WAYZATA, MN — For the first time since 1938, this historic estate on Lake Minnetonka is on sale. The 1929 East Coast-style home sits on just under seven acres of land on Wayzata Bay and features 538 feet of pristine, west-facing shoreline.
However, the home — which was been featured in "Legendary Homes of Lake Minnetonka" — is likely to be demolished.
"It probably will be torn down," listing agent Patti Jo Hermann of Edina Realty told the Star Tribune. "The value is in the land."
The future owner will either be so well endowed they’ll want to build their own lake home, or they’ll divide the land and build three lake homes, according to the newspaper.
Check out more photos of the historic home here.
Price: $12,500,000 Square Feet: 6001 Bedrooms: 7 Bathrooms: 6 Full and 2 Half Baths Built: 1929
This listing originally appeared on realtor.com. For more information and photos, click here.