Southways Estate, Estate of the Day
Another famous blockbuster estate has hit the market and it will most likely be the most expensive sale in Minnesota history. Southways is a huge mansion in the elite area of Brackett's Point in Orono, Minnesota which has served as the summer home for the Pillsbury family. The estate includes seven structures including a caretaker's cottage/greenhouse, garage, pool complex, smoke room and tea house on nearly 13 acres. It sits on Lake Minnetonka and has lovely views but the magic is on the inside on this one, the finishes and details are absolutely flawless. There are nine bedrooms in the 32,400-square-foot-main house. It was designed in 1916-1918 by Harrie T. Lindberg and was used by the Pillsbury family until the early 1990s. It has been lovingly restored by the Jundt family and played host to President Bush last summer. The Pioneer Press reports that according to real estate agent Bruce Birkeland, the family is downsizing. Can the Jundts get their price of $53.5 million? It sounds a bit optimistic but this lovely home will almost certainly be a record breaker.
Larger pictures are in the gallery and definitely worth checking out, especially for the mural in the exercise room/spa and the amazing details on the fireplace.
[Thanks, Jeffrey!]
Reader Comments (Page 1 of 1)
Jeffrey McIntyre Sep 21st 2007 1:34PM
And they forgot to mention, the fishing off that point is great. Grew up on Lake Minnetonka (back when mere mortals could afford to live there), miss it sometimes.
Spectacular Bid Sep 21st 2007 1:41PM
If someone is going to pay that much it may as well be with a home designed by the great gilded age architect H.T. Lindeberg. While not his finest work (Tangley Oaks in Lake Bluff, IL is a bit more appealing with the façade) it does exemplify his talents and the level of taste and mastery only a very few architects ever posses and builders they entrusted to make it happen.
Going from just under $18M as the top purchase price in the State to over $50M will be a massive stretch. Within the Midwest region, even in the wealthier North Shore of Chicago, no home has ever touched that nose bleed level of prices. This despite a deep inventory of Gilded Age homes overlooking Lake Michigan, with large manicured lawns/gardens and designed by some of the best architects of the day too.
With its value at $12.5M today, per County records, and paying $133,638 in taxes the new owner certainly will be taking a hit in the wallet for years to come. MN isn't considered a socialist state with massive taxes for nothing!
Matt Sep 21st 2007 1:48PM
LOVE the ceiling in the informal dining area; altogether, a beautiful estate, though maybe not worth $53 mil.
beanspants Sep 22nd 2007 2:40PM
$131k in taxes on $12mm is less than 1%. My taxes are higher than that comparatively, at around 4%. If we paid the same 4% rate, then that would be $500k.