Minnesota construction firm exec buys rare Lake Toho estate home for $1M

A traditional brick estate home with stunning views of Kissimmee's Lake Tohopekaliga convinced the owners of a Minnesota construction firm to look outside of the tourism corridor for their new vacation home.

The 9,000-square-foot home on Kissimee's gated Grandview Boulevard features six bedrooms and multiple living and entertaining areas. Oxford Realty broker Carol Ann Hewitt sold the house in July for just over $1 million.

"One of the things that made it so special was its position on Lake Toho," Hewitt told GrowthSpotter.  "There aren't many homes in today's market where you can look out the window and see a 22,000-acre lake."

The house sits on a 0.8-acre lot with over 400 feet of lake frontage, and comes with a covered boat house and lift. 

Built in 1991 by a homebuilder, the house showcased designer upgrades, such as custom millwork in the office/library and family room, multiple fireplaces, a 47-foot-wide balcony overlooking the pool and spa. There was also a large game room, a home gym and media room.

"The floorplan allowed you to have so many different sitting areas for different age groups," Hewitt said. "It had broad exposure, as far as who would be the potential buyer. Anybody could have lived in that house, no matter if you had live-in parents or if you were a family with seven children."

This was the second time Hewitt had sold the house. She first sold it in 2004 to Danny and Lois Hall, who own thousands of acres of pasture land and sod farms in Kenansville. The Halls paid $1.4 million back then and listed it this past January for $1.49 million.  

They dropped the price to $1.35 million in June, and a month later accepted $1 million cash deal offer from Orlando Premier Investments 193 LLC, an investment vehicle for Bruce and Kristine Yerigan that also owns homes in Reunion and Celebration. 

"The (Hall) family had already moved out, and they weren't interested in holding out for a higher price," Hewett said. 

Bruce Yerigan and the couple's two children run Yerigan Construction, which his father, Dean, founded in Minnesota in 1986. They were represented by Karen Bryon with Jeeves Realty

Bryon said the couple had been looking for a short-term rental property closer to the theme parks, but asked for a viewing of the Lake Toho property after seeing the listing online.

"It was the lake that really sold the property," Bryon said. "They weren't looking at that part of Kissimmee, but they're excited to be there now."

Have a tip about Central Florida development? Contact me at lkinsler@GrowthSpotter.com or (407) 420-6261, or tweet me at @LKinslerOGrowth. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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