Realty Check: What $2.5 Million Gets You on Lake Wawasee

Perched upon one of the five largest land parcels on Lake Wawasee, this 4,710-square-foot spread on the northwest shore boasts stunning waterfront views—and its own private island just across a small bridge. Built in 2000 by Carolyn and Bill Carter (he’s the former vice chairman of Ernst & Young), the primary estate has four-and-a-half baths and seven bedrooms, all of which overlook the twinkling currents of this popular Northern Indiana playground.
Just in case you want to host a small army (or a family reunion), a compound on the island flaunts a sprawling 2,525-square-foot “guest house,” where the Carter family lived until they built the larger home. An adjacent bungalow provides two bedrooms and one bathroom. The estate also abuts beloved local haunts: The Frog Tavern is two minutes away by boat, and downtown Syracuse is only a five-minute drive.
Several areas of the interior look a bit dated, but the refurbished kitchen brings a hint of modernity to the otherwise modest design, and the quaint screened-in porch serves as a peaceful retreat for small gatherings. “Is it fancy? No, but it’s comfortable,” Realtor John Stewart says. “Life up there isn’t about the perfect decor; it’s about the serenity and the relaxation.” While the property was a summer getaway for four generations of Carters, the family is ready to pass the torch—or, rather, the canoe.

Want to Buy It?

Address: 5837 E. Island Ave., Syracuse
List Price: $2.5 million
Agents: John Stewart & Jim Poole, F.C. Tucker Company, 317-566-2399