Eagle Creek Ranch White Sulphur Springs, Montana

Home , Big Belt Mountains, Canyon Ferry Lake, Smith River (Montana)

EAGLE CREEK RANCH WHITE SULPHUR SPRINGS, MONTANA

$13,950,000 | 6,910± ACRES

LISTING AGENT: JOEL LEADBETTER

1227 NORTH 14TH AVENUE, SUITE 1 BOZEMAN, MONTANA 59715 P: 406.587.3090 M: 406.580.0146 [email protected] EAGLE CREEK RANCH WHITE SULPHUR SPRINGS, MONTANA

$13,950,000 | 6,910± ACRES

LISTING AGENT: JOEL LEADBETTER

1227 NORTH 14TH AVENUE, SUITE 1 BOZEMAN, MONTANA 59715 P: 406.587.3090 M: 406.580.0146 [email protected] Land… that’s where it all begins. Whether it is ranch land or family retreats, working cattle ranches, plantations, farms, estancias, timber or recreational ranches for sale, it all starts with the land.

Since 1946, Hall and Hall has specialized in serving the owners and prospective owners of quality rural real estate by providing mortgage loans, appraisals, land management, auction and brokerage services within a unique, integrated partnership structure.

Our business began by cultivating long-term relationships built upon personal service and expert counsel. We have continued to grow today by being client-focused and results-oriented—because while it all starts with the land, we know it ends with you.

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DENVER, COLORADO BOZEMAN, MONTANA EATON, COLORADO MISSOULA, MONTANA STEAMBOAT SPRINGS, COLORADO VALENTINE, NEBRASKA STERLING, COLORADO COLLEGE STATION, TEXAS SUN VALLEY, IDAHO LAREDO, TEXAS HUTCHINSON, KANSAS LUBBOCK, TEXAS BUFFALO, WYOMING MASON, TEXAS BILLINGS, MONTANA MELISSA, TEXAS SOUTHEASTERN US

SALES | AUCTIONS | FINANCE | APPRAISALS | MANAGEMENT

Located 33± miles northwest of White Sulphur Springs, immediately downstream of the headwaters of Eagle Creek and running along the western foothills of the Little Belt Mountains, the Eagle Creek Ranch is a 200-head mountain ranch in one of the most pristine and private settings one could imagine. Operating on approximately 14,650 deeded, BLM leased, and Forest Service allotment acres, the ranch historically was run as a cow/calf operation, but recently has been used primarily for summer grazing and the harvesting of native hay. The ranch is located in an area near the Smith River, Sheep Creek and Tenderfoot Creek drainages which are fortunate to receive plentiful moisture for growing grass and hay. The owner’s compound - consisting of a modest log home, horse barn, shop and corral - is located along Eagle Creek with open views towards the hay meadows and timbered ridges. In addition to the ranch’s cattle operation, the ranch has outstanding hunting for Northern Rockies big game species, most notably elk. The combination of abundant water, hearty stands of native grass and plenty of timber provides appealing habitat for all wildlife. It is currently being outfitted during the archery and rifle seasons. This offering is the perfect Montana mountain ranch with a summer grazing and hay operation, small stream fishing, wildlife, and plenty of privacy and seclusion.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 3 – LOCATION Eagle Creek Ranch lies 33 miles northwest of White Sulphur Springs and 113 miles north of Bozeman, with its Bozeman Yellowstone International Airport. Access from White Sulphur Springs is year-round on paved State Highway 360 for 15.5 miles, and then 17.5 miles on the Smith River Road to the ranch gate. This drive takes a little over two hours from Montana’s largest airport and 40 minutes from White Sulphur Springs and its paved and lighted 6,110 by 75 foot airstrip.

LOCALE

White Sulphur Springs lies close to the headwaters of the Smith River. It has historically been primarily a ranching community, but in recent years with the increasing popularity of hunting, fly fishing and river floating, it has become something of a recreational mecca. It is also a launching point for people embarking on the five-day float trip through the Smith River Canyon, which begins a short drive north of town. The area offers fly fishing and big game hunting and has begun to attract non-resident landowners as well as a growing interest from tourists passing through the area looking for the most scenic route between Yellowstone and Glacier National Parks.

