Biggest lake in Texas southeast of Dallas is for sale for $110M and change
There's a private lake for sale that's being billed as the largest private lake in Texas: Fairfield Lake, a 2,400-acre body of water located in Freestone County that's one of the most unique rural land assets in the country.
Centrally located between Dallas, Houston, and Austin, and just east of I-45, the lake is surrounded by 21+ miles of undeveloped and elevated shoreline, with opportunities for entertainment, residential, commercial, or investment development.
According to a release, asking price is $110,550,000.
Property features include:
- Recreational lake, estimated to be 50 feet at its deepest point, good for fishing, water skiing, boating activities, and swimming
- Mature hardwood forest with array of wildlife including whitetail deer, armadillos, river otters, beavers, squirrels, foxes, bobcats, songbirds and bald eagles
- Pristine lake water with a thriving trophy bass population as well as catfish, bluegill and sunfish
- 10 acres of wetland ecosystems
- 8+ miles of highway grade blacktop two lane roads and bridges
- Three concrete boat ramps with truck and trailer parking
- Combination of underground and above-ground power throughout the property
- Massive 4,350-foot earth-fill dam with Low Hazard classification from the Texas Commission on Environmental Quality
The property is being marketed by Hortenstine Ranch Company, which focuses on rural, recreational, farm and ranch property sales in Texas and Oklahoma.
Blake Hortenstine, Broker/Partner of Hortenstine Ranch Company, says in a statement that "a water asset of this magnitude is virtually impossible to find anywhere in the lower 48 states, and combined with the land development possibilities and amenities, is the only offering of its kind."
Fairfield Lake is located in the town of Fairfield, a rural ranch community of nearly 2,900 people, that's approximately 90 miles southeast of Dallas and a three-hour drive from both Houston and Austin — basically as centrally located as you can get, in one of the most coveted areas of Texas.
According to the Texas Water Development Board website, the lake was originally built in 1968-1969 by Texas Power and Light Company (now TXU) to create a dam for industrial (thermal-electric power generation) purposes.
It comes with a state park, called appropriately Fairfield Lake State Park, that sits on its shore. Some reviews of the lake are amusing disappointed by the fact that the property is too unspoiled. ("It is undeveloped except for the Texas Utilities Power Plant and Fairfield Lake State Park — so there isn’t a lot to see or do.")
The state currently leases the land so the new owner can decide whether or not they want to maintain the lease.
That $110,550,000 asking price — it seems like they've added that extra $550,000 as kind of an obvious negotiating thing. Surely they'd let it go for $110,000,000?