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Listed By: Reed Hauck 605-847-4801 Lake Area Realty Inc. The median listing price of land in Lake Madison is $429,999. Advanced Search. Madison is not just another small town surrounding Sioux Falls, South Dakota, it is a thriving community all to itself. 3 bds; 2 ba; 2,040 sqft; 10 days on Zillow. ... 43987 122nd St, Lake City, SD 57232. Lakeshore Real Estate near Sioux Falls, SD A growing number or Sioux Falls residents are making their lake property their primary home. Search the most complete Madison, SD real estate listings for sale & rent. 411 SE 12th St. Madison, SD 57042 … Lake Madison homes for sale and real estate listings that include South Dakota MLS, condos, and foreclosures in Lake Madison, SD. 202 likes. Founded in 1998. Browse photos, see new properties, get open house info, and research neighborhoods on Trulia. Custom Touch Homes. 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