Since the 1970s, five generations of the Neslund family have swam in the pool, cruised in "Lucky Lady" and lounged on the veranda at the Lake Minnetonka estate on Lookout Point.

And all with 180-degree panoramic views of the crown jewel of Twin Cities recreational lakes.

Susan Ralls just graduated from high school when her parents, Mabeth and Richard Neslund, bought the more than two acres of prime land on Wayzata Bay in 1974. They tore down the early 1900s uninsulated Sumner McKnight summer place and built the four-bedroom and five-bathroom 5,842 square foot stone and brick home. It's now on the market for $11 million.

"My mother and dad built it for their children and their friends," she said. "It was a family home and everyone was welcome."

Eventually, Ralls' children and grandchildren and their extended family spent most of their summers there.

Ralls would swim laps in the morning and the kids would float with friends in the lakeside pool or go tubing during hot afternoons.

This $11 million estate juts out onto Lake Minnetonka.

There's also a sandy beach along the more than 300 feet of shoreline. "It's high up — but you don't have to be a billy goat to walk down to the lake," said Patti Jo Hermann, the Edina Realty agent who has the listing.

Since the property juts out on a point, which is right across from Spirit Island, they're able to see the sunrise and sunset from a curved veranda overlooking Lake Minnetonka.

"We could watch fireworks being shot off from Excelsior and Wayzata on the Fourth of July," said Ralls.

The big comfortable home includes a huge three-season glassed-walled porch, where meals were served in the summer, she said.

The interiors reflect decor from her parents' travels, such as hand-carved wood doors on the bar from a church in Mexico. They also salvaged vintage leaded glass windows from the Sumner McKnight dwelling for the front door.

Today, Neslund family members all live in different states and have decided to sell their resort-like getaway.

"It's been such a big piece of my life," said Ralls. "But it's time to move on."

Other features:

• His-and-hers separate bathrooms off the master bedroom.

• A variety of lakeside seating areas from poolside to a veranda.

• Lower level recreation room with a fireplace that walks out to the grounds.

• A two-bedroom, two-bathroom guesthouse with a kitchen and fireplace.

• It's a very private residence at the end of Harrington Road.

• A dock with four boat slips.

• Don't forget the property taxes: $86,978.

Patti Jo Hermann 612-386-8009, Edina Realty and Bob Carlson, 612-850-4001, Coldwell Banker Burnet, have the listing.