An extremely “rare opportunity” to buy a private island on Lake Minnetonka has just hit the market for $7,250,000.
Located in Shorewood, MN, the 2-acre legacy compound on Gale Island, surrounded by 1,841 feet of luxurious lakeshore, features several structures:
“Lake Minnetonka is the lake in Minnesota,” says listing agent Jeffrey Dewing of Coldwell Banker Realty. “It’s a very storied and sought-after destination, and it’s very rare for an island to come to market. This one has been in the same family for 53 years, which makes it even rarer.”
It is also located just a short boat ride from Excelsior and Wayzata, which have lots of restaurants, shopping, and a vibrant scene.
“The property will likely be used as a secondary residence based on logistics, but it potentially could be a year-round property,” says Dewing. “There are three main cabins that were used by different family members, so it is beautifully suited for multigenerational living.”
Dewing says the buyer pool he is seeing has been unique.
“It could be acquired by another family and used like this was for a family retreat, or it could be used in a multitude of different ways,” he says. “There have been weddings on the island, and it has such a fun history.”
The island was originally purchased from the federal government in 1871 by Harlow A. Gale, a Minneapolis real estate developer, and remained in the Gale family for nearly a century. It was later owned by St. Olaf College and used as a retreat before returning to private ownership.
“There aren’t many island estates like this that become available,” notes Dewing. “It’s an incredibly unique opportunity.”