There is a strong sense of community in White Sulphur Springs. The town and surrounding ranch owners support a variety of local enterprises, such as the local hospital, which is critical in a community of this size that is somewhat removed from major cities. The hospital is designated one of the “Top 100 Critical Access Hospitals” in the United States, offering a 24/7 emergency room, clinic, acute care as well as both MRI and X-ray services.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 4 – The Red Ants Pants Festival is a music festival held every summer in a cow pasture just outside of town. In the past, it has featured such notable musicians as Lyle Lovett, Taj Mahal, Merle Haggard, and Emmylou Harris. It is a fun-filled family-style gathering complete with food, camping and nonstop dancing. It draws people from all over the United States and other parts of the world. The proceeds go to support the Red Ants Pants Foundation, which fosters strength and reliance in women in rural agricultural communities.

Additionally, there are a Fun Run, PRCA Labor Day Rodeo, 4th of July parade and numerous other community events held in White Sulphur Springs annually.

Summer fishing and water sports are within 30-90 minutes on three different lakes and reservoirs, including the 26-mile-long Canyon Ferry Reservoir of the Missouri River. Cross- country skiing is easily accessible on and from the ranch. In the neighboring Little Belt Mountains, hundreds of miles of snowmobiling trails are available. Downhill skiing is available at the Showdown Ski Area http://showdownmontana.com/ about a 70-minutes-drive to the east. To the south, one can also access Bridger Bowl Ski Area https://bridgerbowl.com/ in about a 90-minute drive.

It is fair to say that White Sulphur Springs is generally considered to be an area of large ranches that tend to remain in stable hands over generations. A few have passed into non- resident hands, but they have tended to add to their original holdings and continue to be operated in a serious manner. One of the great benefits of the area is that it is off the beaten path, but is rapidly growing in popularity, as witnessed by many notable ranch sales over the last ten years. Certainly, its considerable amenities are fast being recognized and appreciated.

In an area surrounded by sizeable ranch holdings and Federal land, Eagle Creek Ranch lies on the western slope of the Little Belt Mountains before they descend to the Smith River and converge with the Big Belt Mountains to the west. This area has transformed over the years from mostly locally-owned ranch operations to larger ranches owned by high net worth out-of- state individuals for recreational retreats as well as valuable and rewarding cattle operations.

For all intents and purposes, the ranch is located at the end of Smith River Road, which is maintained year-round by Meagher County. When passable however, this road does continue and connects to US Highway 89 and the Kings Hill Scenic Byway.

A private driveway heads down into the valley towards Eagle Creek through a pine forest and open hillside before winding through the native hay meadows and following Eagle Creek upstream to the ranch buildings.

Arriving at the ranch and driving to the buildings, the view to the east is of the riparian area along Eagle Creek. The Park Creek drainage lies across the valley and thick stands of timber on USFS land dominates the view to the north. To the south towards Sheep Creek are scattered timbered foothills. The immediate impression is the overwhelming beauty and serenity of this private valley. The classic log home and barn are sited along Eagle Creek and provide just the idyllic setting that one would expect on a classic Montana mountain ranch.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 6 – The ranch operates over 6,910± deeded acres, 200± BLM leased acres, and two USFS grazing allotments that combined are approximately 7,540 acres. The two primary drainages are both forks of Eagle Creek and Sheep Creek which originate above the ranch on USFS lands and flow through it for many miles before their confluence with the Smith River to the southwest.

The rolling topography is a nice mixture of riparian, grassy meadows, grass and timber covered hills and draws. The upper reaches of the ranch adjoin the Lewis and Clark National Forest for six-plus miles.

Sheep Creek, a year-round trout fishing stream, flows through the property for a little under a mile. The upper reaches of the stream are heavily forested on both banks, but downstream on the ranch easy access to the stream is available for exploring and fishing.

Both forks of Eagle Creek, a small stream fishery for brookies, flows through the ranch for approximately four miles and the forks converge immediately above the ranch buildings. As the creek continues its southwesterly flow towards the Smith River, it descends through a limestone canyon which is a beautiful, interesting and exceptional habitat for wildlife.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 7 – ACREAGE AND DEEDED ACREAGE BREAKDOWN 6,910± deeded acres 200± BLM leased acres (57 AUMs) 7,540± USFS allotment acres (Chapman - 170 AUMs and Eagle Creek - 445 AUMs)

The following represents an approximate breakdown of the deeded acreage:

