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VALUE ANALYSIS <br /> Not since the sale of the Pillsbury estate on Brackett's Point in 1991, <br /> has there been a Lake Minnetonka property of such scale available <br /> for sale. <br /> While it is the fervent desire of the seller that this property would <br /> sell to a sole buyer, it is understood that determining value may <br /> equate to viewing the property as a sub-divided basis. The seller <br /> will receive presentations from developers as well as individual <br /> buyers. Deed restrictions (other than those already encumbering <br /> property-site line-no build lines-see survey) are not currently <br /> required. <br /> A quantitative approach to pricing on the property can only be <br /> achieved by viewing it from a sub-divided basis. <br /> Appraisals and preliminary discussions with developers indicate a <br /> wide range of sellout potential from $12 to $21 million. <br /> Presenters should consider the following: <br /> • Seller is retaining some acreage including the "ruins" as a <br /> building site for their new home, currently being designed. <br /> • Seller will not vacate their current home until their new home <br /> is finished (18-24 months approximately). <br /> • Seller prefers as little invasion as possible of "the woods". <br /> • If developed, seller prefers as few lots as possible-retaining <br /> privacy and charm. <br /> • Seller wants to realize ultimate financial potential-but may <br /> choose to meld price, density, preservation, and esthetic <br /> considerations. <br />