An Orono estate on Lake Minnetonka has sold for the third time in the past year; this time for just over $6.8 million.
The five-bedroom, seven-bathroom home, which at one point had over 600 feet of shoreline on the lake’s Crystal Bay, had sold earlier this year for nearly $8.6 million to an entity tied to Medina-based luxury homebuilder Swanson Homes. Before that, it changed hands for $7.63 million last October.
But the property, located at 3017 North Shore Drive, looks different than before. That’s because Swanson Homes split the lot and demolished an existing western garage in order to carve out a new one-acre lot next door. Initially built by Swanson Homes in 2017, the existing 10,000-square-foot home now has just around 2.5 acres.
A team with Swanson Homes is seeking a buyer for the newly created adjacent property for $3.3 million. That site, located at 3055 North Shore Drive, will have 140 feet of riprap, sandy-beach shoreline, according to agent Blake Swanson, of New Haus Real Estate. Swanson is part of the Swanson family that runs Swanson Homes.
The team executed a “creative solution” to create two parcels of land at the site, while still maintaining the integrity of the existing home, Swanson said.
“It’s such a unique deal,” he said.
Swanson Homes plans to rebuild a garage for the existing home this fall, Swanson said.
The most recent deal on the existing home closed Sept. 15, according to an electronic certificate of real estate value filing with the Minnesota Department of Revenue.
Features of the home include vaulted ceilings, floor-to-ceiling windows, a wine cellar, an exercise room sunroom, sauna, movie theater, sports court and billiards room, the Business Journal previously reported.
Last fall’s sale of the property landed it on the Business Journal’s 2022 list of the largest residential real estate sales in the Twin Cities as No. 6. Selling earlier this year, the home would have placed sixth on that list, with the most recent sale positioned in ninth.
This year so far has seen some high-priced sales, including the Lake Minnetonka home of former Minnesota Vikings tight end Kyle Rudolph that sold for $13.5 million, Twin Cities restaurateur Kam Talebi’s home that sold for $7.8 million, as well as an Orono home that was purchased by Minnesota Twins player Carlos Correa for $7.5 million, according to previous Business Journal reports.