P
rospect Historic Hotel, a 5.6‑acre landmark at 391 Mill Creek Drive in Prospect, will go to auction Monday on the steps of the Jackson County Courthouse at 1 p.m. The sale, held at 100 S. Oakdale in Medford, includes the original Victorian‑era house, a former stagecoach stop and roadhouse that once served travelers heading to Crater Lake National Park. Over the years the property grew into a resort for food lovers, outdoor enthusiasts, and event hosts, offering hiking, birdwatching, car rallies, and artist workshops.
The hotel was last sold in October 2024 for $2.8 million to Prospect Collective LLC. Less than a year later, in July, the property closed and lender ThorMar LLC foreclosed because the owners failed to make payments. Eli Braden and his wife Brianna Braden, who identified themselves as owners of Prospect Collective and the hotel, said they had run out of funds. In August, the hotel’s former accountant and business partner, Andrea Annette Riegelman, was indicted on first‑degree aggravated theft and forgery charges; she pleaded not guilty to allegations that she stole at least $10,000 by writing a fraudulent check in March.
ThorMar will auction the property with a minimum bid of about $1.7 million, which covers the loan principal, interest, taxes, advances, trustee’s fees, attorney fees, and court costs. Randy Thornton of ThorMar stated that the lender will not accept less than the minimum bid and that they are not interested in running the hotel, but will do what they can until a buyer is found. If the auction fails, ThorMar and partner Rob Marken plan to reopen the hotel on Tuesday and “move forward.”
Prospective buyers may contact ThorMar’s attorney, Alison Hohengarten of Hohengarten Law, at 541‑647‑7437. Prospect Collective LLC had also signed a $1.4 million loan with longtime owners Fred and Karen Wickman. The foreclosure eliminates the unpaid debt that was due this month. Fred Wickman wrote that the hotel needs to be revived for the town and its employees, and that he and Karen are willing to consult with new owners to preserve the legacy they built over two decades.
The Wickmans’ turnkey operation, located 21 miles southwest of Crater Lake, was listed for sale in June 2024 at $3 million. The three‑story, 5,492‑sq‑ft main house houses a 10‑room bed‑and‑breakfast and a 50‑seat dinner house, surrounded by park‑like grounds with evergreen and deciduous trees, including a giant sequoia. The property also contains 14 motel rooms and a 2,700‑sq‑ft log house with a wrap‑around deck built on a separate tax lot in 1990. The log house, with a detached garage, is marketed as a potential vacation or long‑term rental, manager’s residence, or employee housing. The land holds grandfathered water rights and is adjacent to Mill Creek, which feeds Mill Creek Falls and the Rogue River. Other outbuildings include a large lighted gazebo with barbecue pits and a barn near a fenced corral.
In January, Riegelman, speaking for the partnership, told The Oregonian/OregonLive that the new owners would continue longstanding traditions and introduce themed experiences. The landscaped property has hosted weddings and other special events; the new owners plan to build on programs such as Music in the Mountains concerts and create new community gatherings. While the partners bring hospitality, marketing, and culinary experience, they have not managed a hotel before.
The Prospect Hotel’s history dates back to before Crater Lake became a national park in 1902. Visitors once stopped at a Victorian‑era house in remote Prospect that had been converted into lodging and a dining establishment on their way to the nation’s deepest lake. The original house was built in 1888‑89 by Albion Boothby, a sawyer, and his wife Jennie, who expanded and opened their home to paying guests. From 1912 to 1978, the Grieve family—Jim and Mary, then their son and grandson—elevated the hotel into an internationally known attraction. In 1988‑89, owners Pete and Carol Record restored the building from the ground up. The 2024 real‑estate listing describes the hotel as having evolved from a rough‑hewn timber structure to an elegant, yet comfortable bed‑and‑breakfast that has served travelers for over 130 years.
Rooms are named after notable figures such as President Teddy Roosevelt, who established five national parks including Crater Lake; writers Jack London and Zane Grey; orator William Jennings Bryan; and environmental advocate John Muir. For 20 years until its 2024 sale, the property was owned by Fred and Karen Wickman. Their commercial kitchen produced signature dishes like prime rib, lemon‑dill roasted salmon, and a 19‑layer, five‑cheese lasagna featuring cheeses from the award‑winning Rogue Creamery. Wild mushrooms, hand‑picked blackberries, huckleberries, and elderberries were served seasonally. The dinner house also hosted murder mystery dinners and wine‑tasting events.
The A. H. Boothby House and associated buildings represent life from a century ago and have been restored to Historic Registration standards, according to Wickman. The property is listed on the National Register of Historic Places. “All repairs and maintenance were done to Historic Registration standards,” Wickman said. “Drive an hour out of Medford on Oregon Highway 62, and step back in time 100 years.”
