Situated on the western edge of Whaletail Lake, this picturesque property offers 118-acres with 3,700' of east-facing shoreline. An existing, city-approved plat design sets the groundwork for development, featuring 11 spacious two-acre homesites, each paired with a dock slip on Whaletail Lake. The setting features gently rolling hills, mature trees, and abundant wildlife, including deer, turkey, pheasants, and waterfowl. Set back on a long, tree-lined driveway, an existing home features nearly 5,266 FSF with 5 bedrooms and 5 bathrooms. The home features a 54 x 30 indoor athletic court that sits over a drained swimming pool that could be easily converted back to a pool as all the equipment is in place. In addition to a 3-car finished and heated garage, the property features an 80 x 42 Morton Building providing additional storage. Bow and shotgun hunting are permitted on the property, creating a rare opportunity to enjoy private hunting in an in-town setting. A portion of the property is currently leased and farmed locally. Whaletail Lake represents an increasingly rare opportunity: a substantial, naturally beautiful lake with preserved surroundings, strong recreational amenities, and enduring landscape character -- creating an exceptional backdrop for lakefront living. This location offers the best of both worlds--peaceful, tucked-away surroundings with effortless access to the amenities of the Lake Minnetonka area, where lakeside dining, charming shops, and destinations like Excelsior and Wayzata invite you to unwind. Convenient highway access keeps the Twin Cities and airport within an easy drive.