Storied East Texas gangster hideout has a new owner
AP

Storied East Texas gangster hideout has a new owner

{{featured_button_text}}
The more than 1,300-acre spread near Athens fetched more than $11 million.

The more than 1,300-acre spread near Athens fetched more than $11 million.(Icon Global Group)

An East Texas ranch that was a hideout for gangsters and a Las Vegas gambling boss has sold.

Called Fincastle, the 1,369-acre spread near Athens is just an hour and a half away from Dallas.

The property, which has three lakes and acres of woods, was used starting 50 years ago by Dallas mobster Ivy Miller, according to stories told by the owners over the years.

Miller and his friend, Las Vegas casino operator Benny Binion, used the Henderson County property as hangout and hideaway.

"Ivy built the big house as a place for gambling," according to property broker Icon Global, which listed the property for sale at $11.95 million. "The present owners have concentrated on creating a private retreat and wildlife sanctuary."

The property has been owned by Dallas' Schoellkopf family since 1968.

It sold to an undisclosed Texas investor who plans to keep the storied real estate.

"We couldn't be happier with the sale," said Alan Schoellkopf. "The buyer is an adjacent property owner that we know from the Dallas area."

Schoellkopf said the property always had mystique.

"We heard ghost stories, tales of gangsters and gambling halls," he said. "It had a lot of color and history."

"We had multiple offers, and it sold for more than list price," said Bernard Uechtritz, founder of the independent, Dallas-based Icon Global Group. ""Fincastle was one of those fun, unique, one-of-a-kind properties that I specialize in and love to market and sell.

"Its legend and history made for great reading, and our marketing made the headlines across Texas and the nation and from New York to London and across Europe."

The estate near Athens is just one of several large Texas rural properties Icon Global is currently marketing.

Visit The Dallas Morning News at www.dallasnews.com

You must be logged in to react.
Click any reaction to login.
0
0
0
0
0

Be the first to know

* I understand and agree that registration on or use of this site constitutes agreement to its user agreement and privacy policy.

Related to this story

Most Popular

Since its development of the Model T in 1908, Ford Motor Co. has been synonymous with building affordable, entry-level vehicles for the working class. By 1924 the price of a Model T Runabout had fallen to just $260 - the equivalent of about $3,900 in today's dollars. Fast-forward to 2020, and Ford does not offer a single vehicle for less than $20,000 when delivery fees are included. And Ford ...

Get up-to-the-minute news sent straight to your device.

Topics

News Alert

Breaking News