By: KeyCrew Media
Built by the former Minnesota Vikings tight end on a private bay of Lake Minnetonka, a gated lakefront estate valued at about $15 million is heading to a co-ownership auction, with six of its eight fractions available and bidding opening at $1.55 million each.
On a summer evening on Lake Minnetonka, boats drift past shoreline homes close enough to see inside. On Fox Street in Orono, Minnesota, one estate keeps its distance. The house sits back from the water and above it, reached through a private gate and a wooded drive that opens onto a broad lawn, a resort-style pool and a private dock on the bay below.
Former Minnesota Vikings tight end Kyle Rudolph built the house as his family’s long-term home and sold it in 2023. Its current owner is now bringing it to auction with DeCaro Auctions as a co-ownership offering. Six of the home’s eight fractions are available, each representing one-eighth of the estate, with bidding opening at $1.55 million per fraction. Buyers who would rather own the whole property can still bid for it outright.
A Lake That Has Become a Year-Round Address
Lake Minnetonka, west of Minneapolis, has drawn executives and business owners for generations, helped by the number of major companies headquartered in the region. The lake is a chain of bays, each with its own character. This home sits on one of the quieter ones, Maxwell Bay, within a small enclave of high-end homes along Fox Street.
Summer is still the main event, with boating, swimming and long evenings on the water. “It has always been known for summers, but it’s quickly becoming a year-round destination,” says Matthew Rollins, partner and chief marketing officer at DeCaro Auctions. Fall brings color around the bays. In winter, the frozen lake turns into a rink for skating, pickup hockey and ice fishing.
Privacy is rarer here than buyers might expect. Many lakefront homes were built on whatever land was available at the water’s edge. The developer of this enclave set aside a larger parcel with a gated entrance, and the house has its own secured approach. “Security is a big deal for this kind of owner, and a lot of the homes around the lake don’t have it,” Rollins says.
A House Built Around Training, Hosting and the View
Rudolph spent years planning and building the house, and the finishes, layout and architecture reflect that time. Ceilings are high throughout, and the house is oriented so that nearly every room looks toward the water.
The lower level is where the house departs from most lake homes. Instead of an outdoor sport court, there is an indoor half court under very high ceilings, used for basketball, pickleball and hockey. Beside it is a professional-grade gym with free weights, power cages and machines, along with a cold plunge and a sauna. When Rudolph built it, the gym was customized down to his logo on the dumbbells. The same level holds a golf simulator, a home theater, a family room and a second kitchen.
Outside, covered seating areas and large decks surround the pool, and the lawn runs down to the shoreline and dock. The house and grounds can host hundreds of guests without feeling crowded.
What photographs miss, Rollins says, is the sense of scale and distance. “You’re perched above the lake, so people boating by can’t look in your windows, but you’re still right on the water,” he says. “A lot of homes at this level sit right on the shore. This one gives you that space.”
Why the Estate Is Being Offered Through Co-Ownership
For many buyers, the appeal of a home like this lies in the weeks they would spend there: summer days on the dock, a long fall weekend, a winter holiday with the lake frozen over. Far fewer want to commit $15 million, plus the taxes, insurance and upkeep that come with it, to a house they would use only part of the year. Co-ownership is designed for that buyer. By offering the estate in fractions, the current owner and DeCaro are opening one of Lake Minnetonka’s private properties to people who want to own part of it rather than all of it.
“By lowering the entry point, we greatly expand the buyer pool,” Rollins says. “We’re not talking about $15 million anymore. We’re talking about $1.55 million to own part of this property.”
Mario Vargas, partner and CEO of DeCaro Auctions, sees co-ownership as a smarter way to hold a vacation home, even for buyers who could afford the whole thing. “Somebody may have always wanted a place on the lake but decided it wasn’t a smart use of their money when they’d only be there a few weeks a year,” he says. “Co-ownership lets them own it, enjoy it and split the costs that come with it.”
This is co-ownership, sometimes called fractional ownership, not a timeshare. Each owner holds a fraction of the entire home rather than a set week or a particular room, and the owners divide carrying costs such as maintenance, taxes and insurance. A professional management company handles scheduling, cleaning and upkeep, so the house is ready on arrival and reset after each stay. A bidder who wants the entire estate can still win it by outbidding the combined total of the bids on the fractions, a structure laid out on DeCaro’s process page.
How to Bid
Bidders register at decaroauctions.com, where they can review the property’s due diligence documents, including inspections and disclosures. To qualify, they review the auction terms, submit proof of funds and place a $10,000 deposit. Auction dates will be announced on the property’s page. DeCaro works alongside the home’s listing agent and cooperates with buyers’ agents throughout.
For a house that took years to plan and build, the window to own part of it will be measured in weeks.
About DeCaro Auctions: DeCaro Auctions is a boutique luxury real estate auction house founded by Daniel DeCaro in 1983, with more than 40 years in luxury auctions. The firm runs date-certain auctions for whole homes and co-ownership, and partners with the listing agent on every sale; learn more at decaroauctions.com.
Disclaimer: This article is intended for informational purposes only and does not constitute legal, financial, or investment advice. The views and opinions expressed herein reflect those of the individuals quoted and do not represent an endorsement of any company, product, or service mentioned. Readers should conduct their own due diligence and consult qualified professionals before making any purchase decision.
