Charming south facing 2 BR 1 BA year round home located on Fall Lake with 375+/- feet of sand beach shoreline. The home is situated close to the waters edge, and includes 12 acres of boreal forest. Major updates have happened in the past 10 years and it's transformed from a seasonal cabin to year round. Improvements are: a new insulated roof, all the interior logs were hand sanded and chinked, numerous new windows, the beautiful lakeside porch is now 4 season and accessed through the french paned doors. The kitchen is new with beautiful tile flooring, cabinets, granite countertops and stainless appliances. Previously accessed from the outside, interior stairs were added to access the partially finished very clean walkout basement; location of the newer propane furnace, mechanicals, laundry and bathroom. Lovely details: include antique light fixtures, freestanding wood stove, wood floors, vaulted living room, open to the kitchen and dining room. At the edge of the BWCAW; 1.5 mile boat ride from the dock to the BW and only 7 miles from Ely. So much history to this charming structure! This authentic 1930's log cabin was moved in the 1960s over the ice from Basswood Lake to Fall Lake; in 1985 it was placed on a new walkout basement foundation, new septic and indoor bath added in 1998, and new cedar siding in 2002. Includes both an open pole barn and enclosed one, two wood sheds, septic, and sandpoint well. Behind this property is the 350 acres U of M Wilderness Research Center. Secluded, peaceful and one of a kind property.
Sold for $682,000 on 09/05/24
$682,000
470 Shady Ln, Ely, MN 55731
2beds
1,195sqft
Single Family Residence
Built in 1930
12.11 Acres Lot
$636,300 Zestimate®
$571/sqft
$1,656 Estimated rent
Home value
$636,300
$554,000 - $725,000
$1,656/mo
Zestimate® history
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What's special
Zillow last checked: 8 hours ago
Listing updated: September 08, 2025 at 04:24pm
Listed by:
Patricia Bulinski 218-349-5595,
Bear Island Realty LLC
Bought with:
Patricia Bulinski, MN 20274047
Bear Island Realty LLC
Source: Lake Superior Area Realtors,MLS#: 6115037
Facts & features
Interior
Bedrooms & bathrooms
- Bedrooms: 2
- Bathrooms: 1
- 3/4 bathrooms: 1
- Main level bedrooms: 1
Bedroom
- Description: Wood floors, Lake facing windows 2 sides, beamed ceilings
- Level: Main
- Area: 130 Square Feet
- Dimensions: 10 x 13
Bedroom
- Description: Wood floors, beamed ceiling
- Level: Main
- Area: 154 Square Feet
- Dimensions: 11 x 14
Bathroom
- Description: Shower, HW heater, Pump for well, cement floor
- Level: Lower
- Area: 72 Square Feet
- Dimensions: 8 x 9
Other
- Description: Doug fir floors, French doors
- Level: Main
- Area: 144 Square Feet
- Dimensions: 6 x 24
Kitchen
- Description: Combined Kitchen and Dining Room
- Level: Main
- Area: 210 Square Feet
- Dimensions: 10 x 21
Living room
- Description: Hardwood floors, vaulted ceiling, freestanding wood stove
- Level: Main
- Area: 336 Square Feet
- Dimensions: 16 x 21
Heating
- Fireplace(s), Forced Air, Wood, Propane
Features
- Basement: Full
- Number of fireplaces: 1
- Fireplace features: Free Standing
Interior area
- Total interior livable area: 1,195 sqft
- Finished area above ground: 1,123
- Finished area below ground: 72
Property
Parking
- Total spaces: 2
- Parking features: Carport, Detached
- Garage spaces: 2
- Has carport: Yes
Features
- Waterfront features: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Gravel, Rocky, Sand, Shore-Accessible)
- Body of water: Fall
- Frontage length: 375
Lot
- Size: 12.11 Acres
- Dimensions: 1400 x 375
- Features: Accessible Shoreline, Irregular Lot, Many Trees, High, Level, BWCA Access
- Residential vegetation: Heavily Wooded
Details
- Foundation area: 1092
- Parcel number: 28637117040 28637117050
Construction
Type & style
- Home type: SingleFamily
- Architectural style: Rustic
- Property subtype: Single Family Residence
Materials
- Wood, Log Home
- Foundation: Concrete Perimeter
- Roof: Metal
Condition
- Previously Owned
- Year built: 1930
Utilities & green energy
- Electric: Lake Country Power
- Sewer: Mound Septic, Private Sewer
- Water: Sand Point
Community & neighborhood
Location
- Region: Ely
Price history
| Date | Event | Price |
|---|---|---|
| 9/5/2024 | Sold | $682,000+0.4%$571/sqft |
Source:  Lake Superior Area Realtors #6115037 | ||
| 7/22/2024 | Pending sale | $679,000$568/sqft |
Source: Lake Superior Area Realtors #6115037 | ||
| 7/21/2024 | Listed for sale | $679,000+81.1%$568/sqft |
Source: Lake Superior Area Realtors #6115037 | ||
| 8/29/2014 | Sold | $375,000$314/sqft |
Source:  NorthstarMLS as distributed by MLS GRID #4496738 | ||
Public tax history
| Year | Property taxes | Tax assessment |
|---|---|---|
| 2025 | $4,311 +3.7% | $598,000 -0.7% |
| 2024 | $4,157 +7.4% | $602,100 +2.2% |
| 2023 | $3,871 -1.1% | $589,000 +74.8% |
Find assessor info on the county website
Neighborhood: 55731
Nearby schools
GreatSchools rating
No schools nearby
We couldn't find any schools near this home.
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