A gated lakefront estate on Lake Minnetonka built by former Minnesota Vikings tight end Kyle Rudolph is heading to a co-ownership auction, with six of its eight fractions available and bidding opening at $1.55 million each. The property, valued at about $15 million, sits on a private bay in Orono, Minnesota, and represents a growing trend in luxury real estate: selling high-end vacation homes in shares rather than as whole properties.
The estate was built by Rudolph as his family's long-term home and sold in 2023. Its current owner is now bringing it to auction with DeCaro Auctions as a co-ownership offering. Each fraction represents one-eighth of the estate, and buyers who prefer full ownership can still bid for the entire property outright.
Lake Minnetonka, west of Minneapolis, has long attracted executives and business owners thanks to the concentration of major companies headquartered in the region. The lake is a chain of bays, each with its own character, and this home sits on Maxwell Bay within a small enclave of high-end homes along Fox Street. "It has always been known for summers, but it's quickly becoming a year-round destination," said Matthew Rollins, partner and chief marketing officer at DeCaro Auctions. Fall brings color around the bays, and in winter the frozen lake becomes 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, but 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 said.
Rudolph spent years planning and building the house, and the finishes, layout and architecture reflect that time. Ceilings are high throughout, and nearly every room looks toward the water. The lower level includes an indoor half court for basketball, pickleball and hockey, a professional-grade gym with free weights, power cages and machines, a cold plunge and a sauna, plus a golf simulator, home theater, family room and second kitchen. Outside, covered seating areas and large decks surround the pool, and the lawn runs down to the shoreline and dock.
For many buyers, the appeal of a home like this lies in the weeks they would spend there, but far fewer want to commit $15 million plus taxes, insurance and upkeep for part-time use. Co-ownership is designed for that buyer. "By lowering the entry point, we greatly expand the buyer pool," Rollins said. "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, added that co-ownership lets buyers own and enjoy a lake home while splitting the costs.
This is co-ownership, not a timeshare. Each owner holds a fraction of the entire home rather than a set week or a particular room, and owners divide carrying costs such as maintenance, taxes and insurance. A professional management company handles scheduling, cleaning and upkeep. 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.
Bidders register at decaroauctions.com, where they can review 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. For a house that took years to plan and build, the window to own part of it will be measured in weeks.
