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El Dorado Estates, Inc. was incorporated in January 1955, with Washington, D.C. real estate developer Leon Ackerman as its only shareholder. In October 1955, the company's name was changed to Indian Lake Estates, Inc. and it purchased a large tract of undeveloped land on the shores of Lake Walk-in-Water, about 19 miles southeast of Lake Wales. [3]
As of the census [2] of 2010, there were 6,220 people, 2,347 households, and 1,743 families residing in the CDP. The population density was 1,046.2 inhabitants per square mile (403.9/km 2).
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