The City of Silver Bay is located in Lake County, Minnesota, on the scenic North Shore of Lake Superior approximately 56 miles northeast of Duluth, MN on US Highway 61. The community, which was originally built by Reserve Mining Company for the employees in its taconite processing plant, was incorporated in 1956 and has approximately 2000 residents. Silver Bay, the newest community on the North Shore, lies three miles northeast of Beaver Bay, the oldest community on the North Shore.

The State of Minnesota Department of Natural Resources and the U.S. Corps of Engineers completed construction of the first harbor of refuge/marina on the North Shore of Lake Superior. The Marina opened in August of 1999. The marina is owned by the Minnesota Department of Natural Resources and is managed by the City of Silver Bay.