Wisconsin’s luxury market offers a distinct blend of natural beauty, waterfront serenity, and refined living, where $5 million can secure more than just a home, but a lifestyle.
Whether it’s a private retreat on the shores of Lake Geneva, a sprawling estate hidden within rolling woodlands, or a contemporary residence in a thriving city, these properties showcase the best of upscale living.
Expansive acreage, panoramic water views, and custom architectural details make each home a statement of elegance and comfort. With a mix of historic charm and modern sophistication, Wisconsin’s high-end properties offer something for every discerning buyer. Take a look at eight exceptional homes that highlight what $5 million can buy in the Badger State.
8. Green Lake, WI – $5,250,000
This 7,111 sq ft contemporary home in Green Lake, WI, is valued at $5,250,000 and features 6 bedrooms and 6 baths. Custom-built with high-end craftsmanship, it includes custom cabinetry, three fireplaces, and a Control 4 automation system for seamless home management. The indoor Endless pool, sauna, and gym provide wellness amenities, while the 3-season porch offers a space to unwind in any weather. A 4.5-car garage, boathouse, and large toy barn provide ample storage and recreation options for watercraft and outdoor equipment. Designed for both comfort and functionality, the home also includes a dedicated bunk room, three spacious living areas, and thoughtfully designed spaces for relaxation, entertainment, and everyday living.
Where is Green Lake, WI?
Green Lake, Wisconsin, is located in the south-central part of the state, in Green Lake County. It lies approximately 30 miles west of Oshkosh, 90 miles northwest of Milwaukee, and about 70 miles southwest of Green Bay. Positioned along Wisconsin Highway 23, Green Lake is home to the state’s deepest natural inland lake, offering opportunities for boating, fishing, and water recreation. The area is known for its scenic beauty, outdoor activities, and historic resorts, making it a popular destination for visitors seeking relaxation and adventure in a charming lakeside setting.
Living Room
The living room features a fireplace as its centerpiece, with expansive windows bringing in natural light and views of the outdoors. Designed as part of an open layout, this space connects seamlessly to other areas of the 6-bed, 6-bath home. Seating is arranged to maximize comfort and functionality, making it ideal for gatherings.
Kitchen and Dining Area
The kitchen is anchored by a large island with seating, offering both a workspace and a place to gather. Positioned under vaulted ceilings, the dining area is illuminated by modern pendant lighting and flows effortlessly into the main living spaces. With 6 bedrooms and 6 bathrooms, the home is designed for both daily convenience and entertaining.
Sunroom
The sunroom is enclosed by floor-to-ceiling windows, providing an uninterrupted view of the surrounding landscape. A built-in fireplace makes this space functional in all seasons, enhancing the connection between indoor and outdoor living. This feature is one of many in this 6-bedroom, 6-bathroom home, offering a versatile retreat.
Entertainment Room
The entertainment room is designed for relaxation, featuring a built-in media unit and ample seating. Open shelving adds functionality, while the glass-railed staircase leads to the upper level. Part of a thoughtfully designed 6-bed, 6-bath layout, this space integrates seamlessly with the rest of the home.
Bedroom
The bedroom captures natural light through its floor-to-ceiling windows, offering direct views of the water. A built-in fireplace adds warmth, creating a peaceful retreat within this 6-bed, 6-bath home. Positioned for privacy, the space maintains an open connection to the rest of the home.
Outdoor Deck
The outdoor deck extends along the back of the home, providing space for dining, lounging, and entertaining. A built-in grill and prep station enhance the functionality, while glass railings maintain an open feel. Accessible from multiple rooms, this feature complements the 6-bedroom, 6-bathroom home’s seamless indoor-outdoor flow.
Source: Jeffrey Shadick @ Better Homes And Gardens Real Estate Special Properties via Coldwell Banker Realty
7. Sturgeon Bay, WI – $4,900,000
Set on over 12 acres in Sturgeon Bay, WI, this 6,101 sq ft residence is valued at $4,900,000 and features 7 bedrooms and 5 baths. Thoughtfully redesigned for modern living, the home retains its old-world charm with transom windows, clawfoot bathtubs, and five fireplaces. Original woodwork and hardwood floors complement contemporary updates, while the spacious kitchen includes marble countertops, high-end appliances, and custom cabinetry. Two sunrooms and a finished lower level expand the living space, providing flexibility for gatherings and relaxation. Outdoors, a private beach, a pickleball court, and wooded surroundings create a retreat-like setting.
