Blinking lights that move toward us then up and slowly faded.

Three of us were outside visiting at the cabin, Annandale, MN, my husband (financial advisor), sister in law (product marketing) myself (insurance broker). It looked like a spaceship launch at first just over the house looking out towards Clearwater lake from cedar lake. I pointed it out thinking it might be a shooting star. It went straight up and then began moving toward us.
It was strange how it moved toward us but at the same time we couldn’t tell exactly how close it was? It was much lager than a plane maybe half the length of a football field? The lights seemed to strobe in a pattern like glitter. It seemed to be just over the neighbors house and then it went up just above the Big Dipper slowly.
The lights fizzled out after about two minutes of us watching it. As it it slowly disappeared. So we all thought it was gone but as I looked at the spot that we “watched it disappear” we realized it was indeed stil there. Faint, but still there. It looked like a faint star but then would pulsate light faintly in the same pattern and approximately the same size as what we saw. Just above the Big Dipper, it did eventually move slowly away from the Big Dipper at about 11:45 and then I went to bed at midnight.