Louise Grace, one of 12 children of shipping magnate and W.R. Grace founder William Russell Grace, built a house on Islesboro in 1918, following the trend of “rusticators” at the time that constructed grand residences where they could vacation away from the heat and bustle of New York summers.
The stucco home is now one of the island’s landmark summer cottages. It has eight bedrooms and 11 bathrooms, and is for sale at almost $9.8 million. That is the highest price for properties listed in Maine this year. One home in Bar Harbor tops that at $11.2 million, but it has been on the market since July 2022.
Known as the Grace Estate, it sits on 8.8 acres in the Keller Point area with views of Camden Hills and Seal Harbor. The primary bedroom has two bathrooms, while each of the seven guest bedrooms has its own bath.
The property, located at the end of a private peninsula, includes a stone guest house abutting the 3,570 feet of shorefront. That guest house was inspired by the seaside cottages that Louise Grace admired when she visited Italy, according to the real estate company’s blog about the home. The current owners, who have updated the home, reconstructed a saltwater swimming pool and added a paddle tennis court. It also has a chicken coop, storage barn and a boathouse.
Islesboro is about 3 miles off midcoast Maine and can be reached by a public ferry across upper Penobscot Bay or private aircraft on the island’s 2,500-foot airstrip. It is not possible to drive from the mainland to the island, but the ferry does transport cars.
The home is about 24 miles north of Thomaston, where Louise Grace’s mother was raised. Her father was the first Irish-American Roman Catholic mayor of New York City, serving two terms starting in 1880. During his second term he received the Statue of Liberty as a gift from France. With his brother, he founded the Grace Institute for the education of women, especially immigrants.
The Grace Estate is located on Hermit’s Point Road, a secluded area of the island that is aptly named. Islesboro has a year-round population of about 600. It has one grocery store, a medical center, mail service and a couple specialty shops. Those wanting more activities can go to Camden for dinner.
Louise Grace was an accomplished artist who added a studio to the house so she could paint. But the real estate firm said in a blog that “the simplicity and solitude of the island is one of its draws.”