Last traded in the 1940s, this is a generational opportunity to own one of the few remaining, subdividable, lakefront, acreage estates on recreational water, within the Twin Cities Metro. At this serene site, it feels like you're hours outside of a city center, yet you're only 15 minutes from the 494 loop, set within the award winning, Orono School District. Carve out your own dream on a property that has no covenants, restrictions, or HOAs. The property features 12+ acres, 600+' of frontage on Lake Independence, and ideal topography with significant, flat, usable land at the lake grade which extends in approximately a 100' before the hill takes you up to higher ground where the potential build configurations and combinations are endless. Subdivide and sell, create a family compound, start your family farm, or imagine an equestrian estate, residence, and lakefront cabin all-in-one. This property can be split in half creating two, approximately 6 acre lots, each with 300’ of frontage, without a variance. City sewer and water is currently just south of Pagenkopf. If and when it extends to Pagenkopf, the dynamics related to minimum lot size would change (see the Bridgevine development just east of the subject).