Price Dropped For Former Commune
Jul. 24, 1986
PORTLAND, Ore. (AP) _ A real estate company is offering the former Rajneeshpuram commune for sale for $28.5 million cash, down from the $44 million that had been asked for the 64,229-acre ranch.
The Rajneesh Investment Corp. put the central Oregon ranch and its 295 buildings up for sale last winter after it was announced the commune was closing.
Joe DeJager, vice president of Cushman and Wakefield Inc. of Portland, a New York-based realty company, said Wednesday the former Big Muddy Ranch was listed with his office about a month ago. The Rajneeshee corporation had been trying to sell the property on its own.
DeJager said $28.5 million was the price agreed upon by his company and Rajneesh corporate officers.
Rajneeshees bought the ranch in 1981 for $5.75 million. Indian guru Bhagwan Shree Rajneesh and his followers occupied it until Rajneesh left the United States last November after he pleaded guilty to immigration fraud charges.