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3231 Wolf Lake Rd

Ely, MN 55731

5 beds
6 baths
5,250 sqft
~20 acre lot
$742 per sqft
2007 build
– on site

Ready to make this dream estate your legacy? Burntside Lake Home on Outlet Bay in Ely is now available. Whether watching trout swim upstream, observing eagles dive for fish, or enjoying the serenity of the woodland surroundings, you'll find countless reasons to stay and call Greystone home. Unparalleled living experience in Ely, MN. This one-of-a-kind custom home 5BR/6BA home is being offered for the very first time. Nestled on a sprawling 20-acre estate, this property boasts 1155 ft of pristine shoreline along Burntside Lake's Outlet Bay and the Burntside River. Surrounded by the beauty of nature, this estate is designed for those who seek both luxury and adventure. Greystone offers many features, too many to list, but include: 2 double sided Tulikivi green soapstone fireplaces (one with a pizza oven), two laundry rooms (main floor and 2nd flr), elevator, secret underground passage to the garage and guest rooms, outdoor kitchen, boathouse with patio, walking paths, pole bldg, She Shed /Potting Shed, reclaimed hardwood floors, wood paneled walls, Creston Security System, Folding Marvin Windows with electronic screens, real stone facade, Fir Douglas flooring, knotty alder custom cabinets, and the list keeps going!

Listing courtesy of DAAR / Z' Up North Realty

Last checked: Checking… • Last updated Jul 1, 2025 •

MLS# 6114471 —

The Building

Construction Type:

Frame/Wood
Roof:

Metal
Stories:

2
Exterior:

Stone, Wood
Windows:

Double Glazed, Energy Windows, Wood Frame

Interior

Virtual Tour URL:

Virtual Tour
Amenities:

Ceiling Fans, Eat-In Kitchen, Ethernet Wired, Garage Door Opener, Hardwood Floors, Hot Tub, Kitchen Center Island, Natural Woodwork, Sauna, Security System, Tiled Floors, Walk-In Closet, Wet Bar, Beamed Ceilings, Panelled Walls, Patio Door, Main Floor Laundry, 2nd Floor Laundry
Dining:

Breakfast Bar, Combine with Kitchen, Combine with Living Room, Eat-In Kitchen, Informal Dining Room
Extra Rooms:

Den/Office, Enclosed Porch, Family/Rec, Mud Room, Spa/Sauna, Sitting/Parlor, Sunrm/Solarium, Utility Room, Media Room, 4 Season Porch, Fitness Room, Foyer, Wine Cellar
Fireplace:

yes
Fireplaces:

4
Fireplace Type:

Multiple - See Remarks
Basement Style:

Full
Basement Features:

Egress Windows, Finished, Walkout, Bath, Den/Office, Family/Rec Room, Fireplace, Kitchen, Utility Room
Basement Material:

Concrete Block

Financial & Terms

Potential Short Sale:

no

Location

Latitude:

47.892767
Longitude:

-92.023537

The Property

Subtype:

SF/Attached
Lot Description:

accessible shoreline, irregular lot, medium tree coverage, underground utilities, Level, Pond, Rolling, BWCA Area
Amenities-Exterior:

Balcony, Deck, Dock, Patio, Outdoor Kitchen, Gutter/Downspout
View:

Bay, River
20

Acres:
Road Frontage:

County
Road Maintenance:

None
Road Between Waterfront and Home:

no
Waterfront Name:

Burntside
Waterfront:

yes
Outbuildings:

Boathouse, Pole Building, Guesthouse, Studio
Classification:

NonHomestead
Property Adjoins Public Land:

no

Listing Agent

Contact info:

Baths

Bath Description:

3/4 Basement, Full Master, 1/2 Main Floor, Rough In, 3/4 Upper, Full Upper
Main Floor Bath:

Yes

The Listing

Terms:

Cash, Conventional

Heating & Cooling

Heat:

Forced Air, Propane
Air Conditioning:

Central

Utilities

Sewer:

Private
Water:

Private
Internet Options:

Fiber Optic

Appliances

Appliances:

Cooktop, Dishwasher, Dryer, Microwave, Range/Stove, Refrigerator, Wall Oven, Washer

Schools

School District:

Ely #696

The Community

Waterfront Description:

Inland Lake
Waterfront Access:

Private

Parking

Garage Type:

Detached, Multiple
Garage Features:

Apartment, Bathroom, Bedroom, Drains, Electrical Service, Heat, Insulation, Slab
Garage Dimensions:

25x32
Parking/Driveway:

Driveway - Gravel

Extra Units

Outbuilding Description:

Traditional

Monthly cost estimate

Asking price

$3,900,000

Expense	Monthly cost
Mortgage	$20,883
Taxes	$1,237
Insurance	$1,072
Utilities	$161 See report
Total	$23,353/mo.^*
	^*This is an estimate

Explore the Area

My Commute

From

Walk Score®

Provided by WalkScore® Inc.

Bike Score®

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Air Pollution Index

Provided by ClearlyEnergy

Sale history

Date	Event	Source	Price	% Change
7/1/25 Jul 1, 2025	Relisted	DAAR	$3,900,000
3/24/25 Mar 24, 2025	Pending	DAAR	$3,900,000
3/12/25 Mar 12, 2025	Price Changed	DAAR	$3,900,000	-13.3%

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This townhouse located in MN 55731 is currently for sale for $3,900,000. 3231 Wolf Lake Rd is a 5,250 square foot townhouse with 5 beds and 6 baths that has been on Estately for 381 days. This townhouse is in the attendance area of Ely Memorial School and Washington Elementary School.

Listing Courtesy of: DAAR and Z' Up North Realty.

The information included in this listing is provided exclusively for consumers’ personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The information on each listing is furnished by the owner and deemed reliable to the best of his/her knowledge, but should be verified by the purchaser. Duluth MLS / DAAR and Estately assume no responsibility for typographical errors, misprints or misinformation. This property listing is offered without respect to any protected classes in accordance with the law.