Lot/land

Price cut: $25.5K (5/14)

$299,500

XXX Olson Bay Tr, Ely, MN 55731

--beds

--baths

4.87Acres

Unimproved Land

Built in ----

4.87 Acres Lot

$-- Zestimate^®

$--/sqft

$-- HOA

What's special

Fantastic lake viewsPrivate lake lotGently sloped shorelinePeaceful natural settingExcellent privacy

Beautiful Shagawa Lake parcel located on the desirable west end in Olson Bay. This private lake lot offers approximately 4.87 acres with 265 feet of shoreline, fantastic lake views, and a peaceful natural setting. The driveway is already in place and leads to a cleared building site and parking area, making it easy to envision your future Northwoods retreat. Two trails provide access down to the lake, while the gently sloped shoreline, excellent privacy, and beautiful setting on one of Ely’s most sought-after lakes create a rare opportunity to build your ideal lake getaway.

90 days

431

22

Facts & features

Property

Parking

Parking features: Gravel

Features

Has view: Yes
View description: Inland Lake, Panoramic
Has water view: Yes
Water view: Lake
Waterfront features: Inland Lake, Waterfront Access(Private)
Body of water: Shagawa
Frontage length: 265

Lot

Size: 4.87 Acres
Dimensions: 265 x 1000
Features: High, Rolling Slope

Details

Additional structures: Other
Parcel number: 465002002714

Utilities & green energy

Electric: Lake Country Power
Utilities for property: Electricity Available

Community & HOA

HOA

Has HOA: No

Location

Region: Ely

Financial & listing details

Annual tax amount: $1,698
Date on market: 4/9/2026
Cumulative days on market: 93 days
Listing terms: Cash,Conventional

Estimated market value

Not available

Estimated sales range

Not available

$1,259/mo

Price history

Date	Event	Price
5/14/2026	Price change	$299,500-7.8%
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124409 Report a problem
4/9/2026	Listed for sale	$325,000
Source: Lake Superior Area Realtors as distributed by MLS GRID #6124409 Report a problem
1/1/2026	Listing removed	$325,000
Source: Lake Superior Area Realtors as distributed by MLS GRID #6121227 Report a problem
11/14/2025	Listed for sale	$325,000
Source: Lake Superior Area Realtors as distributed by MLS GRID #6121227 Report a problem
10/8/2025	Contingent	$325,000
Source: Lake Superior Area Realtors as distributed by MLS GRID #6121227 Report a problem
8/11/2025	Listed for sale	$325,000+97%
Source: Lake Superior Area Realtors as distributed by MLS GRID #6121227 Report a problem
1/5/2025	Listing removed	$165,000-10.8%
Source: Lake Superior Area Realtors as distributed by MLS GRID #6099423 Report a problem
1/4/2022	Sold	$185,000+12.1%
Source: Lake Superior Area Realtors as distributed by MLS GRID #6099423 Report a problem
9/20/2021	Pending sale	$165,000
Source: Lake Superior Area Realtors as distributed by MLS GRID #6099423 Report a problem
9/14/2021	Listing removed	--
Source: Lake Superior Area Realtors as distributed by MLS GRID Report a problem
9/8/2021	Pending sale	$165,000
Source: Lake Superior Area Realtors as distributed by MLS GRID #6099423 Report a problem
9/2/2021	Listed for sale	$165,000-5.4%
Source: Lake Superior Area Realtors as distributed by MLS GRID #6099423 Report a problem
10/31/2020	Listing removed	$174,500
Source: Canoe Capital Realty, LLC #6089285 Report a problem
7/10/2020	Price change	$174,500-8.1%
Source: Canoe Capital Realty, LLC #6089285 Report a problem
4/14/2020	Listed for sale	$189,900
Source: Canoe Capital Realty, LLC #6089285 Report a problem

Public tax history

Tax history is unavailable.

Monthly payment

Estimated monthly payment$1,822

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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