540 Loop Road

Ely MN 55731

2480 sq. ft.

2.62 ac.

Single-Family

Last sold for $710,000

Andrea Zupancich, last sold this property on 06 February 2026 after 51 days on market.

Overview

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.

Features

3 bedrooms

2 bathrooms

2 carspaces

2 garage spaces

2480 sq. ft. floor area

2.62 ac. lot size

Single-Family

Estimated Value

Based on this property and similar 3 bedroom single-family properties sold in Ely over the last 12 months, the estimated median property value of 540 Loop Road is $402.5k.

Median value

$402.5k

Estimated value range

$230k - $880k

Median days on market

Estimated value trend

64%

increase over the last 12 months

Average days on market is based on recent, comparable sales in Ely. It is only an indication of the time a property is actively listed and should not be relied upon as an accurate representation of how soon a property will be sold.

Property history for 540 Loop Road

2026

Sold

$710,000

06 Feb 2026 by Andrea Zupancich, of Z'Up North Realty, Inc.

2021

Sold

$335,000

04 Feb 2021 by Kate Davies, of Bear Island Land Co.

Happy sellers in Ely

We have insufficient information to provide an overview of customer satisfaction for Ely. Viewing the agent profiles, reviews and sales for Ely can provide insights for this location.