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Last June, Marc and Emily Nemer bought a five-bedroom stone home for their growing family on Lake Minnetonka's Crystal Bay.

They spent four months knocking down walls and creating bright, open and airy spaces to maximize lake views — and fit their lifestyle.

One year later, the Orono residence is back on the market.

The couple is giving up their dream home because Marc recently accepted his dream job as the CEO of a Scottsdale, Ariz., company.

"We bought it with the vision of living there while our kids were growing up," said Marc, who moved his family with young children from Boulder, Colo., to Orono to be closer to Emily's family in Minnesota.

The Nemers chose the 9,765-square-foot home for its spaciousness, nearly an acre lot, its location, 100 feet of shoreline and panoramic vistas of Crystal Bay and the Arcola bridge.

They bought the home last June for $4 million, according to Hennepin County Property records. After the massive renovation, it's now on the market for $5.995 million.

"The exquisite stonework on the entire house feels like the kind of place you would see on Lake Como in Italy," said Marc. "We knew it had so much potential."

Although the house was built in 2002, the Old World iron railings encircling balconies and terraces and a charming carriage house give it a timeless quality.

However, the Nemers felt the interiors were dark and dated. The rooms boasted floor-to-ceiling windows, but spaces were closed off and compartmentalized, blocking light and views. They planned a main-floor makeover to achieve the "newness and freshness of something you would build today," he said.

The extensive project involved removing walls, raising ceilings and painting dark mahogany millwork a crisp white. "We brought in antique reclaimed wood beams for accents in the ceilings," he said.

The remodeled kitchen's island is 10 feet long and covered with a slab of Taj Mahal granite. Top-of-the-line appliances include a SubZero refrigerator and an eight-burner Wolf range.

On the second floor, a barrel ceiling and light neutral color palette add elegance to the restyled owners' suite, with French doors opening to an elevated balcony facing the lake.

The walkout lower level holds a media room with surround sound, full kitchen and wine cellar big enough to store more than 1,000 bottles.

Along the driveway is the "carriage house," or rather a three-car garage underneath a 765-square-foot apartment with a bedroom, bathroom, living room and small kitchen.

"Leaving the home is bittersweet," said Nemer. "We made it exactly the way we wanted and loved the neighborhood."

John F. Adams, 612-720-4827 and John C. Adams, 612-269-9438, Coldwell Banker Burnet, have the listing.