ELK MEADOWS RANCH
Lima, Montana
$13,400,000
3,081± Acres
INTRODUCTION
With its significant agricultural production, ample recreational opportunities, and stunning surrounding beauty, Elk Meadows Ranch represents everything one would expect from a premier ranch in Southwestern Montana.
The ranch encompasses approximately 3,081± deeded acres, complemented by an additional 3,096± acres of State Land, offering expansive opportunities for agricultural and recreational activities. Of the deeded land, 1,612± acres are irrigated using pivots, wheel lines, and flood irrigation, supporting a year-round cattle operation and additional hay base or a purebred operation.
The property features the main owner’s residence and four additional homes for staff and guests, ensuring comfortable accommodation for all. State-of-the-art cattle handling facilities include a modern feedlot, indoor working areas, and a calving barn. Outdoor amenities include a loading chute, portable steel corrals, and well-equipped working pens, complete with automatic waterers and windbreaks for livestock.
Natural features enhance the ranch’s appeal, with 3,200± feet of trout-rich and spring-fed Big Sheep Creek bending through the landscape. The area is abundant with wildlife, including elk, pronghorn, and large mule deer and abundant waterfowl, thriving in the ranch’s irrigated fields, rolling hills, and ample live water. Furthermore, the property is bordered by over four miles of public land, expanding your backyard into an endless opportunity for hiking, horseback riding, ATVing, and additional hunting and fishing. The ranch is conveniently located near the small town of Lima, Montana. It is approximately 40± minutes from Dillon, Montana, and 1 hour and 15 minutes from Idaho Falls, Idaho, making it an ideal setting for both agricultural pursuits and recreational enjoyment.
Elk Meadows Ranch | Lima, Montana
QUICK FACTS
• 3,081± deeded acres, with an additional 3,096± acres of State Land
• 1,612± acres of the deeded acres are irrigated by pivots, wheel lines, and flood irrigation
• Acreage and irrigation allow for year-round cattle operation, additional hay base, or purebred operation
• A main owner’s home along with four additional homes for employees and guests
• Modern cattle handling facilities include a state-of-theart feedlot, indoor working facilities, and a calving barn
• Outdoor livestock handling equipment such as loading chutes, portable steel corrals, horse corrals, and fully lit working pens and feedlots. Automatic waterers and windbreaks are placed throughout
• Other improvements include a rustic barn with a new roof and equipment barns and metal shop buildings
• 3,200± feet of trout-rich and spring-fed Big Sheep Creek flowing through the property
• Abundant wildlife, including elk, pronghorn, and large mule deer, and adundant water fowl occupy the ranch’s irrigated land and rolling hills
• Sporting pursuits including big game hunting, waterfowl hunting, fly angling
• Over 4± miles of public land boundary providing access to additional hiking, horseback riding, fishing, and hunting
• Located next to Lima, Montana, approximately 30± minutes to Dillon, Montana, and 1 hour and 15 minutes to Idaho Falls, Idaho
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Elk Meadows Ranch | Lima, Montana
Elk Meadows Ranch | Lima, Montana
Elk Meadows Ranch is located near Lima, Montana, a small community with basic services, a K-12 school, and a population of about 231±. Lima is easily accessible via Interstate 15 and offers a peaceful, small-town atmosphere. Just 49± miles north is Dillon, Montana, which provides a wider range of amenities, including grocery stores, banks, restaurants, and more. To the south, 94± miles away, is Idaho Falls, Idaho, a city of about 52,716± people. Idaho Falls offers extensive cultural, recreational, and commercial services, including museums, performing arts, golf courses, an airport, and a minor league baseball team.
