Heir to chewing gum fortune lists Florida ranch for $20 million

Ten years ago, William Wrigley Jr. asked $85 million and failed to sell the Ocala ranch, which is almost 1,000 acres

Winter Haven Farm in Ocala
Winter Haven Farm in Ocala

An heir to the Wrigley’s chewing gum fortune listed his ranch in Central Florida for sale for $20 million.

The ranch in Ocala, called Winter Haven Farm, spans nearly 1,000 acres and comes with three houses, four barns and 52 stalls, plus storage structures and a grass-covered racetrack.

William Wrigley Jr.  paid $24 million to acquire most of the property in 2005, then enlarged it by purchasing several additional pieces of land.

Gary Pohrer, an agent of real estate brokerage firm Douglas Elliman, shares the listing for Wrigley’s ranch in Ocala with Joan Pletcher, a local agent.

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Pohrer told the Wall Street Journal that Wrigley has reset his expectations for selling the ranch after failing to sell it 10 years ago with an asking price of $85 million.

Pohrer also told the newspaper that Wrigley decided to sell Winter Haven Farm after shelving plans to turn it into one of the finest equestrian facilities in Ocala.

The current $20 million asking price is more comparable to pricing for similar properties in Ocala, including a 768-acre equestrian farm called Padua Stables, which is listed for sale with a $17.9 million asking price.

Wrigley left his position as chairman of Wm. Wrigley Jr. Co. in 2010. He is a former CEO of the company, a position he took after his father died in 1999. Wrigley is now CEO of a family investment office in Chicago called Wrigley Management. [Wall Street Journal] Mike Seemuth