T
he Lake Pointe Estate, a 28,000-square-foot mansion on eight acres of land with 655 feet of Lake Minnetonka shoreline, has hit the public market for $55 million. The property was previously listed privately in August at $68 million. Luxury homes are currently the hottest segment in the Twin Cities market, with sales of $1 million-plus houses up over 20% last month.

    The estate's listing agents, John C. Adams and his father John F. Adams, have created a marketing campaign to showcase the property's resort-style amenities, including a private lake dock, swimming pool, and lakeside "porch" that can fit 16 cars. The campaign includes a nearly seven-minute video featuring drone shots of the lakefront, close-ups of an elaborate chandelier, and scenes of well-dressed revelers enjoying cocktails on yachts.

    The property was commissioned by businessman Robert Lothenbach as his primary residence, but he never lived in it before passing away unexpectedly in November 2023. The mansion's construction took nearly seven years to complete, with a team of over 1,000 workers and 92 companies involved. The agents say the new price tag is about half of what it would cost to build today.

    The Lake Pointe Estate is being marketed as a unique opportunity for ultra-wealthy families to own a private country club-style home in Minnesota. Potential buyers include philanthropists looking for a picturesque backdrop for fundraising events and sports team owners seeking to wine and dine free agents. The property has already attracted several high-net-worth buyers, including one overseas shopper and another with ties to Silicon Valley.

    The Adams say the estate is incomparable to any other listing in Minnesota, with its unparalleled price tag and resort-style amenities making it an attractive option for savvy buyers. With the luxury market heating up in the Twin Cities, they are confident that the Lake Pointe Estate will sell this summer.