The Woodlands at Linner (Minnetonka, Minnesota)

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The Woodlands at Linner

This parcel was originally site of the Curtis Carlson Nelson House (1555 Linner Road). The private mansion was set so far back from the street its backyard and pool were closer to its neighbors than many other houses in the area, despite the nearly 5 acres. It was also registered to the Curtis And Marjorie Nelson Family Foundation. Curtis Nelson is the grandson of Carlson Companies founder Curt Carlson. His mother is currently the CEO of the giant private company that includes the Radisson Hotel chain, TGI Fridays and travel agencies. The Carlson Companies are headquartered just north of the freeway.

When Curtis Carlson Nelson got divorced in 2009, a special magistrate handling the divorce said the couple's debt was nearly $9.5 million at the date of their separation at the end of 2006. This led to this house (as well as it's smaller cousin at 1553 Linner Road) to be foreclosed and sold.

According to it's listing on Edina Realty as of April 2011:
Price: $5,450,000
Property Type: Single Family
Bedrooms:4
Bathrooms:4 Full, 2 Three-Qtr, 2 Half
Lot Size:4.98 Acres
Square Feet:9,514 (approx)
Year Built:1992
Foundation:3,926 Sq. Ft.
Garage: Yes- 5 spaces
Stories: 2
Taxes (2011): $42,020
"Rebuilt in 04, this custom home rests on nearly 5 private acres in a premiere close-in location. Incredible details, comfortable & inviting spaces & sophisticated technology. Great entertaining inside & out with theatre, pool, hot tubs, & tennis court."

As of November 7, 2011, the price was reduced to $3,350,000.


How did it turn out this way? According to the Star Tribune:

"Curtis Nelson, who lives in the larger house, was once in line to become CEO of Minnetonka-based Carlson Cos., the hospitality, travel and marketing conglomerate founded by his grandfather Curt Carlson. But a falling-out with other family members ended that succession plan, and Nelson left the company.

His troubles escalated recently with a $3.8 million judgment in a fraud case brought by Crown Bank.

According to divorce records, both homes were highly leveraged, with loan proceeds used to finance projects including a $10 million remodeling of the larger home.

The remodeling project included $5 million in landscaping and accommodations for a horse-riding daughter to have her own shower, entrance and laundry room to buffer her from the rest of her horse-allergic family."

Star Tribune sources:
www.startribune.com/business/118883819.html
www.startribune.com/local/west/117584823.html

After being rented for several years, it was secured by homebuilder JMS which proposed a subdivision into several home sites.