A gated lakefront estate on Lake Minnetonka, built by former Minnesota Vikings tight end Kyle Rudolph, is heading to auction as a co-ownership offering. The property, valued at about $15 million, sits on Fox Street in Orono, Minnesota, on a private bay. Six of the home's eight fractions are available, each representing one-eighth of the estate, with bidding opening at $1.55 million per fraction. Buyers interested in the entire property can still bid for it outright.
The auction is being conducted by DeCaro Auctions, a boutique luxury real estate auction house founded in 1983. The current owner, who purchased the home from Rudolph in 2023, is bringing it to market through this fractional structure. According to Matthew Rollins, partner and chief marketing officer at DeCaro Auctions, co-ownership lowers the entry point and expands the buyer pool. "We're not talking about $15 million anymore. We're talking about $1.55 million to own part of this property," Rollins said.
Lake Minnetonka, west of Minneapolis, has long attracted executives and business owners, and the area is increasingly becoming a year-round destination, Rollins noted. The estate offers privacy uncommon among lakefront homes, with a gated entrance and a secured approach. The house itself was designed by Rudolph with high ceilings and water views from nearly every room. Its lower level includes an indoor half court for basketball, pickleball and hockey, a professional-grade gym with a cold plunge and sauna, a golf simulator, a home theater and a second kitchen. Outside, covered seating areas and large decks surround a resort-style pool, and the lawn leads to a private dock.
Co-ownership, sometimes called fractional ownership, differs from a timeshare: each owner holds a fraction of the entire home rather than a set week or room, and owners divide carrying costs such as maintenance, taxes and insurance. A professional management company handles scheduling, cleaning and upkeep. Mario Vargas, partner and CEO of DeCaro Auctions, said co-ownership appeals even to buyers who could afford the whole property. "Somebody may have always wanted a place on the lake but decided it wasn't a smart use of their money when they'd only be there a few weeks a year," he said. "Co-ownership lets them own it, enjoy it and split the costs that come with it."
Bidders who want the entire estate can win it by outbidding the combined total of the bids on the fractions, a structure detailed on DeCaro's process page. To participate, bidders register on the auction website, review due diligence documents, submit proof of funds and place a $10,000 deposit. Auction dates will be announced on the property's page. For a home that took years to plan and build, the window to own part of it will be measured in weeks.
The offering reflects a growing trend in luxury real estate: fractional ownership as a way to make trophy properties accessible to a broader range of wealthy buyers. For the Lake Minnetonka market, it could set a precedent for how high-end homes are sold, potentially drawing new buyers who want a share of the lake lifestyle without the full cost and upkeep of a $15 million estate.
