Walloon Lake Real Estate Search

Walloon Lake Properties between $1,000,000 and $1,500,000 for Sale

Our website features the best real estate search for between $1,000,000 and $1,500,000 properties available in Walloon Lake and surrounding areas. It is the only site you will ever need! It is easy-to-use and updated by the official REALTOR®’s database every 15 minutes. 

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Newest Walloon Lake Properties between $1,000,000 and $1,500,000 for Sale

$1,240,000
4 Beds ⋅ 4 Baths ⋅ 480040 MLS ⋅ ACTIVE Status
Stunning family or vacation home with lush, easily maintained grounds, set amongst a dramatic pine and deciduous forest, evoking a feeling of complete tranquility, with Walloon Lake access just 300 yards away. It's almost like a treehouse, yet once inside this architecturally pleasing home, you'll find 4 bedrooms and 4 full bathrooms that complement an open-concept plan across two floors with custom finishes through a stylistic lens. Every detail was painstakingly vetted to maintain a modern aesthetic while keeping the laid-back Walloon Lake vibe that translates into a home that you want to hang out in, not just a place to sleep. The choice of materials is unique, but they all fit together in one bold narrative. Outside provides an abundance of living space with front and rear decks, plus a fire pit in the woods and a beautiful combination of hardscape and natural ground cover. The front side deck starts at the convenient "Grillers Door" just off the kitchen and leads to a picturesque lounging/dining space built for afternoon sun and pure relaxation. The rear deck begins off the primary suite and serves as a private access point to a custom sauna and Hot Tub. You see, every detail has been carefully conceived to live as individuals currently do, and every feature throughout the home is custom, from cabinetry to lighting, to shelving, floors, doors, tile choices... the home is a showcase for current design trends, but in an understated way, as a space to live in and work modern individuals do. If the house and grounds are not enough, there is also a gigantic 32 x 40 outbuilding to keep boats, extra vehicles, and toys. How to access the lake?  At the end of Fourth Street, there is an access point to get to the lake with a boat launch just a half mile away and the bustling village of Walloon just past that.  This is truly a remarkable home and property, available for private showings with notice, please. Call today for a private tour.

4497 Fourth Street, Walloon Lake
$1,299,000
3 Beds ⋅ 2 Baths ⋅ 478905 MLS ⋅ ACTIVE Status
Introducing the reimagined Junction Bar & Grill—an iconic Walloon Lake establishment, completely transformed through a comprehensive 2023 renovation, offering a rare, turnkey hospitality asset in one of Northern Michigan’s most desirable resort corridors. Positioned prominently at the intersection of US-131 and M-75, this high-visibility property delivers a dynamic, multi-revenue business model. The beautifully updated restaurant is complemented by a highly versatile roller rink and event venue—currently generating steady cash flow through public use, private celebrations, weddings, and live entertainment. An additional bar permit enhances the experience, allowing for alcohol service within the event space. The offering includes a full Class C liquor license and Specially Designated Merchant (SDM) license, permitting carry-out sales—further elevating revenue potential. Residential components include a single-family home ideal for an owner-operator or executive housing, along with a one-bedroom apartment above the venue, creating additional flexibility and income opportunity. This is more than a business—it’s a lifestyle investment with scale, versatility, and significant upside in a market defined by tourism, affluence, and year-round appeal.

4472 M-75 Highway, Walloon Lake
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IDX information is provided exclusively for consumers’ personal, non-commercial use, it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS. © 2026 NM-MLSX.