Lake Minnetonka homes span the full gamut, from lakeside mega-mansions to tear-downs worth less than the dirt they sit on. The most expensive houses on Lake Minnetonka are typically on the north or eastern side of the lake, as that area has closer proximity to the major highways leading to the Twin Cities and airport.
I’ve been waiting to publish this article (and maybe it’s still a little too early, because the house hasn’t technically sold yet). But I’ve been watching this build go up over the past few years, and as of yesterday it officially hit the public market with an asking price of $55,000,000.
Minnesota’s record sale price currently stands at $17,500,000.
Overview
This property is located in Woodland at 2770 Gale Road, just south of Breezy Point. At the $55,000,000 list price, that’s $1,898 per square foot!
- Acreage: 8 acres
- Lakeshore: 655 feet
- Orientation: West-facing
- Size: 28,980 square feet
- Bedroom: 7 Private Suites + 12-Bed Bunk Room + 2 Guest Houses
- Garage Stalls: 6 Main Level + 10 Lower Level
History
I’ll keep this brief out of respect for the family. This home was not built for sale. It was designed by successful entrepreneur, who unfortunately passed before the build was completed.
The house sits on two property IDs. The largest is 6.9 acres, and is a water-locked & land-locked (no road access). To the southeast is a smaller 1.1 acre that provides access to Gale Road. The lots were purchased for $9M, and the old house was torn-down. Talk about expensive dirt!
He started designing the home in 2017, but passed unexpected in 2023. The build was completed in 2024, and was privately marketed for $68,000,000 until it was finally publicly listed yesterday at $55,000,000.
The last time we’ve seen a number like this was when the old Pillsbury mansion (“Southways“) on Bracketts Point was listed for $53,500,000 in 2007. The sellers ended up slashing the price to $24,000,000, but after still finding no buyer, they subdivided the property into five separate lots and sold them off individually.
There are probably three or four dozen homes on Lake Minnetonka that could break the current record of $17.5M… if only they were put up for sale. If this listing sells for even half its current asking price, it will set a state-wide record for most expensive home sale.
Let’s Look Inside
When the Wall Street Journal covered the off-market listing last year, they noted that the master bathroom featured $750,000 of Italian marble and a 1,400 pound custom carved marble tub. Further amenities include a spa, Himalayan salt room, movie theater, two bowling lanes, and a cigar lounge.
Time Will Tell
This house has few peers. There are probably less than a half dozen homes on Lake Minnetonka that could list for over $50,000,000. But this is the only one that has actually been listed for sale, and for which we have detailed interior photographs, so it stands alone in that regard.
Until the house actually sells, we can’t say it has the official record for Most Expensive Home (Sold) on Lake Minnetonka (and in all of Minnesota)… But it’s looking likely.
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