This Northwoods two bedroom, one bath cabin with drilled well and compliant septic can be enjoyed year-round! The open floor plan features beautiful natural woodwork throughout, a cozy woodstove in the living room, a main floor bedroom and bathroom, and an open sleeping loft above—perfect for guests or additional space. Set on 5.75 private acres overlooking a scenic pond, this property offers the peaceful setting you’ve been looking for, with plenty of room to explore and unwind. Included is an additional parcel on Fall Lake, providing direct access to the renowned Boundary Waters Canoe Area Wilderness—a rare opportunity for paddling, fishing, and world-class outdoor adventure right at your fingertips. Whether you’re enjoying quiet mornings by the water, evenings around the fire, or year-round recreation like hiking, snowmobiling, and exploring the surrounding wilderness, this property is a wonderful, private up-north retreat that truly captures the best of Minnesota’s Northwoods lifestyle.
For sale
Price cut: $30K (6/30)
$249,000
296 Shady Ln, Ely, MN 55731
2beds
912sqft
Single Family Residence
Built in 1998
5.75 Acres Lot
$-- Zestimate®
$273/sqft
$-- HOA
What's special
Open sleeping loft aboveOverlooking a scenic pondOpen floor planBeautiful natural woodwork throughout
- 73 days |
- 1,417 |
- 56 |
Zillow last checked:
Listing updated:
Listed by:
Lori Schulze 218-343-1787,
Keller Williams Classic Realty NW - Ely,
Heather Franciskovich 218-235-3895,
Keller Williams Classic Realty NW - Ely
Source: Lake Superior Area Realtors as distributed by MLS GRID,MLS#: 6124796
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Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- 3/4 bathrooms: 1
- Main level bedrooms: 1
Bedroom
- Level: Main
- Area: 120 Square Feet
- Dimensions: 10 x 12
Kitchen
- Description: Eat in kitchen with dining space
- Level: Main
- Area: 108 Square Feet
- Dimensions: 9 x 12
Living room
- Description: Great room
- Level: Main
- Area: 108 Square Feet
- Dimensions: 9 x 12
Loft
- Description: Loft bedroom
- Level: Upper
- Area: 240 Square Feet
- Dimensions: 10 x 24
Heating
- Fireplace(s), Wood
Features
- Has basement: Yes
- Number of fireplaces: 1
- Fireplace features: Free Standing
Interior area
- Total interior livable area: 912 sqft
- Finished area above ground: 912
- Finished area below ground: 0
Property
Parking
- Parking features: None
Features
- On waterfront: Yes
- Waterfront features: Pond, Waterfront Access(Private)
- Body of water: Other - See Remarks
- Frontage length: 600
Lot
- Size: 5.75 Acres
- Dimensions: 300 x 800, 50 x 110
Details
- Foundation area: 672
- Parcel number: 28631118045, 28637518270 & 18315
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Bungalow
- Property subtype: Single Family Residence
Materials
- Wood, Frame/Wood
Condition
- Previously Owned
- Year built: 1998
Utilities & green energy
- Electric: Lake Country Power
- Sewer: Private Sewer, Mound Septic
- Water: Drilled
Community & HOA
HOA
- Has HOA: No
Location
- Region: Ely
Financial & listing details
- Price per square foot: $273/sqft
- Tax assessed value: $7,400
- Annual tax amount: $1,366
- Date on market: 4/28/2026
- Cumulative days on market: 73 days
Estimated market value
Not available
Estimated sales range
Not available
Not available
Price history
| Date | Event | Price |
|---|---|---|
| 6/30/2026 | Price change | $249,000-10.8%$273/sqft |
Source:  Lake Superior Area Realtors as distributed by MLS GRID #6124796 Report a problem | ||
| 4/28/2026 | Listed for sale | $279,000-6.7%$306/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124796 Report a problem | ||
| 1/17/2026 | Listing removed | $299,000$328/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114954 Report a problem | ||
| 9/17/2025 | Price change | $299,000-3.2%$328/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114954 Report a problem | ||
| 7/14/2025 | Price change | $309,000-3.1%$339/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114954 Report a problem | ||
| 6/28/2025 | Price change | $319,000-3%$350/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114954 Report a problem | ||
| 7/17/2024 | Listed for sale | $329,000+176.5%$361/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6114954 Report a problem | ||
| 6/2/2017 | Sold | $119,000$130/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6021277 Report a problem | ||
| 3/13/2017 | Pending sale | $119,000$130/sqft |
Source: Bear Island Land Co., Inc #6021277 Report a problem | ||
| 4/5/2016 | Listed for sale | $119,000-8.4%$130/sqft |
Source: Bear Island Land Co., Inc #6021277 Report a problem | ||
| 12/12/2015 | Listing removed | $129,900$142/sqft |
Source: Bear Island Land Co., Inc #2195400 Report a problem | ||
| 8/14/2015 | Listed for sale | $129,900-7.1%$142/sqft |
Source: Bear Island Land Co., Inc #2195400 Report a problem | ||
| 2/26/2015 | Listing removed | $139,900$153/sqft |
Source: Bear Island Land Co., Inc #6002627 Report a problem | ||
| 6/15/2014 | Listed for sale | $139,900$153/sqft |
Source: Bear Island Land Co., Inc #6002627 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $46 +4.5% | $7,400 +2.8% |
| 2024 | $44 -70.7% | $7,200 |
| 2023 | $150 -17.6% | $7,200 -64.7% |
| 2022 | $182 +2.8% | $20,400 |
| 2021 | $177 -10.7% | $20,400 |
| 2020 | $198 -8% | $20,400 -11.7% |
| 2018 | $215 -13.3% | $23,100 |
| 2017 | $248 -0.9% | $23,100 -15.1% |
| 2016 | $251 +0.3% | $27,200 -1.4% |
| 2015 | $250 | $27,600 |
| 2014 | $250 +18.2% | -- |
| 2013 | $211 -7.1% | -- |
| 2012 | $227 | -- |
| 2011 | -- | -- |
| 2010 | $222 | -- |
Find assessor info on the county website
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Explore the cost of this home by adjusting the details. Changes won't be saved.All calculations are estimates and provided by Zillow, Inc. for informational purposes only. Actual amounts may vary.
HOA fees may include property taxes on listings classified as Co-Ops. Contact the listing agent and/or owner for fee details.
Mortgage interest rates are dependent on a number of factors, including credit score, down payment, and repayment length. Interest rate data provided by Zillow Group Marketplace, Inc. as of 1/1/1970 from various mortgage lenders with which we have lead or other similar arrangements; the Estimated Payment is an average of those rates.
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Climate risks
Neighborhood: 55731
Nearby schools
GreatSchools rating
No schools nearby
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- Minnesota
- Lake County
- Ely
- 55731
- 296 Shady Ln
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