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Elk Meadows Ranch | Lima, Montana
CATTLE OPERATION
Elk Meadows Ranch is designed for year-round or purebred cattle operations, with advanced cattle handling facilities, a calving barn, and outdoor equipment such as loading chutes, portable steel corrals, horse corrals, and fully lit working pens and a feedlot. It features automatic waterers and windbreaks throughout the property. The ranch includes 3,096± acres of state grazing lease, offering 547 AUMs, with an annual lease cost of $5,638.76 in 2023, subject to agency approval. With abundant stock water in each pasture and a modern pipeline system, the ranch is ideal for rotational grazing.
Elk Meadows Ranch | Lima, Montana
IRRIGATION
The ranch enjoys robust water resources, including shares in the Lima Dam Reservoir, Big Sheep Creek, and several tributaries flowing through the property. This ample water supply supports extensive crop cultivation across the ranch, ensuring reliable irrigation throughout the growing season. Eight pivots efficiently irrigate approximately 852± acres, while an additional 45± acres benefit from wheel-line irrigation and around 715± acres are flood irrigated. This combination of water access and irrigation infrastructure allows for high productivity and sustainable land management, enhancing the ranch’s agricultural potential and resilience.
Elk Meadows Ranch | Lima, Montana
IMPROVEMENTS
Elk Meadows Ranch offers a complete residential and operational setup, featuring a well-appointed executive owner’s home and four additional residences for employees and guests, all in good condition. The compound is enclosed by a mix of sturdy steel pipe and traditional jackleg fencing, creating both functionality and rustic charm. A classic barn, recently upgraded with a new roof, stands among mature cottonwood trees, adding warmth and historic character to the ranch.
The property also includes several outbuildings, with equipment barns to protect farm machinery and metal shop buildings providing adaptable spaces for maintenance and repair work on all ranch equipment.
The owner’s residence spans 2,850± square feet, thoughtfully designed for both craftsmanship and comfort. This fivebedroom, two-bathroom home showcases custom touches throughout, including a beautiful stone fireplace for cozy gatherings during cooler months. A fully finished basement adds additional living space, complete with a kitchenette, bedrooms, bathroom, and a family room—ideal for hosting family or guests. Elk Meadows Ranch combines practicality with rustic elegance, making it an inviting and efficient retreat.
Elk Meadows Ranch | Lima, Montana
WILDLIFE & RECREATION
Nestled in the heart of Southwest Montana, this ranch is bordered by vast state and Forest Service lands, offering unparalleled privacy and boundless opportunities for outdoor adventure. The property is an ideal setting for hiking, horseback riding, fishing, and hunting—all accessible right from your doorstep. With 3,200± feet of frontage along the trout-rich Big Sheep Creek, anglers and nature lovers will find a paradise filled with wildlife and serene landscapes.
In addition to fishing, the ranch lies within Montana’s General 303 Hunting District, renowned for its abundant game and seasonal wildlife migrations. Hundreds of elk traverse the property each year, creating exceptional opportunities for hunters to pursue large bull elk. The natural habitat supports diverse wildlife, offering prime hunting conditions and a rich experience for wildlife observation. This unique combination of location, privacy, and outdoor activities makes the ranch a dream destination for those seeking both adventure and tranquility in the Montana wilderness.
Elk Meadows Ranch | Lima, Montana
Elk Meadows Ranch | Lima, Montana
MINERAL RIGHTS
All mineral rights appurtenant to the property and owned by the seller will convey to the buyer at closing. Mineral rights are not guaranteed. It is suggested that the buyer conduct a mineral search with a title company.
CONSERVATION | STEWARDSHIP
Each of us at Fay loves the land and wants to see it remain a productive agricultural ground and a quality fish and wildlife habitat. Through promoting thoughtful land stewardship, Fay has guided owners toward a legacy of conserving wide-open spaces, enhancing and creating fisheries and wildlife habitats, and implementing sustainable agricultural operations. Fay is proud to say that since our company began in 1992, our clients’ conservation ethics and land-use practices have significantly enhanced our work landscape.
