Land conservation transactions have been the most active component of the conservation movement in the United States for the past three decades. Practitioners use traditional real estate tools to preserve habitat, scenery, and historically significant places. The prospect of climate change diminishes the value of most real estate tools currently used by proponents of land conservation transactions. This Article outlines one potential response to the challenge of private land conservation under climate change: a reinvigorated use of real estate options to purchase conservation easements (OPCEs).