A sprawling compound on 550 acres in Santa Claus, IN, is priced at $47.9 million, making it the state’s priciest property.

Set amidst an “entertainment complex,” the residence hit the market a year ago. But it failed to find a buyer and was pulled from the market earlier this year. It’s back now—with the same hefty price tag.

Known as Big Tree Farm, the spread boasts a total of 50,762 square feet across multiple buildings. The name is said to have come from a child pointing at a tree.

“It’s a really beautiful property, but what is really different about it is that it was created from a cornfield and is now a private entertainment complex,” says listing agent Kara Hinshaw, of Key Associates Signature Realty. “It took 30 years to create this masterpiece. The owner always wanted a place where he could hold benefit-type events as a philanthropist. It was also used as a private family compound for his family over the holidays.”

The home is situated between Lincoln Boyhood National Memorial Park and Holiday World & Splashin’ Safari theme park. Hinshaw insists there is nothing else quite like it.

“I mean, who is more important, Lincoln or Santa Claus?” she jokes.

And while it might be near major tourist attractions, the property itself is a true private playground.

The main residence is a log home that was built in 2003, and its striking living room is anchored by a floor-to-ceiling, standalone fireplace.

‘One amazing property’

“It’s pretty special,” Hinshaw says. “When you come into the property, there is a huge lake and barn. There is a diner to entertain guests and from there, you can open the garage doors and enter the barn.”

There is also a full bar, dance floor, entertainment room, covered outdoor patio overlooking a huge pool, and a bridge that leads to a gazebo on the property’s lake. A shooting range, fire pit with built-in stone seating, and guest accommodations round out the listing.

Because of the area’s tourist activity, the compound even has potential as an investment opportunity.

“The property could be used for an elite wedding business, or a museum, or you could do something to enhance tourism in the area with a bit of a different offering, or even open the diner up to the public,” Hinshaw notes. “A wellness center might be interested in it as well. There are tons of possibilities. It all just depends on what someone is looking for.”

While the home is being sold with all 550 acres intact, the lot could be subdivided and developed if the next buyer chooses that route.

“The seller is hoping to pass along the property to the next buyer, with the hope of keeping it as a legacy property,” Hinshaw says. “It’s one amazing property, and we are proud of it. You really have to see it to believe it.”

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