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Bank trying to sell former home of Premier Properties founder

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A Lake Clearwater mansion formerly owned by Premier Properties USA Inc. founder Christopher P. White is up for sale with an asking price of $1.48 million.

White was sentenced in November 2009 to one year of home detention and three years of probation in connection with a $500,000 bad check he wrote as he unsuccessfully tried to save his real estate development company.

The 1987 home sits on 1.2 acres and features four bedrooms and seven bathrooms, vaulted ceilings, a custom kitchen, entertainment room with wet bar, dock on Lake Clearwater, and a large patio with an in-ground pool and gazebo.

Chris White's former Lake Clearwater home Chris White's former Lake Clearwater home is for sale with a $1.48M asking price. (Submitted photo)

The home's main floor is about 5,800 square feet, and a partially completed second floor adds another 5,100 square feet, the listing notes. The home is being sold as-is.

J.P. Morgan Chase, which owns the property, has listed it with Chris Price of Keller Williams Realty.

Premier, which developed dozens of projects, including Plainfield's Metropolis mall, imploded at the peak of the credit crunch two years ago, leaving its high-flying founder with little to show for years of successful development.

White took on daring projects with little margin for error, often in unproven retail markets like Plainfield. He also developed ambitious projects in Ohio, Pennsylvania and Nevada. But when credit markets tightened, his luck ran out.

Premier filed for Chapter 11 bankruptcy in April 2008. A month later, a judge converted the case to Chapter 7 and ordered the company liquidated.

Many of White’s belongings, which had been put up as collateral for loans gone bad, also were liquidated, at an auction in August 2008. More than 1,000 people bid on the developer’s belongings, including several Vespa scooters, flat-panel TVs, a 22-foot pontoon boat and a baby grand piano.

Price, the real estate agent on the Lake Clearwater mansion, said the property was vacant when he got the listing in June. He said he did not know where White lives now.

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  1. Why not take some time to do some research before traveling to that Indiana town or city, and find the ones that are no smoking either inside, or have a patio? People like yourself are just being selfish, and unnecessarily trying to take away all indoor venues that smokers can enjoy themselves at. Last time I checked, it is still a free country, and businesses do respond to market pressure and will ban smoking, if there's enough demand by customers for it(i.e. Linebacker Lounge in South Bend, and Rack and Helen's in New Haven, IN, outside of Fort Wayne). Indiana law already unnecessarily forced restaurants with a bar area to be no smoking, so why not support those restaurants that were forced to ban smoking against their will? Also, I'm always surprised at the number of bars that chose to ban smoking on their own, in non-ban parts of Indiana I'll sometimes travel into. Whiting, IN(just southeast of Chicago) has at least a few bars that went no smoking on their own accord, and despite no selfish government ban forcing those bars to make that move against their will! I'd much rather have a balance of both smoking and non-smoking bars, rather than a complete bar smoking ban that'll only force more bars to close their doors. And besides IMO, there are much worser things to worry about, than cigarette smoke inside a bar. If you feel a bar is too smoky, then simply walk out and take your business to a different bar!

  2. As other states are realizing the harm in jailing offenders of marijuana...Indiana steps backwards into the script of Reefer Madness. Well...you guys voted for your Gov...up to you to vote him out. Signed, Citizen of Florida...the next state to have medical marijuana.

  3. It's empowering for this niche community to know that they have an advocate on their side in case things go awry. http://www.youtube.com/watch?v=Lrst9VXVKfE

  4. Apparently the settlement over Angie's List "bundling" charges hasn't stopped the practice! My membership is up for renewal, and I'm on my third email trying to get a "basic" membership rather than the "bundled" version they're trying to charge me for. Frustrating!!

  5. Well....as a vendor to both of these builders I guess I have the right to comment. Davis closed his doors with integrity.He paid me every penny he owed me. Estridge,STILL owes me thousands and thousands of dollars. The last few years of my life have been spent working 2 jobs, paying off the suppliers I used to work on Estridge jobs and just struggling to survive. Shame on you Paul...and shame on you IBJ! Maybe you should have contacted the hundreds of vendors that Paul stiffed. I'm sure your "rises from the ashes" spin on reporting would have contained true stories of real people who have struggled to find work and pay of their debts (something that Paul didn't even attempt to do).

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