Celebrated Thoroughbred breeding farm Adena Springs is on the market and accepting offers. Listing agency Icon Global will accept sealed offer bids or conventional contract offers on the 2,300-acre Central Kentucky horse farm between March 28 and May 15.

Bids for the entire property as well as subdivided parcels will be accepted, though the seller reserves the right to finalize a sale before the stated bid closure date.

One-of-a-kind equestrian property

Home to legendary racing champions Ghostzapper, Mucho Macho Man, Awesome Again, and others, Adena Springs has been on the market for $55 million ($23,900 an acre) since June 2022, following a brief canceled listing in 2017.

The property includes 20 barns and more than 250 horse stalls, multiple executive homes, a 24-unit employee residential village, 20 miles of paved roads, and more than 80 miles of horse fencing, according to Bloodhorse.

While the property is valued at more than $50 million, “replacement costs today to replicate this farm and its amenities, in my opinion, would far exceed $100 million,” Icon Global’s Bernard Uechtritz said in a statement.

Looking for the next steward

Interest in the storied property has been high among those in the horseracing industry, according to Icon Global.

“We have canvassed the spectrum of equestrian industry disciplines since announcing the intent to sell, and as a result we are engaged in various discussions with prospects regarding new ownership,” Uechtritz said. “However, my mandate is to first explore and exhaust all interest and opportunities from global racing entities and identities in selecting the next steward.”

Designed from the ground up and established in 2007 by Frank Stornach, Adena Springs was created to be one of the world’s premier Thoroughbred stallion breeding operations.

Its facilities, however, are flexible enough to accommodate a range of horse operations and breeds, according to its brokers. The property also has potential as a horse park or event center.

According to Icon Global, during this open bid period, buyers can express their interest on a single sale opportunity or choose from any combination of one or more subdivided parcels together with various barns, pastures, amenities, and improvements.