Shelter Island estate sold to anonymous world traveler

Print Article

An aerial view shows Shelter Island on Flathead Lake. (Engel & Völkers Western Frontier photo)

Shelter Island, a 22-acre luxury island estate on Flathead Lake near Rollins that most recently was listed for sale at $13.95 million, has been sold.

Dawn Maddux of Missoula, a broker and license partner of Engel & Volkers Western Frontier, brokered the sale, but said she could not divulge the sale price.

“The buyer prefers to remain anonymous,” Maddux said. “He is a world traveler with several properties. He has big plans for improving the property and I think it’s a fantastic thing for our community.”

Maddux said she had worked with the buyer for about a year.

The luxury mansion was constructed by California real estate tycoon Donald Abbey in the early 2000s and features a five-bedroom, eight-bath main house covering more than 24,000 square feet, with 45-foot-tall ceilings. A shooting range, gym and heated boat stall are part of the lavish estate that was once listed for a purchase price of $78 million.

The property “is like nothing else in the world,” Maddux said. “The fixtures and finishes were curated from around the world and come together perfectly to complete this one-of-a-kind property.”

The transaction was the largest sale of Flathead Lake property in more than a decade, she said, adding “it was an honor to list, market and complete the sale of this iconic Montana property.”

In 2016 ownership of Shelter Island was transferred to Second Step Asset Management Co., according to court documents. Maddux said this was a transfer of deed but not a sale. Second Step took the property in lieu of deed from the previous owner, she said.

According to a 2016 Daily Inter Lake article, the deed transfer indicated the sale may have been a short sale for $23.5 million, plus the cost of tax assessments in 2015. A short sale is a sale in which the total amount paid is less than the amount of debt owed against the property.

The state tax board ruled that the property was worth $41.8 million in 2015, after a tax battle in which Abbey claimed the island’s taxable worth was far less at $9.8 million. The 2014 tax bill for the property was $367,696.

Print Article

Read More Local News

Rec program user fee increase is focus of public hearing

February 18, 2019 at 5:00 am | Daily Inter Lake A proposal to increase user fees for the city’s recreation programs is the focus of a public hearing on Tuesday before the Whitefish City Council. During the last budget review process, it was deter...

Comments

Read More

Old School Station lot purchase on council agenda

February 18, 2019 at 5:00 am | Daily Inter Lake A purchase offer from Haig Ermoian for one of the vacant Old School Station lots south of Kalispell will be on the Kalispell City Council agenda during its Tuesday, Feb. 19, meeting. In 2015, the...

Comments

Read More

Engineer finds new life in old decor

February 18, 2019 at 5:00 am | Daily Inter Lake Engineer turned home decorator Brad Elliot began rescuing and reviving iconic pieces of the past as a way to recapture the nostalgia of his childhood while utilizing his creative side to build his ow...

Comments

Read More

Staff shortages challenge special-ed programs

February 17, 2019 at 5:00 am | Daily Inter Lake Facing a nationwide shortage of teachers — and special-education teachers in particular — schools in Montana are feeling it acutely as the number of students receiving special-education services is o...

Comments

Read More

Contact Us

(406) 755-7000
727 East Idaho
Kalispell, MT 59901

©2019 Daily Inter Lake Terms of Use Privacy Policy
X
X