540 Loop Rd

Ely, MN 55731

$719,900
Price
3
Beds
2,480 Sq. Ft.
$290 / Sq. Ft.
2,480
Sq. Ft.
$290
per Sq. Ft.
Active Under Contract
Active Under Contract

Description

Here's a Northwoods retreat people dream about but rarely find. This handcrafted log home on Farm Lake wraps you in warmth the moment you walk in — over 2,400 sq ft, wrapped in timber and sunlight. The main level is designed for togetherness: new custom kitchen cabinets, quartz countertops, a comfortable dining area, and a living room anchored by a cozy wood-burning stove. Two bedrooms & a full bath complete this level. Head up to the 700+ sq ft loft, with soaring ceilings, built-ins, and sweeping...Here's a Northwoods retreat people dream about but rarely find. This handcrafted log home on Farm Lake wraps you in warmth the moment you walk in — over 2,400 sq ft, wrapped in timber and sunlight. The main level is designed for togetherness: new custom kitchen cabinets, quartz countertops, a comfortable dining area, and a living room anchored by a cozy wood-burning stove. Two bedrooms & a full bath complete this level. Head up to the 700+ sq ft loft, with soaring ceilings, built-ins, and sweeping views make the space feel tucked-away and inspiring an artist’s nook or simply reading a book while the pines sway outside your window. The walk-out level is its own retreat, featuring the Primary Suite, a utility/laundry room, and a rec room made for hosting. Private woods take you to the 220 ft of shoreline. Incredible view from the custom built 100 ft perm newer dock, complete with benches and a kayak step, makes slipping into the lake a breeze Best of all the BWCA is just a paddle away.

Property Details for 540 Loop Road

Architectural Style
Traditional
View
Inland Lake
Zoning Jurisdiction
Residential-Single Family
LISTING UPDATED: 12/23/2025 02:14 PM

Property Details for 540 Loop Road

StatusActive Under Contract
MLS #7000151
Days on Compass1
Taxes$2,502 / year
HOA Fees-
Condo/Co-op Fees-
Compass TypeSingle Family
MLS TypeResidential / Single Family Detached
Year Built2005
Lot Size2.62 AC / 114,127 SF
CountyLake County

Location

Listing Courtesy of Z'Up North Realty, Inc.
Add your commute

Building Information for 540 Loop Road

Stories-Year Built2005Building Size-Lot Size2.62 AC / 114,127 SF

Payment Calculator

$3,766 per month

30 year fixed, 6.28% Interest

Principal and Interest

$3,557

Property Taxes

$209

HOA Dues

$0

The Payment Calculator is for illustrative purposes only.

Property Information for 540 Loop Road

Summary
Location and General Information
  • City Name: Ely
  • County Or Parish: Lake
  • County: Lake-MN
  • Directions: Hwy 169 N to Kawishiwi Trail, Right to Bay Road, Left to Loop Road, right to fire number.
  • Latitude: 47.903187
  • Longitude: -91.745956
  • Map Coordinate: 999-A1
  • City and Location: Ely
  • City and Location Text: Ely(MN)
  • Postal Code: 55731
  • State Or Province: MN
  • Public Survey Township: 63
Taxes and HOA Information
  • Additional Parcels: No
  • Association Fee: $.00
  • Association: No
  • Parcel Number: 28631133337
  • Tax Annual Amount: $2,502.00
  • Tax Legal Description: 2.62 ACRES OUT OF LOT 2 PARCEL F
  • Tax Other Annual Assessment Amount: $2,700.00
  • Tax Year: 2025
  • Tax With Assessments: 2615
School Information
  • High School District: 1544 - Lake Superior
  • School District Number: 1544
  • School District Phone: 2188348216
Property
Lot Information
  • Above Grade Fin SQFT: 1630.0
  • Below Grade Fin SQFT: 850.0
  • SQFT Total: 2480.0
  • Living Area Units: Square Feet
  • Lot Size Acres: 2.6
  • Lot Size Area: 2.62
  • Lot Size Dimensions: 225.00 x 475.00
  • Lot Size Units: Acres
  • Present Use: Yearly
  • Property Attached: No
  • Property Sub Type: Single Family Residence
  • Property Type: Residential
  • SQFT Main Total: 1630
  • Above Grade SqFt Total: 1630
  • Below Grade SqFt Total: 850
Utilities
  • Electric: 200+ Amp Service
  • Sewer: Mound Septic
  • Water Source: Drilled
Interior and Exterior Features
Exterior Features
  • Accessibility Features: None
  • Exterior Features: Deck, Porch
  • Foundation Area: 850.0
  • Foundation Details: Concrete
  • Fuel: Electric,Wood
  • Roof: Asphalt
  • Patio Porch Type: Covered,Deck,Enclosed,Porch,Screened
Interior Features
  • Appliances: Dishwasher, Dryer, Electric Water Heater, Microwave, Range, Washer
  • Basement Type: Block, Finished, Full
  • Bath Desc: Main Floor Full Bath
  • Bathrooms Full: 1
  • Bathrooms Half: 0
  • Bathrooms One Quarter: 0
  • Bathrooms Three Quarter: 1
  • Bathrooms Total Count: 2
  • Bedrooms Total: 3
  • Fireplace Features: Wood Burning
  • Fireplaces Total: 1
  • FireplaceYN: Yes
  • Cooling: Window Unit(s)
  • DP Resource: Yes
  • Garage Dimensions: 24 x 26
  • Garage Square Feet: 572
  • Heating: Baseboard
  • Levels: One and One Half
  • StoriesTotal: 1
  • Room List: Family Room, Bedroom, Kitchen, Living Room, Loft, Bedroom 2, Bedroom 3, Utility Room
  • Basement YN: Yes
Room Information
Room 1
  • Room Dimensions: 16 x 122
  • Room Level: Lower
  • Room Type: Family Room
Room 2
  • Room Dimensions: 10 x 11
  • Room Level: Main
  • Room Type: Bedroom
Room 3
  • Room Dimensions: 10 x 13
  • Room Level: Main
  • Room Type: Kitchen
Room 4
  • Room Dimensions: 13 x 23
  • Room Level: Main
  • Room Type: Living Room
Room 5
  • Room Dimensions: 29 x 27
  • Room Level: Upper
  • Room Type: Loft
Room 6
  • Room Dimensions: 10 x 10
  • Room Level: Main
  • Room Type: Bedroom 2
Room 7
  • Room Dimensions: 10 x 16
  • Room Level: Lower
  • Room Type: Bedroom 3
Room 8
  • Room Dimensions: 12 x 11
  • Room Level: Lower
  • Room Type: Utility Room

