×

Leading Regional Coal Mining Company, The Potter Family, to Auction Nearly 1,500 Acres Including Windswept, the 430+ Acre Magnificent Lakefront Community in Morristown, Tennessee

Community-owned Manor House (Business Wire)

Diliberto Real Estate Services is Retained to Sell Three Trophy Model Residences Priced near $1 million and 200+ Improved Home Sites Originally Priced in the $400,000’s

CHICAGO--(BUSINESS WIRE)-- Diliberto Real Estate Services, LLC (http://www.dilibertorealestate.com/content/) has been retained by Lake Developers Partnership LLC, a subsidiary of coal mining magnate Mitch Potter, to bring to auction on November 9th 2012, Windswept--a magnificent approximate 432-acre, residential community comprised of luxury homes and lots strategically positioned around Cherokee Lake.

Community-owned Manor House (Business Wire)

Windswept offers residents the beauty and tranquility of country living, but also the advantage of being situated in close proximity to the busy city of Knoxville, approximately 40 miles away. Included in the auction is Windswept’s famous Manor House, with history dating back to the 1940’s. Two other parcels will be auctioned with the 432--acre Windswept, namely the 772-acre Medallion Bay; and the 257-acre Young property, aka The Club or Boy Scout camp.

With its centerpiece the stately Manor House, the entire Windswept community is situated at the foot of the Cumberland Mountains only three miles from the charming town of Morristown, rated by Forbes Magazine as “One of the best small places for business and careers” and which hosts 12 international companies as well as 12 Fortune 500 companies.

75 of Windswept’s 387 home sites have been sold, and its sales and marketing campaign will be inherited by the new owner. “It’s difficult to place a value on a one-of-a-kind property,” said Mitch Potter, CEO of the company. “We are using the auction to allow bidders to provide the evidence of value that will be our appraisal for a fast sale,” he added.

“The auction represents a rare opportunity for a developer/investor to acquire and complete a residential community, with more than 20% of the sites already sold,” said Frank Diliberto, president of Diliberto Real Estate Services.

Begun in 2005, the home sites at Windswept offer the ultimate in lakeside living. Home owners may purchase a covered boat slip in the marina and partake in social gatherings at Manor House, which offers a pool, billiard room, tennis and a kitchen.

For further information about the auction please contact Diliberto Real Estate Services, at 855 460-BIDS (2437).

Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50431387&lang=en

Rubenstein Associates, Inc.
Melanie Keenan, 212-843-8092

Source: Diliberto Real Estate Services, LLC