A sprawling estate with 375 feet of frontage on Edina’s Mirror Lake will soon have a new owner. The luxury property, which was previously on the market for $6.2 million, is scheduled to be sold to the highest bidder at a live auction this Saturday, September 21st, 2019. The property is being offered without reserve, meaning the highest bidder will prevail – regardless of the bid price. Luxury real estate auction house Platinum Luxury Auctions, which specializes in multimillion-dollar property sales on behalf of wealthy sellers, was retained by the homeowners to conduct the auction. Platinum is managing the sale in cooperation with area brokerage Edina Realty, represented by listing agents Susan and Gary Wahman.
The property is sited on 4.5 wooded acres that are located off of a quiet, suburban cul-de-sac, providing added privacy and family safety. It includes a main residence and a separate, above-garage guest apartment. In addition to beautiful views of Mirror Lake (especially from the property’s private dock), the property offers views of the manicured fairways of the Interlachen Country Club, which is located just across the lake. “During the colder months, the seller used to strap on his cross-country skis and ski right across the lake to the country club,” laughed David Ashcroft, Platinum’s managing director.
While Mirror Lake is relatively modest in size, the properties surrounding it are quite the opposite. The lake’s shoreline is dotted with luxurious estates situated on multi-acre parcels. A number of recent lakefront sales notched multimillion-dollar prices, only to see the buyers tear down the existing structures to build brand new homes. Those sales are a strong sign of the inherent value of the lakefront land, according to Mr. Ashcroft.
While auctions for high-end real estate are not common in Edina, Ashcroft stated that the novelty of a luxury auction® in the area has garnered ample interest in the property to date. “The quality and quantity of high-net-worth buyers inquiring about this lakefront estate has been impressive, and it will be up to those buyers on auction day to name their price for this special home.”
First built in the 1920’s, the property has been carefully maintained, restored and improved by its owners throughout the years, including the addition of a large “wing” complete with an expansive solarium, executive office and conservatory. The main residence offers 3 living levels with 6 beds, 5 full and 3 half baths throughout 13,000 sf, while the 800-sf guest quarters add 2 beds and 1 full bath.
The home’s lower level features a spectacular indoor pool complete with lap lanes and an electronically-controlled closure system. There is also a large, drop-down theater screen and overhead projector – in case you’d like to enjoy a movie without leaving the pool. Adjacent to the pool is a large cabana bath with steam room.
Extensive patios and terraces overlook the estate’s manicured grounds, which include an all-weather jacuzzi, paddle-tennis court, skateboard “park,” and frisbee golf station. When the weather cools, ice skating and cross-county skiing on the lake are popular pastimes.
Additional literature on the luxury auction® sale can be found online at LakefrontLuxuryAuction.com. Interested parties may also contact Platinum’s project manager, Leslie Rose, at 800.683.3789. Open house previews of the property are scheduled each day between the hours of 11am and 4pm local time, until the auction. Bidders must formally register to participate in the sale, and are encouraged to contact Platinum for registration details.