snowmobile across snow and ice to get to the retreat.
The previous owners’ unfortunate loss will be someone else’s gain. A Minnesota couple bought the unoccupied island near Tower, Minn., in the mid 2000s, and began to gradually construct their ultimate dream abode.
The home was 75 percent completed when the economy and housing market crashed. Unable to meet financial commitments, the couple defaulted on the loan. Frandsen Bank foreclosed on the property in 2015, said Jim Ertz, vice president of real estate investments.
“We decided to finish it off and sell it as a completed home,” he said. By 2017, the Montana spruce log home, with three bedrooms and five bathrooms, was done.
The four-level, 4,118-square-foot dwelling is composed of wood, stone and metal, and reflects high-quality craftsmanship. “It’s an interesting blend of northwoods and industrial,” said Tim Lillquist, the Coldwell Banker Burnet agent selling the property. The bank even filled the rooms with furniture, an eclectic blend of modern and rustic pieces.
The log home sits on 5.5 acres, and is only about 200 feet from the shoreline. A high observation deck extends from a tower for gazing at the dense woods and Lake Vermilion beyond.
“It’s called Eagle Island because eagles nest in the towering pines,” said Ertz.
Eagle Island is among 365 islands in Lake Vermilion, which spans more than 40,000 acres, making it one of the biggest lakes in Minnesota.
• Two-story wood-burning fireplace crafted from local Ely greenstone ledge rock.
• Large foyer with stained and stamped concrete floor.
• Custom-designed, electric-powered vintage-look elevator.
• Fully equipped kitchen with handcrafted hickory cabinets, soapstone countertops and center island and walk-in pantry.
• Two boat docks on the shoreline.
• Open porch/covered patio accented with gas lanterns.
• Exercise room equipped with an elliptical exercise machine.
• Home office has custom leather furnishings and large-screen TV.
• Bedroom and full bath in the walkout lower level.
• Nearby towns are Cook, Tower and Ely.
• Lake Vermilion has an entry point at Trout Lake to the Boundary Waters Canoe Area Wilderness.
Tim Lillquist, Coldwell Banker Properties North, 612-834-5769, has the listing.