• Irrigated native hay land - 283± acres

• Timbered range - 2,320± acres

• Mountain foothill native range - 4,306± acres

• Farmstead - 1± acre

The buildings on the Eagle Creek Ranch are a house with an open living area and kitchen. nostalgic step back in time. The classic log The front and side porches are a great place home, log horse barn, metal shop and small to relax after a long day in the saddle or wood storage building were built many years chasing elk around the ranch. The main ago by a well-known White Sulphur Springs cattle working facilities are a set of newly ranching family, the Buckinghams. Today, built corrals and are located along the “hard” they are still fully operational and continue Smith River Road. This allows cattle trucks to serve their original functions. The ranch easy access year-round. manager lives in the two bedroom, two bath

The ranch owns 25 recorded water rights. The irrigation rights from multiple sources total 14.73 cubic feet per second of flow and the earliest priority dates back to 1890 out of Eagle Creek. These are used for flood irrigation and cover approximately 283 acres. There are 16 filed rights for watering livestock and they are comprised of springs, wells, and creeks. For domestic, yard and garden, and stock watering near the headquarters there are two springs.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 10 – GENERAL OPERATION The Eagle Creek Ranch generates income as a cattle operation. The current owner leases the summer grass on the ranch to a neighboring respected rancher. This rancher also has a heavy equipment infrastructure installation business and has put in water lines and stock tanks to better utilize the range for grazing. With a long-term lease in place, the lessee has indicated that he would install additional pipe and tanks which would further improve the stocking capacity on the ranch. This simplified operation involves taking in about 450 pairs June 1st and they leave the ranch mid-October. The intent each year is to leave at least 30 percent of the grass in the pastures grazed by the lessee. The ranch is grazed in a rotational manner. The irrigated lands are used to put up native grass hay in round bales. It usually yields a little over a ton per acre, which is typical for mountain native hay land. Hay production on the ranch historically has averaged 250-300 tons per year.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 11 – WILDLIFE RESOURCES Eagle Creek Ranch is rich in wildlife resources. It boasts a large herd of resident elk as well as populations of mule deer, whitetail deer, and an occasional antelope. Ruffed grouse and blue grouse can be found in the aspen bottoms and timbered ridges, respectively, for those who enjoy upland bird hunting. With the open meadows, aspen bottoms, grass hillsides and dark mature timber, the wildlife habitat is diverse with three key elements - food, water and cover. Carefully managed with selective cattle grazing practices, and given the varying terrain and habitat, the property provides excellent hunting opportunities. Hunting on the adjacent national forest is an added bonus.

The big game hunting is currently leased to a respected long-time local outfitter who hunts this ranch along with other ranches she owns. The lease is year-to-year and is utilized primarily during the rifle season. Under past ownership it was also hunted by the outfitter during the archery season, but the current owner wants to keep that season open for his guests. One can tell by driving through the aspen groves on the ranch and counting the number of rubs, that there is plenty of activity during the rut so the archery hunting is undoubtedly outstanding.

The ranch is hunted by the outfitter only a day or two a week, depending on the movement of the game due to weather, pressure on adjoining ranches and adjacent public lands. Elk is the primary quarry, but hunters also have an opportunity to harvest mule or whitetail deer. The ranch has not been outfitted for antelope due to the earlier season and the desire not to interfere with the elk rut. In the past, the bull elk taken have been in the 300-340 class. The harvest by the outfitter’s clients during rifle season are three to four bulls a year which are primarily taken from stands.

Sheep Creek is a major tributary of the Smith River, which roughly doubles the flow of the river at the confluence downstream from Camp Baker put-in. The stream on the ranch is a beautiful mountain stream with fast flows and lots of hiding pools behind large rocks and submerged logs. It is an excellent mountain small stream fishery with consistent action nymphing or on dry flies. In the spring and fall, spawning brown and rainbow trout from the Smith River also frequent this water bringing some bigger fish into the system.

As previously mentioned, Eagle Creek is a small stream and one can consistently catch brookies in the stream and beaver dams throughout its course through the ranch. This is a perfect little stream for young children to have lots of action.

