Waterfront Living - Cherokee Lake
Real Estate Guide

Walnut Bend
Delivers 'more than your average neighborhood'

McKeough Land Co. liked Cherokee Lake so well, the waterfront developers are building their second community on its shores.

Turner’s Landing “sold out in 13 months,” says Scott Harestad, sales manager for McKeough’s Tennessee and Kentucky developments, who is touting its newest Cherokee development, Walnut Bend.

The gated community is surrounded on three sides by water and also borders a regional Boy Scout camp, ensuring privacy now and in the future.

One- to three-acre tracts are listed from $34,900 to $104,900, while waterfront parcels begin at $112,900 and go to $224,900.

Single-minded McKeough buys, develops, sells, stays for a minimum of two years in each of its developments, then moves on to other properties. The company does not build on the lots, instead being satisfied with “being really good at one thing,” says Harestad.

“Buying [waterfront and/or water-view] land correctly, then designing, developing and including amenities folks want is what we want to do.”

It has made a name for itself doing just that in the second-home/recreational market. It was founded in Grand Haven, Mich., in 1989 by Chicago native Michael McKeough, who grew up on the east side of Lake Michigan. His lifelong view of that side of the lake drew him to waterfront property in general but also propelled him to open his business on its west side.

After building in Michigan, the company branched out to develop along lakes in Tennessee, Kentucky and Wisconsin and oceanfront in South Carolina and in the North Carolina outer banks. Future plans call for further McKeough development in Virginia (also beach-side) and Colorado.

“There are lots of opportunities all over the Southeast,” says Harestad, who has been working the Kentucky-Tennessee market since it opened in Knoxville three years ago.

“We have grown at a nice, steady pace,” he adds.

But quick enough to draw the attention of Inc. 500, which for four years running has named it among the country’s fastest-growing private companies. Sales grew at a whopping 330 percent over a three-year period, from $3.7 million in 2001 to $16.2 million in 2004.

“We are a small, unique group,” says Harestad. “And we don’t rush in, bringing in a big group for a land-rush sale. We might bring 20 or 30 people for a two-hour tour, then if we get commitments, we extend a seven-day rescission period in case they change their minds.”

Making sure appropriate amenities are in place is important.
“We want to include everything folks want – from a clubhouse to a marina, common areas or boat storage. Because if you don’t, it really isn’t much more than your average neighborhood.”

Walnut Bend lots are currently available. Call 584-0005 for more information.

Walnut Bend
Location: Hawkins County, 15 miles north of Morristown
Distance from Knoxville: 64 miles
Developer: McKeough Land Co. – selling land only
Builders: Various; must meet architectural review guidelines.
Number of lots: 54; 18 remain.
Lot sizes: 1-3 acres
Price range: $34,900 to $224,900
Amenities: Gated community with a private boat launch, community marina, underground utilities and paved roads
For more information: Call 865-584-0005.