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M Oregon Ranch With 40,000 Acres Is the Week’s Most Expensive New Listing

In need of some space? The historic Kinzua Ranch in Fossil, OR, just landed on the market for $30 million, making the 40,000-acre spread the week’s most expensive new listing on realtor.com®.

Vast and varied, the landscape features a ponderosa pine forest and extensive grazing lands. The abundant wildlife includes elk, deer, bear, quail, and wild turkey. Water sources on the vast tract include reservoirs, creeks, streams, and ponds.

The history of the picturesque property dates to the 1800s, when “the whole area was a fur-trading zone,” says listing agent Jacob Polvi. “The settlers moved in, and it became a logging area.”  

In 1909, E.D. Wetmore came to the area and bought up tracts of land, naming them Kinzua, after a river in his home state of Pennsylvania.

In 1928, Kinzua became the site of the Kinzua Pine Mills Co., and the hub of Wetmore’s lumber business. A brisk industry led to a housing need for the growing number of workers. The “company town” grew to 125 homes, and added a post office, library, grocery, and nearby golf club (which still exists).

At the height of activity, the town housed 700 people. Eventually, the company changed hands, and the company town, one of Oregon’s last, shut down. 

“The old mill site was on the ranch. It’s all been demolished,” Polvi says. In the place of the ghost town, 400,000 ponderosa pines were planted in 1982.

The site has since changed hands a few times, Polvi notes. The current owner is a “big cattle rancher” who purchased the place as an investment, and runs some 700 cows and ​30 bulls on the land.

The land is rich with opportunity, for both timber and cattle, and “it’s probably one of the best spots for hunting in Oregon,” says Polvi. 

This swath of eastern Oregon is also a recreational paradise. Winter sports include snowmobiling and cross-country skiing. Warmer weather allows for horseback riding, four-wheeling, bike riding, and hiking. 

And the acreage isn’t all trees and woods. It includes a hunting cabin, corrals, a couple of old trapper cabins, and cowboy camps. Plus, there’s a fire lookout tower, which could make a heck of a guest cabin with glorious views. The property also boasts perimeter and interior fencing and gates, with multiple entrances to the ranch. 

Although set apart and secluded, the location is accessed by State Highway 19, and is just down the road from the town of Fossil. The getaway is just 1.5 hours from Bend, OR.

For someone who desires a family compound, there’s plenty of room to build a home or 10. 

As investment income, the land could continue to be offered for cattle grazing. While the actual cows don’t come with the purchase, all the facilities for the cattle are included, Polvi notes. And, the scenic site has already been a filming location. 

“For a real high net worth individual, it’s the ideal property,” Polvi says. He envisions “someone who wants to own their own recreational retreat and make it better.”

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