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WATER RIGHTS
Montana waters, in all their varied forms and locations, belong to the State for the benefit of its people. A water right is the right to use the water within state-established guidelines, and not any ownership of the water itself. Since water rights in Montana are guided by the prior appropriation doctrine, a person’s right to use a specific quantity of water depends on when the use of water began, establishing the relative priority date of use on the water source. The first person to use water from a source established the first right, the second person could establish a right to the water that was left, and so on. Additionally, water users are limited to the amount of water that can be beneficially used. Beneficial use includes, but is not limited to, agricultural, recreational, fish, wildlife and domestic purposes.
Montana is currently conducting a statewide adjudication of all water rights with priority dates prior to July 1, 1973. The statewide adjudication is a court process that prioritizes and quantifies all existing water rights in each Montana drainage basin. With 85 basins in Montana, and over 219,000 water right claims, the statewide adjudication is a massive undertaking that is expected to stretch well into the future. Until the adjudication process is complete, the status of any particular water right claim cannot be guaranteed. Fay Ranches, Inc., its brokers and salespersons do not warrant or make any representation concerning the quantity or quality of any water rights, nor any legal entitlement to use of water rights, permits to appropriate water, exempt existing rights, determination of existing water rights, nor any ditches, ditch rights, or ditch easements appurtenant to or constituting a burden on the property. Water rights claims appurtenant to the property may or may not have been fully or finally adjudicated, and any Buyer is advised to make any offer to purchase contingent upon and subject to such independent inspections, evaluations, and advice concerning the water rights and adjudication process as a Buyer might deem prudent. All Buyers should be aware that Fay Ranches, Inc., its brokers and salespersons involved in this offering have not conducted an expert inspection or analysis of the water rights for this property.
Elk Meadows Ranch | Lima, Montana
Elk Meadows Ranch | Lima, Montana
SUMMARY
Elk Meadows Ranch combines significant agricultural productivity, abundant recreational opportunities, and breathtaking natural beauty, embodying the best of Southwestern Montana. Accommodations include a main owner’s residence and four homes for staff and guests, complemented by modern cattle handling facilities. Bordered by miles of public land, the property is a playground for hiking, horseback riding, fishing, and hunting. Its convenient location, near Lima and within easy reach of Dillon and Idaho Falls, makes Elk Meadows Ranch an unparalleled setting for agricultural success and year-round outdoor enjoyment.
Elk Meadows Ranch | Lima, Montana
Elk Meadows Ranch | Lima, Montana
This is an exclusive co-listing with Fay and Beaverhead Home and Ranch. Please contact Ryan Bramlette at (406) 580-9569 | rbramlette@fayranches.com or Chance Bernall at (406) 925-1988 | cbernall@beaverheadhomeandranch.com to schedule a showing. An agent from Fay or Beaverhead Home and Ranch must be present at all showings unless otherwise noted or other arrangements are made. To view other properties we have listed, please visit our webpage at www. fayranches.com
$13,400,000 Cash
Conventional Financing 1031 Exchange
Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction.
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RELATIONSHIPS IN REAL ESTATE
As required by Montana law, a broker or salesperson shall disclose the existence and nature of relevant agency or other relationships to the parties to a real estate transaction. The various relationships and description of duties are as follows:
1. SELLER AGENT
A “Seller Agent” is obligated to the Seller to:
Act solely in the best interests of the seller; Obey promptly and efficiently all lawful instructions of the seller; Disclose all relevant and material information that concerns the real estate transaction and that is known to the seller agent and not known or discoverable by the seller unless the information is subject to confidentiality arising from a prior or existing agency relationship on the part of the seller agent; Safeguard the seller’s confidences; Exercise reasonable care, skill, and diligence in pursuing the seller’s objectives and in complying with the terms established in the listing agreement; Fully account to the seller for any funds or property of the seller that comes into the seller agent’s possession; and Comply with all applicable federal and state laws, rules, and regulations.