Where is Sturgeon Bay, WI?
Sturgeon Bay, Wisconsin, is located in Door County in the northeastern part of the state. It lies approximately 40 miles northeast of Green Bay, 150 miles north of Milwaukee, and about 250 miles north of Chicago. Positioned along State Highway 42/57, Sturgeon Bay serves as the gateway to the Door Peninsula, a region known for its waterfront views, historic lighthouses, and outdoor recreation. The city is a hub for maritime activities, featuring a deep-water harbor, shipbuilding heritage, and access to both Lake Michigan and Green Bay, making it a popular destination for boating, fishing, and tourism.
Dining Room
The dining room is designed for gatherings, with a large table that seats multiple guests. Warm tones and wood accents define the space, complementing the classic architectural details. As part of a 7-bed, 5-bath home, this area connects easily to other entertaining spaces.
Kitchen
The kitchen features a spacious island with seating, offering ample prep space and storage. Stainless steel appliances and custom cabinetry enhance functionality, while multiple windows bring in natural light. Designed for convenience, this 7-bedroom, 5-bathroom home includes a layout that supports both daily use and hosting.
Bedroom
The bedroom is positioned for privacy, with large windows allowing natural light to brighten the space. Hardwood floors and classic trim details contribute to the overall design. As one of 7 bedrooms in this home, it offers a comfortable retreat with easy access to the home’s shared amenities.
Sunroom
The sunroom provides a year-round space for relaxation, surrounded by large windows that frame outdoor views. A wood-paneled ceiling and soft lighting create a welcoming atmosphere. Located within this 7-bed, 5-bath home, this area enhances the connection between indoor and outdoor living.
Entertainment Room
The entertainment room offers a dedicated space for leisure, with a pool table and seating area arranged for comfort. Built-in features provide storage, while recessed lighting ensures visibility. Part of a thoughtfully designed 7-bedroom, 5-bathroom home, this space is ideal for recreation and gatherings.
Source: David Kaster @ Mahler Sotheby’S International Realty via Coldwell Banker Realty
6. Elkhorn, WI – $4,499,700
Overlooking the Lauderdale Lakes, this 5,450 sq ft home in Elkhorn, WI, is valued at $4,499,700 and features 4 bedrooms and 4 baths. Rich in historical details, the 1,200 sq ft ballroom showcases original hard rock maple floors and Meiji-era Japanese lanterns, while the original Opium Den is prepped for a future hidden wine cellar. The kitchen is equipped with custom marble countertops, a farm sink, and Wolf & Sub-Zero appliances, complementing the home’s timeless character. The master suite includes a luxury freestanding tub, a full steam room, and a private deck with a fireplace. A finished swim basin provides access to the marquee wet boathouse, complete with underwater lighting.
Where is Elkhorn, WI?
Elkhorn, Wisconsin, is located in Walworth County in the southeastern part of the state. It lies approximately 40 miles southwest of Milwaukee, 15 miles north of Lake Geneva, and about 90 miles northwest of Chicago. Positioned along Interstate 43 and U.S. Highway 12, Elkhorn serves as a regional hub with a blend of small-town charm and accessibility. The city is known for hosting the Walworth County Fair, one of the largest in the state, as well as its historic downtown, featuring local shops and restaurants. Surrounded by rolling farmland and close to numerous lakes and parks, Elkhorn offers opportunities for outdoor activities such as boating, fishing, and hiking, making it a desirable location for both residents and visitors.
Living Room
The living room centers around a fireplace, with seating arranged for conversation and relaxation. Large windows bring in natural light, enhancing the connection to the outdoors. As part of a 4-bed, 4-bath home, this space offers both comfort and function for everyday living.
