A lakeside estate that went up for sale Monday for $6.8 million is the most expensive property ever listed in Rangeley.
The property known as Black Bear Lodge sits on 26 acres on Rangeley Lake, offering 10 bedrooms and eight bathrooms across three buildings. While there are more than 20 properties in Maine going for at least $5 million right now, this Rangeley home is the only one of them not located in one of Maine’s coastal counties.
If it sold for its listing price, it would be the most expensive home sold in Rangeley in the last 20 years, according to a Bangor Daily News review of state tax records. The most expensive home to sell in the area during that period was less than half the asking price.
While the number is eye-popping, it’s not a total surprise in Rangeley, which is famous for the year-round outdoor recreation opportunities afforded by its six large lakes and proximity to Maine’s western mountains. It has become a housing hotspot, with home values increasing 80 percent there from the beginning of the pandemic to the end of 2024, according to Zillow.
There are plenty of multimillion-dollar listings in the area comparable to this lodge, but they don’t change hands often, said listing agent Jamieson Duston, principal of Duston Leddy Real Estate. That makes this property special, especially given its fine craftsmanship and acreage.
“Anything above five acres on any lake in New England is relatively rare,” Duston said. “Between the condition of the property, the location, the views, the acreage … it represents something extraordinarily rare, and for a buyer to come in and pick it up for significantly less than it would cost to replace, I think it is pretty attractive to most people at this [price] level.”
The current owner commissioned this lodge to be built in 2005 and has only used it as a residence for himself, extended family and friends, Duston said. He is selling it because he doesn’t use the place as much as he’d like to, the agent said.
Duston expects to receive inquiries over the potential of turning the place into a short-term rental business or venue. He also expects plenty of interest from out-of-state buyers because of the small municipal airport. Already, Duston has gotten a call from a New Yorker who wants a ready-made family compound.
Credit: LaBrie Media
The property’s appeal is apparent. It offers 9,500 square feet of living space across a main home, guest house and cottage, and a two-story barn offering ample space for snowmobile storage.
The main house sleeps 14, features fine Douglas Fir woodwork and has a wraparound porch, hot tub, home theater and wood-burning fireplace. The cottage has vaulted ceilings, gardens and a billiards room, and the guest house also sleeps 14 and has a 6-vehicle garage.
Other features include a 1,500 square foot outdoor patio with a wood-burning fireplace, firepit and pizza oven that the current owner used to entertain guests, including Duston, who said he’s friendly with the owner and has sold multiple properties for him over the years.
“He and I’ve had multiple discussions about him selling this, and I think I’m more disappointed than anybody,” Duston joked. “It’s a special property, and it’s best utilized to its full potential. Hopefully it goes to someone who fully appreciates just how special it is.”