Farm Island Lake Estate
27792 450th Place
Aitkin, MN 56431

Four parcels make up this private estate. It has been in the family since 1905 when Louie Peterson (Lars Toffesund) and his brothers purchased it. Ruby Treloar operated it as a resort from the 1950's until the late 1990's. This is a once in a lifetime opportunity to secure acreage and lake shore for your family, in the growing Minnesota lakes area.

All parcels can be purchased together, or parcels 1 and 2 can be purchased together, and parcels 3 and 4 can be purchased together. Parcels 1 and 2 are located on Farm Island Lake, and Parcels 3 and 4 are to the south overlooking the Ripple River and Laurel Lake.:

1. 017900
2. 018401

3. 018501
4. 018601

A total of 116.27 acres with over 1850 feet of private lake shore on Farm Island lake. Breathtaking views of the Ripple River, Laurel Lake, and Farm Island Lake. Property was previously used as a resort. So, along with the original home built in 1905 by Louie Peterson, there are 5 rustic cabins within feet of the lake, a block shower building, a fish cleaning station and outhouses. Ruby had the block shower building built and a new septic system installed in the mid 1990's. The septic system is large enough for the main house, 5 cabins, and the shower building. With exception to the shower building, all buildings are in need of complete rehab and were not given any significant value in determining the total value of the property. This property is perfect for a private estate, resort, development, or large family get away.

Sale Information:

Asking Price for Parcels 1 and 2: $2,300,000
Total acreage of parcels 1 and 2: 54.82
Estimated total Farm Island Lake frontage: 1850 feet

Value attributed to Parcel 1: $2,214,300
- 450 feet of developed lake shore: $900,000 ($2,000/foot)
- 1400 feet of undeveloped lake shore: $1,314,300 ($940/foot)

Value attributed to Parcel 2: $85,700
- 17.14 acres valued at $5,000/acre

Asking Price for Parcels 3 and 4: $150,000
Total acreage of parcels 3 and 4: 61.45
Estimated total lake frontage: 0 feet

Value attributed to Parcel 3: $97,200
- 35.05 acres valued at $2,773/acre

Value attributed to Parcel 4: $52,800
- 26.4 acres valued at $2,000/acre

Located in the heart of Minnesota's cherished Lakes Area:
35 minutes to Brainerd
5 minutes to Ruttger's Resort and Golf Course on Bay Lake
35 lakes with public accesses within 10 miles
New miniature golf course 15 minutes away in Deerwood
Excellent 18 Hole Golf Course and Driving Range at Cuyuna Country Club, only 15 minutes away in Deerwood
Shop or dine in the friendly small towns of Aitkin, Garrison or Deerwood, all within15 minutes of the property

Here is a link to helpful information on the Aitkin County website:
http://www.co.aitkin.mn.us/ordinances/planning.htm

Questions about the property? Want to schedule a private tour?

Listing Brokerage:
Rains Properties, Inc.
Andy Weitnauer
624 Central Ave
Osseo, MN 55369
Office Phone: (763) 315-0000
Mobile Phone: (763) 360-5646
Fax: (763) 315-0004
andy@rainsproperties.com
www.farmislandlakeestate.com
www.rainsproperties.com