5397 N Ely Island, Tower, MN 55790
Property image
Property image
OFF MARKET

5397 N Ely Island
Tower, MN 55790

    (on 5.36 acres)

    Local Information

    • Map ViewExplore the area around 5397 N Ely Island.
    • Schools1 Preschool School1 Elementary School1 Middle School1 High School
    • Shop & Eat
    -- mins to
    Commute Destination

    Home Highlights

    Property Type
    Lot/Land
    Lot Size
    5.36 acres
    Parking
    None

    About this House

    "Prime lakeshore property on Ely Island! 310 feet of wooded shoreline plus over 5 acres adjacent to 40 acres of State of Minnesota land. North-facing for breathtaking views, with electricity nearby and a convenient lift-out dock already in place. Mature trees provide the perfect setting for your cabin dreams. Don't miss out on this opportunity for big water views and endless possibilities!"
    5397 N Ely Island, Tower, MN 55790 is a lot/land. It last sold for $105,000 on May 30, 2025 (9% below the $114,900 asking price). It is currently off market. The Trulia Estimate rent is $1,320/month.

    Home Details for 5397 N Ely Island

    Interior Features

    Gas & Electric
    Electric: Lake Country Power
    View
    Has a ViewView: Inland Lake, Bay

    Exterior Features

    Exterior Home Features
    Vegetation: Heavily Wooded
    Parking & Garage
    Parking: None
    Frontage
    WaterfrontWaterfront: Inland Lake, Waterfront Access(Private), Shoreline Characteristics(Rocky, Undeveloped)Road Frontage: NoneOn Waterfront
    Water & Sewer
    Water Body: Vermilion
    Farm & Range
    Frontage Length: 310

    Days on Market

    Cumulative Days on Market: 358

    Property Information

    Property Type / Style
    Property Type: LandProperty Subtype: Unimproved Land
    Property Information
    Condition: Raw LandParcel Number: 270002001409

    Price & Status

    Price
    List Price: $114,900
    Status Change & Dates
    Off Market Date: Mon May 05 2025Possession Timing: Close Of Escrow

    Active Status

    MLS Status: SOLD

    Media

    Location

    Direction & Address
    City: Tower
    School Information
    High School District: St. Louis County #2142

    HOA

    No HOA

    Lot Information

    Lot Area: 5.36 Acres

    Offer

    Listing Terms: Cash, Conventional

    Miscellaneous

    Mls Number: 6117393Water ViewWater View: Lake, BayAttribution Contact: ***
    Last check for updates: about 3 hours ago
    Listed by Barb Hegg, (218) 742-2369
    Vermilion Land Office, Inc
    Bought with: Barb Hegg, (218) 742-2369, Vermilion Land Office, Inc
    Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6117393

    Price History for 5397 N Ely Island

    DatePriceEventSource
    06/03/2025$95,000Listed For SaleNorthstarMLS as distributed by MLS GRID #6732173
    05/30/2025$105,000Sold
    Lake Superior Area Realtors as distributed by MLS GRID #6117393
    05/07/2025$114,900PendingLake Superior Area Realtors as distributed by MLS GRID #6117393
    05/07/2025$114,900ContingentRange AOR #147825
    01/03/2025$114,900Listed For SaleRange AOR #147825
    10/11/2024$114,900ListingRemovedNorthstarMLS as distributed by MLS GRID #6534664
    09/08/2024$119,500PriceChange
    Range AOR #146664
    08/08/2024$124,500PriceChange
    Range AOR #146664
    06/10/2024$128,500PriceChange
    Range AOR #146664
    05/10/2024$129,500Listed For SaleRange AOR #146664
    09/21/2021$83,000Sold
    N/A
    01/06/2006$142,000Sold
    N/A

    Market trends in Ely

    Last updated June 2026
    Buyer'sMarketSeller'sMarket
    Avg. sale price
    —
    Sale-to-List Price
    —
    Price per sq ft
    —
    Available listings
    96
    16    MoM
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    Property Tax and Assessment

    Year2024
    Tax$832
    Assessment$100,600
    Home facts updated by county records

    Comparable Sales for 5397 N Ely Island

    Address
    Distance
    Property Type
    Sold Price
    Sold Date
    Bed
    Bath
    Sqft
    TBD Lake Vermilion North, Tower, MN
    3.77
    Lot/Land
    $115,000
    03/27/26
    -
    -
    29 Lake Ave S, Tower, MN
    3.67
    Lot/Land
    $65,000
    08/12/25
    -
    -
    xxxx Mud Creek Rd, Ely, MN
    4.51
    Lot/Land
    $165,000
    08/08/25
    -
    -

    Nearby homes

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    Assigned Schools

    These are the assigned schools for 5397 N Ely Island.

    What Locals Say about Ely

    At least 8 Trulia users voted on each feature.

    • 93 % Say there's wildlife

    • 90 % Say kids play outside

    • 89 % Say car is needed

    • 88 % Say parking is easy

    • 86 % Say it's quiet

    • 83 % Say yards are well-kept

    • 83 % Say it's dog friendly

    • 80 % Say there's holiday spirit

    • 78 % Say people would walk alone at night

    • 77 % Say it's walkable to restaurants

    • 75 % Say there are sidewalks

    • 73 % Say streets are well-lit

    • 72 % Say neighbors are friendly

    • 69 % Say it's walkable to grocery stores

    • 45 % Say there are community events

    • 36 % Say they plan to stay for at least 5 years

    Sourced by Trulia users. Learn more about our methodology.
    • Mavericksells
      "Ely is surrounded by forests and it’s a lovely, peaceful place to reside. There are wonderful restaurants, shops, a great movie theater and a variety of outdoor activities to choose from year round. "
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    • Derek H.
      "Ely is located at the end of the road. No roads go to much further north due to the boundary waters canoe area which strictly prohibits dwellings or any man made structures. Ely can seem like a long way from anywhere at times and the community recognizes this and most willing are willing to help whoever and whenever the need may arise. We take care of our own and then some . "
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    • Jennifer P.
      "Don't move here if you don't like being out in the woods. ppl on this town take care of each other. even if you're new. as long as you show you want to be part of Ely. "
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    • Jennifer P.
      "as a new comer to ely try to get into activities around town, especially if you have younger children who are not school age. jobs are not always easy to find and though the cost of living is fairly low you do money can get tight quickly. ely is a nice town but it's hard on you too. more work for less. your kids are safe here but still know who you're talking to before hand."
      3
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    • Rvhall
      "There is no public transport in this neighborhood , but Arrowhead transport does run in town for a nominal fee and there are weekly trips to Virginia Mn."
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    • Lora L.
      "We have cab service and in town bus service. It’s a 25 block walk from first place in town to last. Generally, the city park,police,fire,library dot,and shopping district are within 8 blocks from anywhere."
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    Apartments for Rent

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    Homes for sale near 5397 N Ely Island

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    Off Market Homes Near 5397 N Ely Island

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    Based on information submitted to the MLS GRID as of 2026-08-06 15:02:30 PDT. All data is obtained from various sources and may not have been verified by broker or MLS GRID. Supplied Open House Information is subject to change without notice. All information should be independently reviewed and verified for accuracy. Properties may or may not be listed by the office/agent presenting the information. Some IDX listings have been excluded from this website. Click here for more information