Stunning 5 BR 3 Bath Shagawa Lake home with recent significant remodeling and updates. Situated on a beautiful 2-acre property with a meandering 450' of shoreline complete with a beach and a private point. Enjoy amazing panoramic lake views both in and outside the home. Main level includes a newly remodeled kitchen with Knotty Alder cabinets, Hanstone Bavaria Quartz countertops, stainless appliances, and glass tile backsplash. Enjoy both island seating and a spacious dining area. Kitchen, Dining, and Living rooms feature open-concept with vaulted ceilings and abundant natural light. Dry bar in living room with mini fridge is an added bonus, and is located next to the lakeside patio doors, which lead you to the new 30' x 14' wrap around deck with wire railing and 28' x 6' walk around, providing a perfect setting for outdoor dining and entertaining. The Primary bedroom with full ensuite and 2nd bedroom with combination laundry and full bath are located on the main level along with an office or third bedroom. The spiral staircase with new custom solid wood treads brings you to the lower level Great Room with wood panel accents and walk out lake access. In addition, the basement features two additional bedrooms, full bath, and storage closet. The upper level 31' x 16' loft, which is open to the living area below, provides an opportunity to create extra space for a den/library, home office, home gym, or any other option you may need. Some other features include: Attached 3 stall garage with newly insulated windowed garage doors, electric garage openers, newly shingled house and garage roofs, new paint throughout, fiber-optic internet, and new exterior doors. Enjoy: the diverse tree cover, the 4+/- Trezona trail located directly across the street, country lake living with the benefit of being within the city limits and all the conveniences offered, including City sewer & water. A truly rare find in the heart of Ely. Shagawa Lake is known for it's phenominal walleye fishing, recreating and island studded beauty.