Kitchen
The kitchen is designed for efficiency, featuring a spacious island with seating and ample counter space. Stainless steel appliances and custom cabinetry provide functionality, while pendant lighting enhances the space. Positioned in a 4-bedroom, 4-bathroom home, this layout supports both cooking and entertaining.
Bedroom
The bedroom includes direct access to an outdoor terrace, offering a seamless indoor-outdoor connection. A chandelier and decorative trim add character, complementing the open layout. As one of 4 bedrooms in this home, it provides a private retreat with an en-suite bath.
Game Room
The game room is designed for entertainment, with a pool table as the focal point and built-in shelving for storage. Large windows bring in natural light, creating a comfortable setting for leisure. Located in a 4-bed, 4-bath home, this space serves as a dedicated recreation area.
Indoor Pool
The indoor pool is positioned within a garage-style enclosure, offering a year-round swimming option. Large doors open to the outside, allowing for flexible use and ventilation. As part of a 4-bedroom, 4-bathroom home, this feature enhances both relaxation and convenience.
Source: Jerry Kroupa @ Properties via Coldwell Banker Realty
5. Manitowish Waters, WI – $5,100,000
Spanning 323 acres with 5,800 feet of water frontage, this 2,643 sq ft property in Manitowish Waters, WI, is valued at $5,100,000 and includes 4 bedrooms and 3 baths across three distinct homes. The original 1920 log home features 1 bedroom, 1 bath, a gas fireplace, and a sunroom with panoramic views of Dead Pike Lake, leading to a 15×26′ deck for sunset views and the call of loons. A second cedar home includes a kitchenette and a flexible living space that can convert into a bedroom, making it ideal for guests or a mother-in-law suite. The third half-log guest home, located past the 4-car garage, showcases a two-story stone fireplace, two private bedrooms, a dining area, and a wall of windows framing lake views. Nestled among towering pine and hardwood trees, the property also features open spaces for campfires, outdoor games, and gatherings with family and friends.
Where is Manitowish Waters, WI?
Manitowish Waters, Wisconsin, is located in Vilas County in the northern part of the state. It lies approximately 50 miles north of Minocqua, 85 miles southeast of Duluth, Minnesota, and about 250 miles north of Milwaukee. Positioned along U.S. Highway 51, Manitowish Waters is part of Wisconsin’s Northwoods, known for its pristine lakes, dense forests, and outdoor recreation. The area is home to the Manitowish Waters Chain of Lakes, a system of ten interconnected lakes offering boating, fishing, and kayaking. With abundant hiking and biking trails, as well as a rich history tied to the Northwoods’ logging and resort era, Manitowish Waters is a popular destination for nature lovers, anglers, and outdoor enthusiasts year-round.
Living Room
The living room features rustic log walls, exposed beams, and a stone fireplace, creating a warm and inviting space. Large windows bring in natural light, while glass doors open to a sunroom overlooking the outdoors. As part of a 4-bed, 3-bath home, this central gathering space blends comfort and functionality for everyday living or entertaining.
Dining Area
The dining area is surrounded by large windows, providing a view of the surrounding landscape and allowing natural light to filter in. A vintage-style chandelier hangs above the table, complementing the log walls and wood flooring. Located within this 4-bedroom, 3-bathroom home, this space offers a quiet setting for meals while maintaining a connection to nature.
Bedroom
The bedroom is finished with natural wood paneling, creating a cabin-like feel that enhances the home’s rustic charm. A window positioned at the head of the bed allows fresh air and natural light to enter, framing a view of the outdoors. As one of 4 bedrooms in this home, it serves as a private retreat while maintaining easy access to the shared living areas.
Source: Marilyn Haroldson @ RE/MAX Excel via Coldwell Banker Realty
4. Oconomowoc, WI – $4,499,000
This 6,639 sq ft lakefront home in Oconomowoc, WI, is valued at $4,499,000 and includes 6 bedrooms and 5 baths. Originally built in 2004 by Moore Designs, it has undergone major updates, including a chef’s kitchen and wet bar by Dream Kitchens in 2019, a master suite renovation with a wet bath and 5′ infrared sauna in 2023, and a permanent pier/boat dock added in 2020. The fully finished walk-out lower level features a billiard room, bar, natural fireplace, laundry, changing room, full kitchen, bedroom, and full bath. Outdoor amenities include a Sport Court for basketball and pickleball, a multi-level patio facing the lake, a 20’x40′ heated in-ground pool, an outdoor shower, and an elevated seating area with a gas fire pit. Additional storage includes a 320 sq ft master closet and a 1,230 sq ft garage, ensuring ample space for organization and functionality.
Where is Oconomowoc, WI?
Oconomowoc, Wisconsin, is located in Waukesha County in the southeastern part of the state. It lies approximately 35 miles west of Milwaukee, 50 miles east of Madison, and about 120 miles northwest of Chicago. Positioned along Interstate 94, Oconomowoc is nestled in the Lake Country region, surrounded by numerous lakes, including Lac La Belle and Oconomowoc Lake. The city is known for its scenic waterfront views, historic downtown, and vibrant community events. With a mix of recreational opportunities, local shops, and cultural attractions, Oconomowoc offers a balance of small-town charm and modern amenities, making it a sought-after destination for residents and visitors alike.
Living Room
The living room features a soaring ceiling, a statement fireplace, and a mezzanine-level overlook. A built-in bar enhances the functionality, while arched entryways lead to adjacent spaces. As part of a 6-bed, 5-bath home, this central gathering area blends comfort with elegant design.
Dining Room
The dining room is designed for formal gatherings, with a long table positioned beneath a sculpted ceiling. Large windows allow natural light to filter in, while decorative elements enhance the ambiance. Located within a 6-bedroom, 5-bathroom home, this space is ideal for hosting memorable occasions.
Kitchen
The kitchen is equipped with high-end appliances, a spacious island, and custom cabinetry. Overhead lighting and an open layout connect the space seamlessly to the living and dining areas. Designed for convenience, this 6-bed, 5-bath home offers a kitchen built for both daily use and entertaining.
Bedroom
The bedroom features detailed wall paneling, a fireplace, and a chandelier. A private sitting area adds functionality, while large windows provide natural light and a view of the outdoors. As one of 6 bedrooms in this home, it offers a balance of privacy and comfort.
Bar Area
The bar area includes a curved counter with seating, pendant lighting, and built-in shelving for storage. Wood-paneled walls add character, complementing the open design. Positioned within a 6-bedroom, 5-bathroom home, this space is designed for casual gatherings and entertaining.
Outdoor Pool
The outdoor pool is surrounded by a paved deck, offering space for lounging and dining. Terraced landscaping and a fenced perimeter provide both privacy and an open view of the surroundings. As part of a 6-bed, 5-bath home, this outdoor feature extends the living space for warm-weather enjoyment.
Source: Becky Thomas Real Estate Group @ Keller Williams Realty-Lake Country via Coldwell Banker Realty
3. Middleton, WI – $4,750,000
Situated in Middleton’s premier enclave, this 11,292 sq ft home is valued at $4,750,000 and offers 7 bedrooms and 9 baths. A grand entrance framed by manicured landscaping leads to spacious living areas with high ceilings, crown molding, and custom built-ins. The chef’s kitchen is designed with top-of-the-line appliances, natural stone countertops, and custom cabinetry, seamlessly connecting to elegant dining and gathering spaces. Entertainment options include a home theater, full bar, wine cellar, and an outdoor patio with a fire pit, kitchen, oasis pool, and built-in hot tub. A finished 5+ car heated garage, along with luxury finishes throughout, ensures both convenience and sophistication.
Where is Middleton, WI?
Middleton, Wisconsin, is located in Dane County in the south-central part of the state. It lies approximately 7 miles west of downtown Madison, 90 miles west of Milwaukee, and about 150 miles northwest of Chicago. Positioned along U.S. Highway 12, Middleton is a growing suburban community known for its strong local economy, highly rated schools, and access to outdoor recreation. The city features Lake Mendota to the east, a network of parks and trails, and a thriving downtown with shops, restaurants, and cultural attractions. With its close proximity to Madison and the University of Wisconsin, Middleton offers a blend of suburban comfort and urban convenience.
Living Room
The living room features a floor-to-ceiling stone fireplace, herringbone wood flooring, and double-height windows that bring in natural light. An open mezzanine adds a sense of space, while built-in shelving provides storage. As part of a 7-bed, 9-bath home, this central gathering area is designed for both relaxation and entertaining.
Dining Area
The dining area is surrounded by large windows, offering a view of the landscaped backyard. A built-in buffet with glass cabinetry provides storage, while French doors lead to an outdoor seating area. Located in a 7-bedroom, 9-bathroom home, this space serves as a casual dining option with plenty of natural light.
Kitchen
The kitchen is designed for both function and style, featuring a large island with seating, high-end appliances, and custom cabinetry. Pendant lighting and recessed fixtures illuminate the space, while an open floor plan connects it to adjacent areas. With 7 beds and 9 baths, this home includes a kitchen built for large gatherings and everyday use.
Primary Bedroom
The primary bedroom offers a spacious layout with large windows, a tray ceiling, and an en-suite bath. A seating area provides additional comfort, while neutral tones enhance the relaxing atmosphere. As one of 7 bedrooms in this home, it provides a private retreat with easy access to luxury amenities.
Bar Room
The bar room includes a coffered ceiling, built-in cabinetry, and a central bar with seating. Dark wood finishes contrast with soft lighting, creating a space designed for entertaining. Positioned in a 7-bedroom, 9-bathroom home, this area serves as a dedicated lounge for social gatherings.
Outdoor Kitchen
The outdoor kitchen features a built-in grill, stone countertops, and a covered dining area. Ceiling fans provide ventilation, while recessed lighting allows for evening use. As part of a 7-bed, 9-bath home, this space extends the functionality of the home into the outdoors.
Pool Area
The pool area is designed for relaxation, featuring a modern layout with multiple water features. Lounge seating surrounds the space, while a landscaped backdrop provides privacy. With 7 bedrooms and 9 bathrooms, this home includes a backyard designed for both recreation and entertaining.
Source: Chas Martin @ Sprinkman Real Estate via Coldwell Banker Realty
2. River Falls, WI – $5,700,000
Set on 320 acres, this River Falls, WI, horse property is valued at $5,700,000 and includes a 6,863 sq ft log home with 5 bedrooms and 6 baths. Built in 1992, the home features an executive kitchen, a great room with a stone fireplace, a sunroom, and expansive decking overlooking an in-ground pool and pastures. A detached heated 5-stall garage provides storage, while a fully finished walk-out basement adds additional living space. The 27,000+ sq ft heated Morton barn includes 18 box stalls, three tack rooms, hay storage, wash and grooming stalls, air-conditioned offices, conference rooms, break rooms, and a guest apartment. Equestrian facilities include an 80×180 heated indoor arena, a 47×48 round pen, a 150×300 outdoor arena, and a 13,400+ sq ft outbuilding with 5 heated box stalls, a workshop, a game room, and an additional apartment.
Where is River Falls, WI?
River Falls, Wisconsin, is located in Pierce and St. Croix counties in the western part of the state. It lies approximately 30 miles east of Minneapolis-St. Paul, 20 miles south of Hudson, and about 250 miles northwest of Milwaukee. Positioned along Wisconsin Highway 35 and U.S. Highway 65, River Falls is home to the University of Wisconsin–River Falls, contributing to its vibrant college-town atmosphere. The Kinnickinnic River, known for its excellent trout fishing and scenic beauty, runs through the city, offering opportunities for kayaking, hiking, and outdoor recreation. With a mix of small-town charm, natural surroundings, and proximity to the Twin Cities, River Falls is a dynamic community with a blend of rural and urban influences.
Living Room
Expansive ceilings and a floor-to-ceiling stone fireplace define this space, creating a central gathering area. Large windows frame the surrounding views, bringing natural light into this 5-bedroom, 6-bath home. Open access to adjacent spaces enhances the seamless flow throughout.
Dining Area
A vaulted ceiling with exposed beams complements the log walls, setting the tone for a warm dining experience. Positioned between the kitchen and outdoor access, this space connects effortlessly in this 5-bedroom, 6-bath home. A central chandelier casts soft lighting over the spacious table.
Kitchen
Custom wood cabinetry and granite countertops enhance the functionality of this well-appointed kitchen. A central island provides seating and prep space, anchoring the heart of this 5-bedroom, 6-bath home. High-end appliances and ample storage cater to both everyday meals and large gatherings.
Primary Bedroom
A rustic retreat featuring exposed log walls and a fireplace, this bedroom offers a private getaway. Natural wood elements and soft lighting contribute to a relaxing atmosphere in this 5-bedroom, 6-bath home. Multiple doors lead to additional living areas and en-suite amenities.
Office Space
A dedicated office with large windows offers a functional workspace. Neutral tones and ample seating make it a practical addition to this 5-bedroom, 6-bath home. Positioned near other key areas, it provides flexibility for meetings or quiet productivity.
Stable
A spacious stable with individual stalls and durable finishes ensures top-tier care for horses. Designed for convenience, it complements the acreage of this 5-bedroom, 6-bath home. Ventilation, storage, and organization cater to equestrian needs.
Source: Melissa Wiegele @ Coldwell Banker Realty
1. Elkhart Lake, WI – $5,500,000
This 5,000 sq ft Tudor Revival estate in Elkhart Lake, WI, is valued at $5,500,000 and features 4 bedrooms and 3 baths. Built in 1935 as the historic Tern & Anchor, the home sits on 80 feet of pristine waterfrontage near the heart of the Village and the iconic Hard Left turn, a key point in the area’s racing heritage. Recently updated, the four-level home offers sweeping lake views from all major rooms, blending historic charm with modern conveniences. A private dock, a two-car garage, and a boathouse provide ample storage and direct water access. With its rich history and premier location, this estate stands as a landmark of Elkhart Lake’s storied past.
Where is Elkhart Lake, WI?
Elkhart Lake, Wisconsin, is located in Sheboygan County in the eastern part of the state. It lies approximately 20 miles northwest of Sheboygan, 60 miles north of Milwaukee, and about 140 miles northeast of Madison. Positioned along State Highway 67, Elkhart Lake is known for its crystal-clear lake, offering boating, fishing, and waterfront recreation. The village is home to Road America, a world-renowned motorsports road course that attracts racing enthusiasts from around the globe. With a historic downtown, resorts, and scenic natural surroundings, Elkhart Lake is a popular destination for both relaxation and outdoor adventure.
Living Room
The living room features a wall of expansive windows, allowing natural light to highlight the exposed wood beams and open-concept design. Overlooking scenic water views, this inviting space seamlessly connects to the dining area, creating a warm and functional layout. With 4 beds and 3 baths, this home is designed for both relaxation and entertaining.
Dining Room
The dining room is surrounded by floor-to-ceiling windows, framing the lush landscape and providing a bright, inviting atmosphere. A long wooden table sits at the center, offering ample seating for gatherings of all sizes. Part of a thoughtfully designed 4-bedroom, 3-bath home, this space is ideal for hosting meals in a picturesque setting.
Kitchen
The kitchen features an arched opening that connects effortlessly to the living space, ensuring a natural flow. Granite countertops offer both style and function, while custom cabinetry provides generous storage. Designed for everyday convenience, this well-equipped kitchen is a highlight of this 4-bed, 3-bath home.
Entertainment Room
The entertainment room centers around a striking stone fireplace, with exposed beams adding warmth and character. A spacious seating area provides a comfortable setting for relaxation, while built-in features enhance functionality. As part of a 4-bedroom, 3-bath residence, this inviting space is perfect for unwinding with family and friends.
Sunroom
The sunroom is lined with panoramic windows, creating a bright retreat that blends indoor and outdoor living. A brick accent wall and wood-paneled flooring add charm, while the layout maximizes views of the surrounding landscape. One of many highlights in this 4-bed, 3-bath home, this space offers a tranquil setting to relax year-round.
Source: Timothy Jagemann @ Elkhart Lake Realty via Coldwell Banker Realty
