El Dorado Estates, Inc. was incorporated in January 1955, with Washington, D.C. real estate developer Leon Ackerman as its only shareholder. In October 1955, the company's name was changed to Indian Lake Estates, Inc. and it purchased a large tract of undeveloped land on the shores of Lake Walk-in-Water, about 19 miles southeast of Lake Wales.[3] The company purchased the 12-square-mile tract for $222,000, or roughly $35 per acre.[3][4]
Ackerman envisioned an exclusive gated community of 15,000 residents, complete with golf course, country club, marina, and pier on Lake Walk-in-Water.[5][6] In December 1955, the first plat of the 7,200-acre community was recorded at the county courthouse.[7] The company invested millions to build a network of canals near the lake, a quarter-mile pier, and 200 miles of roads throughout the development, of which 98 miles are paved.[6][4] Prices for half-acre lots in the community started at $2,250. However, most of the buyers of plots were land speculators and only about 150 homes were built in the initial years after the community was founded. By 1959, financial problems seemed imminent and the following year Ackerman sold his interest in the company to Alaska Oil & Mineral Company, Inc.[7] However, the Indian Lake Estates, Inc. went bankrupt in April 1965.[5] As of 2009, there are about 700 homes, mostly near the lake or golf course, on the community's over 8,000 lots.[7]
^ abBair, Bill (October 2, 2002). "Remote Community Struggles With Issues That Keep It From Blossoming". The Ledger. Retrieved December 15, 2016.
^ abcBair, Cinnamon (July 1, 2007). "Indian Lakes Estates Fell Short of Prospect". The Ledger. Retrieved December 15, 2016.
^ abSnyder, Jack (November 3, 1986). "Land Of Lost Dreams Developments Of Days Past Awakening From Deep Sleep". Orlando Sentinel. Retrieved December 15, 2016.
^ abcStuart, Paula (December 6, 2009). "Small ridge community grew on shore of Lake Walk-In-Water". The Ledger. Retrieved December 15, 2016.
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indian, lake, estates, florida, indian, lake, estates, unincorporated, community, polk, county, florida, united, states, indian, lake, estates, located, eastern, shore, lake, weohyakapka, lake, walk, water, miles, east, southeast, lake, wales, unincorporated, . Indian Lake Estates is an unincorporated community in Polk County Florida United States Indian Lake Estates is located on the eastern shore of Lake Weohyakapka Lake Walk in Water 14 miles 23 km east southeast of Lake Wales Indian Lake Estates FloridaUnincorporated communityIndian Lake EstatesShow map of FloridaIndian Lake EstatesShow map of the United StatesCoordinates 27 48 50 N 81 22 42 W 27 81389 N 81 37833 W 27 81389 81 37833CountryUnited StatesStateFloridaCountyPolkElevation69 ft 21 m Time zoneUTC 5 Eastern EST Summer DST UTC 4 EDT ZIP code33855 1 Area code863GNIS feature ID295792 2 Contents 1 History 2 Notable residents 3 References 4 External linksHistory editEl Dorado Estates Inc was incorporated in January 1955 with Washington D C real estate developer Leon Ackerman as its only shareholder In October 1955 the company s name was changed to Indian Lake Estates Inc and it purchased a large tract of undeveloped land on the shores of Lake Walk in Water about 19 miles southeast of Lake Wales 3 The company purchased the 12 square mile tract for 222 000 or roughly 35 per acre 3 4 Ackerman envisioned an exclusive gated community of 15 000 residents complete with golf course country club marina and pier on Lake Walk in Water 5 6 In December 1955 the first plat of the 7 200 acre community was recorded at the county courthouse 7 The company invested millions to build a network of canals near the lake a quarter mile pier and 200 miles of roads throughout the development of which 98 miles are paved 6 4 Prices for half acre lots in the community started at 2 250 However most of the buyers of plots were land speculators and only about 150 homes were built in the initial years after the community was founded By 1959 financial problems seemed imminent and the following year Ackerman sold his interest in the company to Alaska Oil amp Mineral Company Inc 7 However the Indian Lake Estates Inc went bankrupt in April 1965 5 As of 2009 there are about 700 homes mostly near the lake or golf course on the community s over 8 000 lots 7 Notable residents editHarold Edward Red Grange 1959 1991 5 References edit United States Postal Service 2012 USPS Look Up a ZIP Code Retrieved February 15 2012 Indian Lake Estates Geographic Names Information System United States Geological Survey United States Department of the Interior a b Indian Lake Estates Inc v Stewart 448 F 2d 574 United States Court of Appeals for the Fifth Circuit 1971 a b Bair Bill October 2 2002 Remote Community Struggles With Issues That Keep It From Blossoming The Ledger Retrieved December 15 2016 a b c Bair Cinnamon July 1 2007 Indian Lakes Estates Fell Short of Prospect The Ledger Retrieved December 15 2016 a b Snyder Jack November 3 1986 Land Of Lost Dreams Developments Of Days Past Awakening From Deep Sleep Orlando Sentinel Retrieved December 15 2016 a b c Stuart Paula December 6 2009 Small ridge community grew on shore of Lake Walk In Water The Ledger Retrieved December 15 2016 External links editOfficial website This article about a location in Polk County Florida is a stub You can help Wikipedia by expanding it vte Retrieved from https en wikipedia org w index php title Indian Lake Estates Florida amp oldid 1167177298, wikipedia, wiki, book, books, library,
