HOPE, IDAHO -- If you’re looking for the ultimate lakefront property this might be for you. There are only three private islands on Lake Pend Oreille and for the first time in decades one is up for sale.

Memaloose Island is a boat ride from Hope, Idaho. If you're looking for an escape this might be the place. The only way to get here is by boat and since it's a private oasis you've got to be a guest.

"The island is a 13 acre piece of property with the shores of Lake Pend Oreille wrapped around the entire thing,” Tom Puckett with Century 21 Riverstone said.

The current owners of the island are John and Laura Knight.

“Everybody that's ever come here, all of a sudden they get a completely peaceful attitude about them. Something about the place you know," Knight said.

Deer, moose, and other wildlife like stopping by. John an Laura say the name of the island – Memaloose – is native for a place to release the spirits. It's hardly been developed and historic cabins sit untouched.

“It’s got the original homestead, which is 100 years old,” Tom Puckett said.

The island comes equipped with underground power, a well, and the potential of building three to four homes, though John would like to see the future owner preserve the rustic feel.

“I’d like to see it got to a family. I'd like to keep it from being developed,” John said.

Back in 1962, John's parents bought the island but now the family is selling it. Their asking price has dropped from $16 Million dollars to $5 Million. The main reason for the sale is that taking care of an island is a lot of work.

Now with the For Sale signs up John says it will be hard to say one final goodbye.

“When I have to hand the keys over to them and walk away. Hopefully he'll invite me back sometime,” he said.

To find out more about Memaloose Island click here.