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Over nearly five decades, T. Boone Pickens turned a ranch in the Texas Panhandle into a retreat with its own airport, art gallery, chapel and an 11,000-square-foot kennel for hunting dogs. Now 89, the energy tycoon is putting his Mesa Vista ranch on the market for $250 million.

Mesa Vista is among the highest priced ranches on the market in the country, according to Eric O’Keefe, editor of the Land Report. In 2014 the Waggoner Ranch in Texas was listed with an asking price of $725 million. It sold in 2016. Molokai Ranch in…