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An aerial view of the lakefront lot in the 12000 block of Lake Butler Boulevard in Windermere that recently sold.
An aerial view of the lakefront lot in the 12000 block of Lake Butler Boulevard in Windermere that recently sold. (JeffHegartyPhotography.com)

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.

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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.

Local developer sells Windermere home for $3.5M to medical clinic chain owner

Learn more about the area business owners behind this lakefront estate sale in the Waterstone community.

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.

Head of local realty services firm buys historic Morse home in Winter Park

Insight on which CRE veteran bought one of the oldest homes in Winter Park on Friday, and who he sold his other area home to the same week.

The buyers were Drs. Sanjay and Kavita M. Pattani. Sanjay specializes in emergency medicine at Florida Hospital, and Kavita specializes for Orlando Health in diseases of the ear and throat, as well as surgery on tumors.

Rob Rahter of Stockworth Realty represented the buyers.

Have a tip about Central Florida development? Contact me at bmoser@growthspotter.com, (407) 420-5685 or @bobmoser333. Follow GrowthSpotter on Facebook, Twitter and LinkedIn.

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