Montana law permits a real estate agent, after providing written disclosure to a seller and obtaining a seller’s written consent, to represent multiple sellers of property and to list properties for sale that may compete with the seller’s property, without breaching any obligation to the seller.
A “Seller Agent” is obligated to the Buyer to:
Disclose to a buyer or the buyer agent any adverse material facts that concern the property and that are known to the seller agent, except that the seller agent is not required to inspect the property or verify any statements made by the seller; Disclose to a buyer or the buyer agent when the seller agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; Act in good faith with a buyer and a buyer agent; and Comply with all applicable federal and state laws, rules, and regulations.
2. BUYER AGENT (cont)
A “Buyer Agent” is obligated to the Seller to:
Disclose any adverse material facts that are known to the buyer agent and that concern the ability of the buyer to perform on any purchase offer; Disclose to the seller or the seller agent when the buyer agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; Act in good faith with a seller and a seller agent; and Comply with all applicable federal and state laws, rules and regulations.
3. DUAL AGENCY If a seller agent is also representing a buyer, or a buyer agent is also representing a seller with regard to a property, then a dual agency relationship may be established. In a dual agency relationship, the dual agent is equally obligated to both the seller and the buyer. These obligations may prohibit the dual agent from advocating exclusively on behalf of the seller or buyer and may limit the depth and degree of representation that you receive. A broker or a salesperson may not act as a dual agent without the signed, written consent of both the seller and the buyer.
A “Dual Agent” is obligated to a Seller in the same manner as a seller agent and is obligated to a Buyer in the same manner as a buyer agent, except a dual agent:
Has a duty to disclose to a buyer or seller any adverse material facts that are known to the dual agent regardless of any confidentiality considerations; and May not disclose the following information without the written consent of the person to whom the information is confidential; The fact that the buyer is willing to pay more than the offered purchase price; The fact that the seller is willing to accept less than the purchase price that the seller is asking for the property; Factors motivating either party to buy or sell; and Any information that a party indicates in writing to the dual agent is to be kept confidential.
4. STATUTORY BROKER
A “Statutory Broker” is not the agent of the Buyer or Seller but nevertheless is obligated to them to:
Disclose to: i. a buyer or buyer agent any adverse material facts that concern the property and that are known to the statutory broker, except that the statutory broker is not required to inspect the property or verify any statements made by the seller; and ii. a seller or a seller agent any adverse material facts that are known to the statutory broker and that concern the ability of the buyer to perform on any purchase offer; Exercise reasonable care, skill, and diligence in putting together a real estate transaction, and Comply with all applicable federal and state laws, rules and regulations.
5. IN-HOUSE SELLER AGENT DESIGNATE Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house seller agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a seller for a designated transaction and who may not be considered to be acting for other than the seller with respect to the designated transaction.
6. IN-HOUSE BUYER AGENT DESIGNATE
Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house buyer agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a buyer for a designated transaction and who may not be considered to be acting for other than the buyer with respect to the designated transaction.
BUYER AGENT
A “Buyer Agent” is obligated to the Buyer to: Act solely in the best interests of the buyer; Obey promptly and efficiently all lawful instructions of the buyer; Disclose all relevant and material information that concerns the real estate transaction and that is known to the buyer agent and not known or discoverable by the buyer, unless the information is subject to confidentiality arising from a prior or existing agency relationship on the part of the buyer agent; Safeguard the buyer’s confidences; Exercise reasonable care, skill, and diligence in pursuing the buyer’s objectives and in complying with the terms established in the listing agreement; Fully account to the buyer for any funds or property of the buyer that comes into the buyer agent’s possession; and Comply with all applicable federal and state laws, rules and regulations. Montana law permits a real estate agent, after providing written disclosure to a buyer and obtaining a buyer’s written consent, to represent multiple buyers interested in buying the same property or similar properties to properties in which a buyer is interested and to show properties in which a buyer is interested to other prospective buyers, without breaching any obligation to the buyer.
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