Property History for 540 Loop Road

DateEvent & SourcePriceAppreciation
Dec 23, 2025

In Contract

NorthStar #7000151

—
Dec 16, 2025

Price Change

NorthStar #7000151

$719,900—
Dec 16, 2025

Listed (Active)

NorthStar #7000151

—
Dec 15, 2025

Listed (Active)

Lake Superior Area REALTORS #6123162

$719,900—
Feb 4, 2021

Sold

Lake Superior Area REALTORS #6094388

$335,000—
Jan 30, 2021

Sold (Public Record)

Public Record #1450755267

$335,000—
Dec 21, 2020

Pending

Lake Superior Area REALTORS #6094388

—
Dec 15, 2020

Listed (Active)

Lake Superior Area REALTORS #6094388

$335,000—
Jul 3, 2013

Sold

Lake Superior Area REALTORS #2003515

$240,000—
May 28, 2013

Pending

Lake Superior Area REALTORS #2003515

—
Feb 15, 2013

Listed (Active)

Lake Superior Area REALTORS #2003515

$250,000—
Jan 30, 2013

Off Market

Lake Superior Area REALTORS #1973417

$250,000—
Oct 16, 2012

Listed (Active)

Lake Superior Area REALTORS #1973417

$250,000—
DateEvent & SourcePrice
12/23/2025

In Contract

NorthStar #7000151

—
12/16/2025

Price Change

NorthStar #7000151

$719,900
12/16/2025

Listed (Active)

NorthStar #7000151

—
12/15/2025

Listed (Active)

Lake Superior Area REALTORS #6123162

$719,900
02/04/2021

Sold

Lake Superior Area REALTORS #6094388

$335,000
01/30/2021

Sold (Public Record)

Public Record #1450755267

$335,000
12/21/2020

Pending

Lake Superior Area REALTORS #6094388

—
12/15/2020

Listed (Active)

Lake Superior Area REALTORS #6094388

$335,000
07/03/2013

Sold

Lake Superior Area REALTORS #2003515

$240,000
05/28/2013

Pending

Lake Superior Area REALTORS #2003515

—
02/15/2013

Listed (Active)

Lake Superior Area REALTORS #2003515

$250,000
01/30/2013

Off Market

Lake Superior Area REALTORS #1973417

$250,000
10/16/2012

Listed (Active)

Lake Superior Area REALTORS #1973417

$250,000

For completeness, Compass often displays two records for one sale: the MLS record and the public record.

Public Records for 540 Loop Road

Taxable ValueLand$144,000Additions$339,000Total$483,000
Tax Record2025$2,700 ($225 / month)
Home Facts
Beds2Total Finished SqFt816 SqFtAbove Grade Finished SqFt816 SqFtStories2Lot Size114,127 SqFtStyleSingle Family ResidenceYear Built2005CountyLAKEAPN28-6311-33337Fireplace TypeHas Fireplace

Schools near 540 Loop Road

This home is within Lake Superior Public School Dist..
Rating
School
Type
Grades
Distance
William Kelley Elementary School
Public - PK to 6
Kelley Secondary
Public - 7 to 12
Rating
School
Distance
William Kelley Elementary School
PublicPK to 6

Kelley Secondary
Public7 to 12

School ratings and boundaries are provided by GreatSchools.org and Pitney Bowes. This information should only be used as a reference. Proximity or boundaries shown here are not a guarantee of enrollment. Please reach out to schools directly to verify all information and enrollment eligibility.

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Listing Courtesy of Z'Up North Realty, Inc.

Properties displayed may be listed or sold by various participants in the MLS. Based on information submitted to the MLS GRID as of 12/24/2025 06:02 AM. All data is obtained from various sources and may not have been verified by broker orMLS GRID. Supplied Open House Information is subject to change without notice. All informationshould be independently reviewed and verified for accuracy. Properties may or may not be listed bythe office/agent presenting the information.