Luxury Boutique Resort | Proven Short-Term Rental Portfolio | Build-Ready Lots | Commercial Expansion | Condo-Platted Flexibility GRANDFATHERED FOR SHORT-TERM RENTAL USE — AN EXTREMELY RARE NORTH SHORE OPPORTUNITY. A rare opportunity to acquire a proven luxury short-term rental and legacy lakefront estate positioned near the North Shore and Lutsen on the pristine shores of Ninemile Lake near Finland. Following exceptional 2025 and 2026 winter seasons driven by snowmobile tourism and year-round destination demand, the property has experienced outstanding occupancy performance, with the existing rental cabins already over 70% booked for the remainder of 2026 — validating the strong demand for luxury lodging inventory in this highly sought-after recreation market. Surrounded by the breathtaking beauty of the Superior National Forest, this extraordinary waterfront development combines luxury craftsmanship, income generation, development flexibility, and unmatched outdoor recreation in one irreplaceable offering. Due to active guest reservations and ongoing income-producing occupancy, showings for rental cabins are by appointment only and subject to guest schedules. Designed for both privacy and gathering, the property is ideal for boutique hospitality operations, co-ownership opportunities, corporate retreats, multi-family use, or continued luxury vacation rental operations. Each of the three existing structures features its own unique architectural style, layout, and design aesthetic while still flowing cohesively together as a thoughtfully curated luxury compound. Constructed between 2015–2022, the homes showcase exceptional craftsmanship, timeless design, and luxury-grade materials selected to complement the surrounding wilderness setting. Two residences currently operate as successful short-term rentals with strong year-round demand driven by boating, fishing, hiking, skiing, snowmobiling, ATV recreation, and North Shore tourism. In addition to the established income-producing cabins, the owner’s current private residence presents substantial upside as a future third luxury rental accommodation. Unlike many expansion opportunities requiring years of approvals and infrastructure investment, this structure is already completed, fully functional, and positioned for relatively seamless integration into the existing rental operation if desired. Adding significant long-term value, the property benefits from grandfathered short-term rental positioning — an increasingly rare asset in many North Shore-area markets where vacation rental restrictions continue tightening. Future expansion opportunities are exceptionally rare and include six additional build-ready condo-platted lots with shared septic and well infrastructure already installed, dramatically reducing future development costs and timelines. Buyers may continue expanding the existing vision, bring their own builder, or partner with the original developer. The offering also includes an oversized commercial-zoned parcel approved for future hospitality-oriented development including a restaurant/bar, boutique motel, clubhouse, event venue, fitness center, or expanded lodging accommodations. Existing architectural plans are available. With over 1,800 feet of shared shoreline, breathtaking sunset lake views, year-round recreation, nearby restaurants and trails, and exceptional wildlife viewing including moose sightings, this property delivers an experience that simply cannot be recreated. Whether envisioned as a luxury boutique resort, hospitality investment, private family compound, phased development project, or multi-generational legacy estate, this is an increasingly rare opportunity to control premium Northwoods shoreline with immediate income generation and extraordinary long-term upside potential. They are not making more shoreline. Opportunities like this are exceptionally rare.