A $20 Million Waterfront Masterpiece: The Late Colts Owner's Culver Estate Now on Market

Overview

A sprawling lakefront property in Culver, Indiana, once home to Jim Irsay, the billionaire who led the Indianapolis Colts to unprecedented success, is now seeking buyers at a remarkable $20 million asking price. Located 115 miles north of Indianapolis on the shores of Lake Maxinkuckee, this estate could shatter Indiana’s previous sales record if it finds its buyer.

The Main Residence and Guest Accommodations

The primary structure spans 13,956 square feet across eight bedrooms and 12 bathrooms, positioned on a substantial 5.6-acre waterfront parcel. The property includes a separate guest house featuring three bedrooms and three bathrooms, with an eight-car garage completing the residential infrastructure. Combined, all structures total approximately 35,000 finished square feet, making it a comprehensive compound rather than a single dwelling.

Premium Amenities and Recreational Facilities

The estate’s aquatic offerings stand out prominently, featuring an indoor pool facility with climate control capabilities, heated paver decking, integrated hot tub, steam room, and a retractable glass wall system that opens toward the lake. The property’s entertainment complex functions as a self-contained leisure hub, equipped with a professional-grade four-lane bowling alley, arcade gaming area, shooting range, and a full-service bar designed in club style. An underground tunnel connects this entertainment zone directly to the main residence, enabling seamless access without venturing outside.

Waterfront Features and Outdoor Amenities

The estate commands 4,000 square feet of private dock space—the largest single-owner dock on Lake Maxinkuckee—capable of accommodating multiple boats and watercraft. The surrounding grounds incorporate a fire pit area, sand volleyball court, multiple expansive patios, and a formal dining terrace overlooking the water. These outdoor spaces complement the lakefront setting and provide extensive entertaining capacity.

Market Context and Historical Benchmark

The current Indiana real estate sales record stands at $14.5 million, established by a 41,762-square-foot mansion spanning 168 acres and featuring a private 35-acre lake. That property, inspired by Italian Renaissance architecture and Thomas Jefferson’s Monticello, was owned by late entrepreneur Christel DeHaan. The Irsay estate’s $20 million asking price positions it to surpass this long-standing state benchmark, should it sell at or near the listing price.

About the Previous Owner

James Irsay, who passed away at age 65 with an estimated net worth of $4.8 billion, inherited the Indianapolis Colts as its sole owner in 1997. The team’s trajectory under his leadership proved transformative—culminating in a 2007 Super Bowl championship and 10 divisional titles. His father Robert originally purchased the franchise in 1972. Today, the Colts organization remains in family hands, now overseen by Irsay’s three daughters: Carlie Irsay-Gordon, Casey Foyt, and Kalen Jackson.

Current Franchise Valuation

According to Forbes’ 2025 rankings, the Indianapolis Colts hold the 26th position among NFL teams by valuation, generating $593 million in annual revenue—a 23% increase year-over-year. This financial strength reflects the organization’s enduring market value and competitive positioning within professional football’s economic landscape.