Bannon Island sits in the spring-fed waters of Lake Marion, in Polk County, Central Florida. It can be reached only by boat, seaplane or helicopter. Its center rises 25 feet above the lake, about 20 of its acres lie above the 100-year flood line, and five acres are planted with orange groves.
The same family has owned it since 1881, when Patrick Bannon secured the island from Creek Seminole Chief Chipco and built a homestead. In 2026 it was recognized as a Florida Century Pioneer Family Farm. It is now listed on JamesEdition through Red Bird Realty at a listing price of $12 million.
Dr. Patrick O'LearyRetired physician and grandson of Patrick Bannon“Every generation has left an indelible mark on this island without erasing what came before. Our decision to sell is bittersweet, but we have confidence that the future owner of Bannon Island will chart their own legacy and enjoy as much love and safe harbor on this magical land as our family has known.”
How JamesEdition Brings a Legacy Island to a Global Audience
Bannon Island is listed on JamesEdition by Red Bird Realty, the Florida and Georgia agency representing the sale.
A property like this needs a particular buyer. “To do this complex justice, it will require substantial upkeep,” Dr. O’Leary says. “A broad array of potential buyers is required.”
Lisa Kleine, Realtor at Red Bird Realty, puts the case for its rarity: “Stunning waterfront estates are widely available across Florida, but very few places offer complete privacy, ecological rarity, and an authentic connection to Old Florida’s pioneering past. This is a rare opportunity to own a private island that can neither be manufactured nor recreated.”
Five Generations of Stewardship
For Dr. O’Leary, the island reflects “a kinder and gentler time when families grew up in one location and established relationships within that community.” Families are far more mobile today, he notes, and dynasties like this one have become nearly non-existent.
“I am proud that our family has been able to maintain a reasonably modern lifestyle while preserving many aspects of the older Florida,” he says. A substantial part of the island has been kept as wild land, where many creatures that once populated the state in large numbers still live in their natural habitat.
Bald eagles, limpkins, anhingas and great blue herons share the island with bobcats, river otters, alligators and white-tailed deer, which are known to swim between the mainland and the island. Lake Marion itself, a 3,021-acre lake, is one of Florida’s best-known bass fisheries.
The Groves
Farming shaped the island from the start. After a hard freeze destroyed Patrick Bannon’s first crop of string beans in 1886, the family turned to citrus. Early on, the fruit went by wagon to the lake’s edge and crossed to the mainland on wooden barges.
The surrounding water buffered the groves from the freezes that hit mainland orchards, and for generations they produced Valencia oranges and Duncan grapefruit. Three irrigation wells still serve them.
Like growers across Florida, the family has faced citrus greening over the past decade. Mature guava trees now give canopy to resident and migratory birds, and avocado, peach and pineapple plantings carry on the island’s seasonal harvests.
The Pioneer House, Restored
Patrick Bannon was a carpenter by trade. Around 1900 he completed an octagonal home built largely from the island’s own timber and laid out in the form of a Celtic cross, with an eight-sided roof rising to a central cupola. The house survived a direct hit from Hurricane Charley in 2004.
The restoration began in the 1990s, led by James Patrick O’Leary II, with renderings for the principal addition by the late Southern Living architect William H. Phillips.
Dr. O’Leary singles out the restoration of the original house. Its woodwork, made with hand tools over some 20 to 30 years, was brought back to its original condition through the efforts of his son. “The attention to detail that is evident in this reconstruction is remarkable and brings a smile to my face every time I enter the building,” he says. “This building is a treasure trove.”
A Historic Island Home Restored and Reimagined by Its Owners
The heart of the main residence is a soaring octagonal great room with walls of glass, finished in reclaimed cypress harvested on the island and dating back to the 1800s.
The centerpiece of the contemporary addition is the L’Orangerie, a glass-walled kitchen and dining pavilion that serves as the social heart of the island. It echoes the historic home, including its cupola parapet roofline, and opens to the landscape through seven exterior doorways.
Overhead hangs an 89-inch blown-glass chandelier conceived by Patrick and Mabel (“Sam”) O’Leary and made by St. Petersburg-based Zen Glass Studio & Gallery.
Its 100 frosted and clear droplets hang from an aluminum wheel on stainless steel wire to suggest a thunderstorm. Air from concealed climate-control vents keeps the glass in constant, gentle motion.
Just off the L’Orangerie is a two-story library with a glass floor. The floor hangs from structural cables anchored to the roof trusses, so the upper level appears to float above the room.
The house also has a gourmet kitchen, an elevator and an owner’s suite. The restored historic wing keeps its cypress walls, a music room and guest accommodations. Expansive porches and tropical landscaping open the house to the water on every side.
A separate 2,698-square-foot duplex and four accessory buildings complete the compound. Across the estate there are seven bedrooms and ten bathrooms.
Private Island Living Without Losing Touch with the World
The island is private, but not cut off. “Quiet and solitude are only a few pieces away from modern conveniences such as quality restaurants, athletic venues, and major airport terminals,” Dr. O’Leary says. Orlando and Tampa are both within reach.
How secluded the next owner chooses to be is up to them. “In certain environments seclusion is not a possibility,” he says. “In this environment, it is all a matter of choice.”
The Next Chapter
For its next owner, Bannon Island offers a rare kind of freedom. The main residence, the duplex and four accessory buildings make it suited to a private family compound, multigenerational living or hosting guests in complete privacy. About 20 acres lie above the 100-year flood line, the groves are still supported by three irrigation wells, and Orlando, Tampa and major airports remain within reach.
How the island is lived on is left to whoever comes next. “I do not believe that the island would be the limiting factor,” Dr. O’Leary says, “but would support almost anything that the owner could bring to this treasure.”
An 11.89-acre mainland parcel is available separately.
View the listing on JamesEdition
