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$350,000 Just Listed

  • For Sale
  • Active
  • Single Family
  • 2 Beds
  • 560 Sq. Ft.
  • Updated 1 day ago
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Ely's own Shagawa Lake Shipman Island Cabin, all to yourself! You will find it tucked under some towering pines and rugged rock outcroppings, mesmerizing lake views and nearly 900 ft of shoreline. The picturesque coastline is pure Superior National Forest-no neighbors, just loons, eagles, and the occasional moose who thinks he owns the place. Built in 2012, this cozy 560 sq ft 2BR knotty-pine cabin delivers classic Up North charm. Open layout, lakeside deck connects to the kitchen cabin, and a dock with walk-in swimming area that's basically your own private beach. In the 1800s this island was the summer escape of one of Ely's original doctors-proof that even back then, the smart ones knew the best way to make house calls was by boat. (The iron ring is still bolted to the west end which was used to corral logs. Now it just corrals compliments.) Shagawa Lake (2,344 acres, max depth 48 ft) is a DNR walleye factory, the walleye ain't waitin' paddle fast to get this one!

Full Property Details for 2050 Shipman Is

General

  • Price: $350,000
  • Taxes: $1,653 (2026)
  • Status: Active
  • Type: Single Family
  • Source: 1402
  • MLS ID: 6124158
  • Updated: 3/23/2026
  • Added to Site: 2 day(s) ago

Rooms

Bedrooms

  • Total Bedrooms: 2

Other Rooms

  • Dining Room: Combine with Living Room

Exterior

  • Exterior Features: Dock

Parking

  • Parking Features: Other

Location

  • Area: R
  • County: St. Louis County
  • Driving Directions: via boat from landing on NW side of lake Grant McMahon

School Information

  • High School District: Ely #696

Heating & Cooling

  • Cooling Type: None
  • Heating Type: Wall Unit(s), Propane

Utilities

  • Sewer: Compost, Outhouse
  • Water: None

Structural Information

  • Architectural Style: Rustic
  • Construction: Frame/Wood
  • Exterior Const.: Wood
  • Basement: Yes
  • Basement Desc.: None
  • Foundation: Stone, Wood
  • Roof: Asphalt Shingle
  • Stories/Levels: 1
  • Square Feet: 560
  • Year Built: 2012

Lot Features

  • Property View: Inland Lake, Bay, Panoramic, City Lights, Typical
  • Lot Size (Acres): 1.75
  • Lot Dimensions: 365 x 150
  • Road Maintenance: ne
  • Lot Features: Tree Coverage - Medium, Island/Peninsula
  • Development Status: Previously Owned

Water Features

  • Water Front: Yes
  • Water View: Yes
  • Water Front Name: Shagawa
  • Water Front Desc.: Inland Lake
  • Lake Front: Yes

Financial Considerations

  • Price Per Sq. Ft.: $625
  • Tax Amount: $1,653
  • Tax Year: 2026
  • Terms: Cash, Conventional

Disclosures and Reports

  • Legal Description: Morse Township Lot 5 PC 465-0020-04200
  • Property ID: 465-0020-04200

Listed by Z' Up North Realty

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— 2050 Shipman Is —

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Schools serving 2050 Shipman Is

School District:Ely Public School District
NameGradesDistance
Washington Elementary School, Ely, MN
520 East Harvey Street, Ely, MN 55731
PK-52.2 mi
Memorial Middle School
600 East Harvey Street, Ely, MN 55731
6-82.2 mi
Memorial Secondary
600 East Harvey Street, Ely, MN 55731
9-122.2 mi
Disclaimer: School attendance boundaries provided by ATTOM Data Solutions and are for reference only. Contact the school directly to verify enrollment eligibility.

Price & Sales History for 2050 Shipman Is Get Price Alerts and Save Property

Date
Details
Price
Change
Source
3/23/2026
Listed
$350,000
69900%
MLS
10/09/2019
Sold
$500
—
Public Record
Get Price Alerts and Save Property
Disclaimer: Historical sales information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

Tax History for 2050 Shipman Is

Year
Property Taxes
Change
Tax Assessment
Change
2025
$1,650
—
$179,000
19%
2025
$1,650
20%
$150,300
29%
2024
$1,376
18%
$116,900
23%
2023
$1,164
11%
$95,100
—
2022
$1,048
3%
$95,100
—
2020
$1,020
3%
$95,100
2%
2019
$990
7%
$93,600
6%
2018
$928
2%
$88,700
7%
2017
$906
-10%
$82,600
-14%
2016
$1,010
-4%
$95,500
-2%
2015
$1,050
20%
$97,600
17%
2014
$877
-13%
$83,100
-11%
2013
$1,003
—
$93,200
—
View All
Disclaimer: Historical tax information is derived from public records provided by the county offices. Information is not guaranteed and should be independently verified.

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2050 Shipman Island, Ely, MN 55731 (MLS# 6124158) is a Single Family property with 2 bedrooms and 0 full bathrooms. 2050 Shipman Island is currently listed for $350,000 and was received on March 23, 2026. Want to learn more about 2050 Shipman Island? Do you have questions about finding other Single Family real estate for sale in Ely? You can browse all Ely real estate or contact a Coldwell Banker agent to request more information.

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