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.
Sold for $710,000
$710,000
540 Loop Rd, Ely, MN 55731-0000
3beds
3,160sqft
Single Family Residence
Built in 2007
2.6 Acres Lot
$727,200 Zestimate®
$225/sqft
$2,635 Estimated rent
Home value
$727,200
Estimated sales range
Not available
$2,635/mo
Zestimate® history
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List your homeWhat's special
Sweeping viewsPrivate woodsIncredible viewSoaring ceilingsPrimary suiteHandcrafted log homeQuartz countertops
Zillow last checked:
Listing updated:
Listed by:
Andrea Zupancich 218-749-0159,
Z' Up North Realty
Bought with:
Lisa Poppenhagen, MN 40430498
Ely Realty
Source: Lake Superior Area Realtors as distributed by MLS GRID,MLS#: 6123162
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 3
- Bathrooms: 2
- Full bathrooms: 1
- 3/4 bathrooms: 1
- Main level bedrooms: 1
Rooms
- Room types: Family/Rec, Utility Room
Bedroom
- Level: Main
- Area: 110 Square Feet
- Dimensions: 11 x 10
Bedroom
- Level: Main
- Area: 100 Square Feet
- Dimensions: 10 x 10
Bedroom
- Level: Lower
- Area: 160 Square Feet
- Dimensions: 16 x 10
Family room
- Level: Lower
- Area: 1952 Square Feet
- Dimensions: 122 x 16
Kitchen
- Level: Main
- Area: 130 Square Feet
- Dimensions: 13 x 10
Living room
- Level: Main
- Area: 299 Square Feet
- Dimensions: 23 x 13
Loft
- Level: Upper
- Area: 783 Square Feet
- Dimensions: 27 x 29
Utility room
- Level: Lower
- Area: 132 Square Feet
- Dimensions: 11 x 12
Heating
- Wood, Electric
Cooling
- Window Unit(s)
Appliances
- Included: Water Heater-Electric, Dishwasher, Dryer, Microwave, Range, Refrigerator, Washer
Features
- Basement: Full,Finished,Walkout,Bath,Bedrooms,Family/Rec Room,Utility Room,Washer Hook-Ups,Dryer Hook-Ups
- Number of fireplaces: 1
- Fireplace features: Wood Burning
Interior area
- Total interior livable area: 3,160 sqft
- Finished area above ground: 1,580
- Finished area below ground: 1,580
Property
Parking
- Total spaces: 2
- Parking features: Detached
- Garage spaces: 2
Features
- Patio & porch: Deck, Porch
- Has view: Yes
- View description: Inland Lake
- Has water view: Yes
- Water view: Lake
- Waterfront features: Inland Lake, Waterfront Access(Private)
- Body of water: Farm
- Frontage length: 220
Lot
- Size: 2.6 Acres
- Dimensions: 225.00 x 475.00
Details
- Foundation area: 840
- Parcel number: 28631133337
- Zoning description: Residential
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Traditional
- Property subtype: Single Family Residence
Materials
- Log, Frame/Wood
- Foundation: Concrete Perimeter
- Roof: Asphalt Shingle
Condition
- Previously Owned
- Year built: 2007
Utilities & green energy
- Electric: City Of Ely
- Sewer: Private Sewer
- Water: Drilled
Community & HOA
HOA
- Has HOA: No
Location
- Region: Ely
Financial & listing details
- Price per square foot: $225/sqft
- Tax assessed value: $483,000
- Annual tax amount: $2,615
- Date on market: 12/15/2025
- Cumulative days on market: 7 days
- Listing terms: Cash,Conventional,VA Loan
Price history
| Date | Event | Price |
|---|---|---|
| 2/6/2026 | Sold | $710,000-1.4%$225/sqft |
Source:  Lake Superior Area Realtors as distributed by MLS GRID #6123162 Report a problem | ||
| 1/18/2026 | Pending sale | $719,900$228/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6123162 Report a problem | ||
| 12/10/2025 | Listed for sale | $719,900+114.9%$228/sqft |
Source: Range AOR #149371 Report a problem | ||
| 2/5/2021 | Sold | $335,000$106/sqft |
Source: Public Record Report a problem | ||
| 1/12/2021 | Pending sale | $335,000$106/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6094388 Report a problem | ||
| 1/6/2021 | Contingent | $335,000$106/sqft |
Source: Lake Superior Area Realtors as distributed by MLS GRID #6094388 Report a problem | ||
| 12/22/2020 | Pending sale | $335,000$106/sqft |
Source: Bear Island Land Co., Inc #6094388 Report a problem | ||
| 12/16/2020 | Listed for sale | $335,000$106/sqft |
Source: Bear Island Land Co., Inc #6094388 Report a problem | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $2,615 -5.3% | $479,920 -0.8% |
| 2024 | $2,761 +49.6% | $483,626 +1.1% |
| 2023 | $1,845 +8.9% | $478,300 +125.8% |
| 2022 | $1,694 +6.2% | $211,825 |
| 2021 | $1,596 -26.9% | $211,825 |
| 2020 | $2,184 +10.4% | $211,825 -13.1% |
| 2018 | $1,978 +17.2% | $243,800 -3.1% |
| 2017 | $1,688 +928.8% | $251,600 +10.2% |
| 2016 | $164 -90.3% | $228,300 |
| 2015 | $1,691 | $228,300 |
| 2014 | $1,691 +18.5% | -- |
| 2013 | $1,427 | -- |
Find assessor info on the county website
Neighborhood: 55731
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- Minnesota
- Lake County
- Ely
- 55731
- 540 Loop Rd
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