Located 20 minutes from the Eagle Creek Ranch is the legendary Smith River. The 60-mile stretch of this river, downstream of Camp Baker, is well-known to fly fishermen. This float is one of the most spectacular that Montana has to offer. It is most popular in May and June, and again in September and October, when there is normally sufficient water in the river to float a raft. During these periods the float traffic is regulated by a permit system administered by the Montana Fish, Wildlife and Parks Department. There are other opportunities upstream of Camp Baker on a stretch of the river that is rarely floated because of the smaller size of the stream and minimal public access. This portion of the river is characterized by big bends, cut banks, shallow riffles and dark holes. The fish are numerous and the opportunity to land a trophy brown trout is excellent. Spring and early summer are the best times for the biggest fish, and late summer and early fall the hopper fishing can be exceptional.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 14 – In addition to the numerous angling pursuits located somewhat close to the ranch such as Newlan Creek, Deep Creek and Belt Creek, there are a handful of rivers and creeks to fish within reasonable driving distance. The Shields and Yellowstone rivers are located within a couple hours from the ranch and are arguably amongst the best fly fishing rivers in the state. The Missouri River, two and a half hours from the ranch, holds a tail water section of the river below Holter Dam offering world-class fishing for large brown and rainbow trout. For the lake fisherman, Canyon Ferry Lake is an hour and fifteen minutes from the ranch and offers outstanding fishing for a variety of species including walleye, rainbow trout, northern pike, brook trout and Kokanee salmon. There are many mountain lakes and Newlan Reservoir in the nearby National Forest.

Other Outdoor Recreation: As previously mentioned, not only does the area offer downhill skiing at either Bridger Bowl or Showdown, but there are also plenty of other outdoor activities. Snowmobiling is a favored pastime in the area and a group called the Meagher County Little Belters organize events in the Little Belt Mountains. Horseback riding, cross-country skiing, snowshoeing, hiking, backpacking, mountain biking, wildlife viewing and camping – all can be enjoyed on the Eagle Creek Ranch or within the neighboring thousands of acres of Lewis and Clark National Forest.

REAL ESTATE TAXES The real property taxes for Eagle Creek Ranch are approximately $7,700.00 based upon past history.

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 15 – BROKER’S COMMENT When one conjures up an image of what a mountain ranch should look and feel like… Eagle Creek Ranch is the perfect model. A private, secluded and serene valley with surrounding rolling timbered and grass hills, plenty of water and nostalgic buildings - it fits the bill to a tee. The combination of a balanced summer ranching operation and fall wildlife hunting pursuits provide many opportunities to enjoy the amenities the ranch has to offer. The capstone of this fine offering is the overall beauty of the ranch and its surroundings.

PRICE

$13,950,000

NOTICE: Offering is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classifications, acreages, building measurements, carrying capacities, potential profits, etc., are intended only as general guidelines and have been provided by sources deemed reliable, but whose accuracy we cannot guarantee. Prospective buyers should verify all information to their satisfaction. Prospective buyers should also be aware that the photographs in this brochure may have been digitally enhanced.

1. MANAGEMENT SERVICES – Hall and Hall’s Management Division has a very clear mission–to represent the owner and to ensure that his or her experience is a positive one. Services are customized to suit the owner’s needs. They often begin with the recruiting and hiring of a suitable ranch manager or caretaker and are followed by the development of a management or operating plan along with appropriate budgets. Ongoing services include bill paying, ranch oversight, and consulting services as needed. Even the most sophisticated and experienced ranch owners appreciate the value of a management firm representing them and providing advice on local area practices and costs. Wes Oja, Jerome Chvilicek, Dan Bergstrom or Brant Marsh at (406) 656-7500 are available to describe and discuss these services in detail and welcome your call.

2. RESOURCE ENHANCEMENT SERVICES – Increasingly the value of a ranch is measured by the quality of each and every one of its resources. Coincidentally, the enhancement of a ranch’s resources also increases the pleasure that one derives from the ownership of a ranch. Our management services have included the assessment of everything from wildlife habitat to bird habitat to water resources and fisheries and the subsequent oversight of the process involved with the enhancement of these resources. Wes Oja, Jerome Chvilicek, Dan Bergstrom or Brant Marsh at (406) 656-7500 are available to describe and discuss these services in detail and welcome your call.

3. AUCTIONS - Hall and Hall Auctions offer “Another Solution” to create liquidity for the owners of Investment-Quality Rural Real Estate. Our auction team has experience in marketing farmland, ranchland, timberland and recreational properties throughout the nation. Extreme attention to detail and complete transparency coupled with Hall and Hall’s “Rolodex” of more than 40,000 targeted owners and buyers of rural real estate help assure that there are multiple bidders at each auction. In addition, the unique Hall and Hall partnership model creates a teamwork approach that helps to assure that we realize true market value on auction day. For more information on our auction services contact Scott Shuman at (800) 829-8747.

