A pair of local doctors paid $2.5 million last week for nearly four acres of undeveloped property on the Butler Chain of Lakes in Windermere, buying from a veteran real estate developer who had held it for a prospective dream home.
Located in the 12000 block of Lake Butler Boulevard, the 3.91-acre lot abuts Lake Butler to the rear.
The property features a boathouse built by Creative Deck and Dock, and currently has a 37-year-old home of 2,810 square feet that could be demolished, or converted into a guesthouse or garage. There are no HOA fees for the community and no impact fees applied to new home development by the town.
The sellers were Thomas J. "Jim" Karr, Jr. and wife Tami Karr, who previously paid $1.1 million for the property in 2009. Jim Karr is a local real estate developer with Land Plus, and was one of the original creators of Horizon West, a series of six planned villages in west Orange County from 20,794 acres of former orange groves and other agricultural uses.
The Karrs have another home in Windermere on 2nd Avenue, and had held this nearly 4-acre lot in the past few years on the chance they wanted to build their last home there, Jim told GrowthSpotter.
"But we found we're at an age where kids are out of the house and we're downsizing," he said. "A lot on Lake Butler calls for a much bigger home than we need, so that motivated us to sell."
Suzi Karr, Jim's mother and a veteran broker in Windermere now with Premier Sotheby's International Realty, was listing agent on the property.
Rob Rahter of Stockworth Realty represented the buyers.