Olson Bay Trl, Ely, MN 55731
FOR SALE
4.87 ACRES

Olson Bay Trl
Ely, MN 55731

    $325,000

    Est. Mortgage $1,969/mo*
    Get Pre-Qualified

    $325,000

    Est. Mortgage $1,969/mo*
    Get Pre-Qualified
    (on 4.87 acres)

    Local Information

    Map showing home location
    © Google
    -- mins to
    Commute Destination

    Description

    Beautiful Shagawa Lake parcel located on the desirable west end in Olson Bay. This private lake lot offers approximately 4.87 acres with 265 feet of shoreline, fantastic lake views, and a peaceful natural setting. The driveway is already in place and leads to a cleared building site and parking area, making it easy to envision your future Northwoods retreat. Two trails provide access down to the lake, while the gently sloped shoreline, excellent privacy, and beautiful setting on one of Ely’s most sought-after lakes create a rare opportunity to build your ideal lake getaway.

    Home Highlights

    Parking
    No Info
    Outdoor
    No Info
    HOA
    None
    Price/Sqft
    No Info
    Listed
    28 days ago

    Home Details for Olson Bay Trl

    Interior Features

    Appliances & Utilities
    Utilities: Electricity Available
    Gas & Electric
    Electric: Lake Country Power
    View
    Has a ViewView: Inland Lake, Panoramic

    Exterior Features

    Exterior Home Features
    Other Structures: Other
    Parking & Garage
    Parking: Gravel
    Frontage
    WaterfrontWaterfront: Inland Lake, Waterfront Access(Private)Road Frontage: Private RoadResponsible for Road Maintenance: Private Maintained RoadOn Waterfront
    Water & Sewer
    Water Body: Shagawa
    Farm & Range
    Frontage Length: 265

    Days on Market

    Cumulative Days on Market: 28Days on Market: 28

    Property Information

    Property Type / Style
    Property Type: LandProperty Subtype: Unimproved Land
    Property Information
    Parcel Number: 465002002714

    Price & Status

    Price
    List Price: $325,000
    Status Change & Dates
    Possession Timing: Immediate

    Active Status

    MLS Status: ACTIVE

    Location

    Direction & Address
    City: Ely
    School Information
    High School District: Ely #696

    Agent Information

    Listing Agent
    Listing ID: 6124409

    HOA

    No HOA

    Lot Information

    Lot Area: 4.87 Acres

    Offer

    Listing Terms: Cash, Conventional

    Miscellaneous

    Mls Number: 6124409Water ViewWater View: LakeAttribution Contact: ***
    Last check for updates: about 17 hours ago
    Listing courtesy of Kate Davies, (218) 343-9173
    Bear Island Realty LLC
    Anna Yahnke, (218) 235-3547
    Bear Island Realty LLC
    Source: Lake Superior Area Realtors as distributed by MLS GRID, MLS#6124409
    Also Listed on Lake Superior Area Realtors as distributed by MLS GRID.

    Price History for Olson Bay Trl

    DatePriceEventSource
    04/09/2026$325,000Listed For SaleLake Superior Area Realtors as distributed by MLS GRID #6124409
    01/01/2026$325,000ListingRemovedLake Superior Area Realtors as distributed by MLS GRID #6121227
    11/14/2025$325,000PendingToActiveLake Superior Area Realtors as distributed by MLS GRID #6121227
    10/08/2025$325,000ContingentLake Superior Area Realtors as distributed by MLS GRID #6121227
    08/11/2025$325,000Listed For SaleLake Superior Area Realtors as distributed by MLS GRID #6121227
    01/05/2025$165,000ListingRemovedLake Superior Area Realtors as distributed by MLS GRID #6099423
    01/04/2022$185,000Sold
    Lake Superior Area Realtors as distributed by MLS GRID #6099423
    09/20/2021$165,000PendingLake Superior Area Realtors as distributed by MLS GRID #6099423
    09/14/2021ListingRemovedLake Superior Area Realtors as distributed by MLS GRID
    09/08/2021$165,000PendingLake Superior Area Realtors as distributed by MLS GRID #6099423
    09/02/2021$165,000Listed For SaleLake Superior Area Realtors as distributed by MLS GRID #6099423
    10/31/2020$174,500ListingRemovedAgent Provided
    07/10/2020$174,500PriceChange
    Agent Provided
    04/14/2020$189,900Listed For SaleAgent Provided

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    Comparable Sales for Olson Bay Trl

    Address
    Distance
    Property Type
    Sold Price
    Sold Date
    Bed
    Bath
    Sqft
    169 Xxx Hwy, Ely, MN
    1.57
    Lot/Land
    $75,000
    01/09/26
    -
    -
    Longstorff Rd, Ely, MN
    1.75
    Lot/Land
    $66,750
    05/16/25
    -
    -
    Xxx Grant McMahan Blvd, Ely, MN
    1.49
    Lot/Land
    $375,000
    08/29/25
    -
    -
    169 Tbd Hwy, Ely, MN
    3.76
    Lot/Land
    $34,000
    12/15/25
    -
    -
    1322 N 18th Ave E, Ely, MN
    3.86
    Lot/Land
    $40,000
    01/21/26
    -
    -
    2128 Sibley Dr #2136, Ely, MN
    4.17
    Lot/Land
    $38,900
    10/23/25
    -
    -
    2125 Sibley Dr, Ely, MN
    4.11
    Lot/Land
    $30,000
    06/27/25
    -
    -

    Assigned Schools

    These are the assigned schools for Olson Bay Trl.
    View nearby schools on GreatSchools
    The GreatSchools Rating compares schools on a variety of school quality indicators including test scores, college readiness, equity and more. Learn more.

    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 it's walkable to grocery stores

    • 75 % Say there are sidewalks

    • 73 % Say streets are well-lit

    • 72 % Say neighbors are friendly

    • 45 % Say there are community events

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

    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. "
      0
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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 . "
      7
      Flag
    • 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. "
      0
      Flag
    • 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
      Flag
    • 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."
      0
      Flag
    • 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."
      0
      Flag

    LGBTQ Local Legal Protections

    Kate Davies, Bear Island Realty LLC
    Agent Phone: (218) 343-9173
    Based on information submitted to the MLS GRID as of 2026-05-07 16:37:21 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
    Olson Bay Trl, Ely, MN 55731 is a lot/land. This property is currently available for sale and was listed by Lake Superior Area Realtors as distributed by MLS GRID on Apr 9, 2026. The MLS # for this home is MLS# 6124409.