LakefrontPhoto 1 of 30
$342,900
2 bd | 2 ba | 1,395 sqft · Condo
978 Bay View Cir, Mukwonago, WI 53149
Rentals: Room tax, no local license found
Listing courtesy of Coldwell Banker Realty · MLS# 1980064
Phantom Lakes
Two connected lakes on the edge of Mukwonago. Upper Phantom Lake is the smaller and deeper of the two, about 107 acres and 29 feet deep, and most of its shore is built up with homes. A navigable narrows leads into Lower Phantom Lake, about 433 acres and no more than about 12 feet deep, which the Mukwonago River flows through on its way to the dam near County Highway ES. Wetlands keep much of the lower lake's shore natural. The Phantom Lakes Management District has worked on the lakes since 1981, running a weed harvester and stocking fish.
- acres
- 540
- miles of shoreline
- 8
- communities
- 10
- on or reaching the water
- 9
Homes for sale on Phantom Lakes
1 lakefront home on Phantom Lakes for sale now. See them on the map.
Who sets the rental rules
The shoreline is split between 2 municipalities, and each sets its own short-term rental rules. Share of shoreline is from US Census boundaries.
About 57% of the shoreline
Town of Mukwonago
County license, check local zoning- Waukesha County Environmental Health licenses and inspects every short-term rental in the county for the state. The license runs July 1 to June 30, and the home must pass a pre-license inspection before the first guest.
- We found no Town of Mukwonago short-term rental ordinance or minimum stay published online (checked November 2026). That does not mean there are no rules. Ask the Town before you buy.
About 43% of the shoreline
Village of Mukwonago
Room tax, no local license found- Waukesha County Environmental Health licenses and inspects every short-term rental in the county for the state. The license runs July 1 to June 30, and the home must pass a pre-license inspection before the first guest.
- The Village charges a 6% room tax on short stays (Village Code § 78-3), reported and paid quarterly.
- We found no Village short-term rental license or minimum stay published online (checked November 2026). Ask the Village about zoning for a specific address.
Researched November 2026. Next review February 2027. General information, not legal advice. Associations can be stricter than the town.
Getting on the water without lake rights
The Village of Mukwonago's Phantom Glen Park, at the end of Andrews Street, has the public boat launch and a fishing pier on Lower Phantom Lake. State boat landing records list two paved lanes, a boarding dock and restrooms. Indianhead Park on Main Street, next to the lake north of the Village Hall, has a small beach and pavilion. The DNR notes that Upper Phantom Lake has access for launching a boat, but parking there is prohibited.
Recent lakefront sales on Phantom Lakes
6 lakefront homes on Phantom Lakes sold in the last 12 months, at a median of $402,500.
| Sold | Home | Sale price | Frontage | Per front foot | Listing firm |
|---|---|---|---|---|---|
| Sep 25, 2026 | 106 Phantom Lake Ct, Mukwonago, WI 53149Village of Mukwonago | $415,000 | Not listed | Shorewest Realtors, Inc.MLS# 1966766 | |
| Jul 22, 2026 | 984 Bay View Cir, Mukwonago, WI 53149Village of Mukwonago | $355,000 | Not listed | REMAX Lakeside-CentralMLS# 1965310 | |
| Jun 30, 2026 | S110W30520 YMCA Camp Rd, Mukwonago, WI 53149Town of Mukwonago | $1,600,000 | Not listed | Legendary Real Estate ServicesMLS# 1933526 | |
| Jun 8, 2026 | 971 Bay View Cir, Mukwonago, WI 53149Village of Mukwonago | $425,000 | Not listed | ERA MyPro RealtyMLS# 1966421 | |
| Dec 29, 2025 | 613 Bay View Rd, Mukwonago, WI 53149Village of Mukwonago | $390,000 | Not listed | Keller Williams Realty-Milwaukee SouthwestMLS# 1940795 | |
| Nov 21, 2025 | W302S10167 Oconee Dr, Mukwonago, WI 53149Town of Mukwonago | $284,000 | Not listed | Shorewest Realtors, Inc.MLS# 1931801 |
Communities on Phantom Lakes
Built from county plat, parcel and address records, so every subdivision and condo near the water is here, then checked against town, association and local history sources.
Lakefront (9)
Communities with homes on the water. Mixed communities also have lots that rely on shared access.
Town of MukwonagoPhantom Beach ParkSubdivision, no association foundLakefront and lake accessVillage of MukwonagoMukwonago ShoresLake access associationLakefront and lake accessVillage of MukwonagoWhispering BayCondo associationLakefrontVillage of MukwonagoPhantom Lakes PreserveCondo associationLakefrontTown of MukwonagoRuppert HeightsSubdivision, no association foundLakefront and lake accessTown of MukwonagoIdlewile ParkSubdivision, no association foundLakefrontTown of MukwonagoPhantom Lake WoodsSubdivision, no association foundLakefront and lake accessTown of MukwonagoPhantom Lake ParkSubdivision, no association foundLakefront and lake accessVillage of MukwonagoOriginal Village of MukwonagoSubdivision (original village plat)Lakefront and lake access
Near the lake (1)
Off the water, within a short walk or drive of it.
7 smaller plats and condo buildings
- Valley Ridge Estates (off-lake)
- Honey Meadows (off-lake)
- Minors Homestead (off-lake)
- A. H. Gibson Plat (off-lake)
- Elge Subdivision (reaches the shoreline (lake rights to confirm))
- Ahrens Northside Addition No 2 (off-lake)
- Village Estates Condominium (off-lake)
Looking at Phantom Lakes?
Ask me about any home or community on the lake: lake rights, association rules, what the town allows for rentals, and what homes sell for.
Sources
- Southeastern Wisconsin Regional Planning Commission
- Wisconsin DNR lake records
- Wisconsin DNR maps
- Village of Mukwonago
- US Census Bureau county subdivision boundaries (shoreline by town)
- Waukesha County land records: plats, parcels and street addresses
- Lake outline: Map data © OpenStreetMap contributors
Each community page lists its own sources. Dues, amenities and rules change, so confirm everything for a specific home before you buy.