The property, northwest of Rapid City, includes the Dunbar Resort, a failed $100 million project that was to include a championship golf course and steam engine train.
Costner's list agent said the decision to sell the property has been a difficult one for the actor.
“From what I understand, it has been a hard decision for Mr. Costner and his people and not one they took lightly,” said Mike Percevich, co-owner and broker with the Real Estate Center of Lead-Deadwood. “It’s been a long process. We’ve been discussing the listing for six months to a year.”
Costner will hold onto Midnight Star, the tallest building on Deadwood's main street, and Tatanka: Story of Bison, a $6 million attraction on the north edge of town.
The property is being listed in three parcels: one 735-acre piece for $5.4 million, one 86-acre commercially zoned piece for $7.8 million, the proposed site of Dunbar, and a 160-acre piece for $1.2 million.
The Dunbar parcel in particular, has had significant improvements made to the property. Terrain has been leveled, storm drainage, water and sewer added, and four acres of parking developed.
“It’s a rare opportunity with a town like Deadwood that has been topographically locked for so many years,” Percevich said. “Then we have Costner and his people who invested so much to acquire and improve that ground.
"The city has a growth path that’s headed this way and we’ve got a commercial site that’s gaming approved, has excellent infrastructure and a view that’s breath-taking," he said.