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A record-breaking transaction has occurred in northwest Iowa with the sale of a lakefront mansion for $9.5 million, marking the highest price ever paid for a single-family home in the state.
The grand estate, known as Peace Harbor, is situated on a prime location along West Lake Okoboji in Spirit Lake. Spanning nearly 25,000 square feet, the property boasts 52 rooms, including eight bedrooms and 15 bathrooms. It was originally constructed by Tom Bedell, the former CEO of Pure Fishing, who owned the home for over two decades.
The sale, facilitated by Holly Lovel of Lovell Group at @properties-elleven Christie’s International Real Estate, surpasses previous high-water marks for residential properties in Iowa. Peace Harbor features a distinctive design with a rare blue granite floor imported from Brazil and floor-to-ceiling windows offering panoramic lake views. It also includes a custom-built replica of an Irish pub with capacity for 300 guests, a media room reminiscent of the town’s first movie theater, and an art studio.
Bedell, reflecting on the sale, noted that the home has been a cherished space for his family and their community involvement. “It’s been a dream to create a home where we could raise our kids during their high school years and host our family gatherings, while supporting the advancement of our community and businesses,” Bedell said. “Over the last 20 years, we have celebrated a life of love and dedication to the Iowa Great Lakes through Peace Harbor, and we’re thrilled that another family has the chance to define its new purpose.”
The sale underscores the rising demand and escalating prices for lakefront properties in the Okoboji area, where single-family homes typically range between $800,000 and $6 million. Recent market data from June shows median asking prices in Dickinson County at $370,000, with actual sale prices slightly higher at $402,500.
As Spirit Lake continues to attract high-end buyers, Peace Harbor’s historic sale sets a new benchmark for luxury real estate in Iowa.