Ochoco Ranch in Prineville, Central Oregon, is back on the market for $54 million, cementing its status as the state's most expensive property. The 35,000-acre estate borders the Ochoco National Forest and Redmond Airport, a location that listing agent Jake Polvi of Polvi Real Estate described as a "great legacy property" for buyers seeking both recreation and income. The price drop follows an initial 2022 listing at $65 million, which failed to find a buyer before the property returned to the market earlier this year after an $11 million reduction.
The centerpiece is a three-storey lodge built in 2015, perched on a butte with views of the Cascade Mountains. The structure features nine bedrooms, eight fireplaces, and a wine cellar, but its defining trait is self-sufficiency. It runs on renewable energy and sources water directly from the property, a critical feature for remote high-country living. Mason & Morse Ranch Co, which co-listed the property, emphasized that the land is a "blank canvas" in its raw natural form, positioned for "future value enhancement" near a rapidly growing area.
This is not a quiet weekend retreat. The ranch operates as a working timberland, generating income from sustainable logging sales and carbon offsets. The ecosystem is dense with ponderosa pine, white fir, and Douglas fir, supporting elk, mule deer, and antelope. Miles of spring-fed creeks stocked with rainbow and brook trout make the property a prime spot for hunting and fishing.
The estate supports substantial auxiliary infrastructure beyond the main lodge. Two additional wood-frame lodges—one off-grid and one connected to the electricity grid—sit on the land. A 3,000-square-foot foreman's home, a 2,800-square-foot house near a natural warm spring, workshops, a six-stall horse barn, and a fire watch tower round out the property. The listing highlights a well-developed road system of raised, bladed gravel roads, a feature Polvi noted cannot be found on comparable properties.
The next step for this high-stakes transaction is finding a buyer willing to commit to the $54 million price tag. With the property having sat on the market since 2022, the recent price cut signals a potential shift in the ultra-luxury rural market. Prospective buyers must navigate the logistics of a working timber operation while securing a piece of Oregon’s most exclusive real estate inventory.