The most expensive home currently for sale in Minneapolis may have been built in 2018, but the address is loaded with history.
The estate at 2505 E. Lake of the Isles Pkwy. hit the market Thursday for $8.9 million, almost $3 million more than the previous market-topper for sale at 1300 Mount Curve Ave. That price tag includes 5 bedrooms, 6.5 bathrooms, and 8,930 square feet overlooking Lake of the Isles. Sitting on .85 gated acres, the sleek newer construction features panoramic lake views through glassy walls and skylights, a gym, basketball court, solar power system hooked to Tesla Powerwalls, and 1,000-square-foot heated three-car garage.
"Unprecedented opportunity to own this new landmark residence on Lake of the Isles' most coveted homesite," reads the property listing. "Meticulously designed home combines old-world elegance and modern timelessness."
Its current owner, businessman David Ericson, demolished the 7,495-square-foot mid-century modern house from 1958 that previously occupied the address. Before that, the 38,000-square-foot Gates Mansion loomed over the lake from that plot. Built by steel tycoon Charles Gates in 1913, the Italian Renaissance masterpiece is believed to be the largest single-family home in city history. Its life was shortlived: After attempts to sell the Gates Mansion during the Great Depression proved futile, the hulking structure was razed in 1933, leaving the space vacant for decades.
Why is Ericson, who purchased the parcel for $3.5 million in 2014, unloading his freshly constructed dream home after just two years? We reached out to his listing agent, but didn't immediately hear back.
Let's take a photo tour of 2505 E. Lake of the Isles Pkwy., courtesy of the MLS listing: