'Magical island kingdom' is for sale off Maine coast for $8M

Markets Associated Press

A private island replete with a mansion, two guest houses and a barn with workers' quarters is on the market in Maine for $7.95 million.

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Developer John Cacoulidis (kack-uh-lee-dus) bought the 86-acre (0.13-square-mile) Hope Island in 1993 for $1.3 million. The real estate listing says, "No expense was spared creating this magical island kingdom."

The property includes an 11,295-square-foot (1,049-square-meter) main house with six bathrooms and three bedrooms. It also features a 10-stall horse barn, a tavern for entertaining, a private chapel and a boat house with a deep-water pier.

The property in Casco Bay is a 25-minute boat ride from Portland.

The real estate agent tells the Portland Press Herald Cacoulidis is no longer using the island like he had in the past. His wife died last year.