4. APPRAISALS - Staying abreast of ancillary market influences in ever-changing economic conditions requires a broad professional network to tap into. Finding an appraiser who not only understands the numbers but also the differences in value from one area to another is a critical part of making an informed decision. The appraisal team at Hall and Hall, formed entirely of Accredited Members of the American Society of Farm Managers and Rural Appraisers (ASFMRA), has that critical network of brokers and lending professionals. This professional network coupled with diverse experience across multiple regions and market segments allows our appraisal team to deliver a quality product in a reasonable timeframe. Scott Griswold at (406) 656-7500, Ben Gardiner at (970) 520-4871 or Stacy Jackson at (903) 820-8499 are available to describe and discuss these services in detail and welcome your call.

5. SPECIALIZED LENDING - Since 1946 Hall and Hall has created a legacy by efficiently providing capital to landowners. In addition to traditional farm and ranch loans, we specialize in understanding the unique aspects of placing loans on ranches where value may be influenced by recreational features, location and improvements and repayment may come from outside sources. Our extensive experience and efficient processing allows us to quickly tell you whether we can provide the required financing.

Competitive Pricing | Flexible Terms | Efficient Processing Tina Hamm or Scott Moran • (406) 656-7500 Judy Chirila • (303) 861-8282 Adam Deakin • (970) 716-2120 Monte Lyons • (806) 698-6882 J.T. Holt • (806) 698-6884

© 2017 HALL AND HALL | WWW.HALLANDHALL.COM | [email protected] — 19 – UNDERSTANDING WHOM REAL ESTATE AGENTS REPRESENT Montana law requires that BUYER’s and SELLER’s be advised about the different types of agency relationships available to them (MCA § 37-51-102 & 37-51-321). A real estate agent is qualified to advise only on real estate matters. As the client or as the customer, please be advised that you have the option of hiring outside professional services on your own behalf (legal and tax counsel, home or building inspectors, accountant, environmental inspectors, range management or agricultural advisors, etc.) at any time during the course of a transaction to obtain additional information to make an informed decision. Each and every agent has obligations to each other party to a transaction no matter whom the agent represents. The various relationships are as follows: SELLER’s Agent: exclusively represents the SELLER (or landlord). This agency relationship is created when a listing is signed by a SELLER/owner and a real estate licensee. The SELLER’s agent represents the SELLER only, and works toward securing an offer in the best interest of the SELLER. The SELLER agent still has obligations to the BUYER as enumerated herein. BUYER’s Agent: exclusively represents the BUYER (or tenant). This agency relationship is created when a BUYER signs a written BUYER-broker agreement with a real estate licensee. The BUYER agent represents the BUYER only, and works towards securing a transaction under the terms and conditions established by the BUYER and in the best interest of the BUYER. The BUYER agent has obligations to the SELLER as enumerated herein. Dual Agent: does not represent the interests of either the BUYER or SELLER exclusively. This agency relationship is created when an agent is the SELLER’s agent (or subagent) and enters into a BUYER-broker agreement with the BUYER. This relationship must receive full informed consent by all parties before a “dual-agency” relationship can exist. The “dual agent” does not work exclusively for the SELLER or the BUYER but works for both parties in securing a conclusion to the transaction. If you want an agent to represent you exclusively, do not sign the “Dual Agency” Disclosure and Consent” form. Statutory Broker: is a licensee who assists one or more of the parties in a transaction, but does not represent any party as an agent. A licensee is presumed to be acting as a “statutory broker” unless they have entered into a listing agreement with the SELLER, a BUYER-broker agreement with the BUYER, or a dual agency agreement with all parties. In-House SELLER Agent Designate: is a licensee designated by the broker- owner/ manager (of the real estate brokerage) to be the exclusive agent for the SELLER for a specific transaction in which the brokerage has the property listed and the BUYER is working directly through the same brokerage also. This agent may not act on behalf of any other member of the transaction and works for the benefit of the SELLER, but still is obligated to the BUYER as any SELLER’s agent would be. In-House BUYER Agent Designate: is a licensee designated by the broker- owner/ manager (of the real estate brokerage) to be the exclusive agent for the BUYER for a specific transaction in which the brokerage has the property listed and the BUYER is working directly through the same brokerage also. This agent may not act on behalf of any other member of the transaction and works for the benefit of the BUYER, but still obligated to the SELLER as any BUYER’s agent would be. Subagent: is an agent of the licensee already acting as an agent for either the SELLER or BUYER. A “SELLER agent” can offer “subagency” to an agent to act on his behalf to show the property and solicit offers from BUYER’s. A “BUYER agent can offer “subagency” to an agent to act on his behalf to locate and secure certain property meeting the BUYER’s criteria.

Joel Leadbetter of Hall and Hall is the exclusive agent of the Seller.

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