2545_HuntIncluded:  $2 Million Guest House

On the coasts, $5 million is nothing for a home.

Here in the Twin Cities, however, that’s still quite a bit.

Especially for a home NOT on a lake.

One Two-of-a-Kind

To be sure, the home in question — just west of Minneapolis’ Cedar Lake — boasts stunning lake and skyline views.

It’s also really two buildings in one:  the principal residence (left side of photo, above), and a newer guest house (dramatically illuminated on the right, which is actually the smaller of the two structures).

See also, “Two’s Company on Minneapolis’ Cedar Lake,” including the accompanying photo (below) from 2009, when the guest home was still under construction.

two's companyThe homes are connected by an enclosed walkway on the first floor, and a deck on the upper level.

Other amenities (and a quirk*):

–An elevator-ready space in the main home (now used as closets);

–A Kitchen that’s located on the Upper Level*, where it’s less exposed to busy 26th street just to the south, and the skyline view to the east is more prominent;

–Granite, stainless, marble and other equally high-end finishes virtually everywhere you look; and

–A beautiful pool and surrounding patio with — yup — stunning city and lake views.

Realtor Crystal Ball (Mine)

So, is it/are they worth it?

Unique homes typically require unique Buyers.

crystal ballIt’s also the case that there really are no Comp’s (“Comparable Sold Properties”) for such a one-of-a-kind, high-end property.

Translation:  1) the home(s) are worth whatever a Buyer and Seller agree they’re worth; and 2) such properties typically take (way) longer to sell.

Case in point:  the principal residence — designed by Charles Stinson and built “spec” by Streeter in 2005 — took over a year and a half to sell (for $2.2 million) during the peak of the previous housing cycle.

P.S.:  If you don’t have $5 million and are OK with a less-swanky stretch of Huntington just 4 blocks to the south, please check out my listing (duplex) at 2921 Huntington.

Price:  a relatively measly $429,900.

Click below to see the listing on MLS:


About the author

Ross Kaplan has 19+ years experience selling real estate all over the Twin Cities. He is also a 12-time consecutive "Super Real Estate Agent," as determined by Mpls. - St. Paul Magazine and Twin Cities Business Magazine. Prior to becoming a Realtor, Ross was an attorney (corporate law), CPA, and entrepreneur. He holds an economics degree from Stanford.

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