TETON TIMBERS RANCH DRIGGS, IDAHO $4,500,000 960± ACRES LISTING AGENT: TRENT JONES LISTING AGENT: KEN DUNN 560 2ND AVENUE NORTH KETCHUM, IDAHO 83340 P: 208.622.4133 M: 208.720.2871 TJONES@HALLANDHALL.COM SAGE REALTY GROUP 189 NORTH MAIN STREET, SUITE 100 DRIGGS, IDAHO 83422 P: 208-354-9955 M: 208-221-3866 KDUNN@SAGERG.COM
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. WITH OFFICES IN: DENVER, COLORADO EATON, COLORADO STEAMBOAT SPRINGS, COLORADO SUN VALLEY, IDAHO HUTCHINSON, KANSAS BUFFALO, WYOMING BILLINGS, MONTANA BOZEMAN, MONTANA MISSOULA, MONTANA OWASSO, OK COLLEGE STATION, TEXAS LAREDO, TEXAS LUBBOCK, TEXAS SOUTHEASTERN US SALES AUCTIONS FINANCE APPRAISALS MANAGEMENT 2018 HALL AND HALL WWW.HALLANDHALL.COM INFO@HALLANDHALL.COM 2
EXECUTIVE SUMMARY Teton Timbers Ranch is a one-of-a-kind, wild and beautiful 960± acre private inholding within the Big Hole Mountains of the 2.5 million acre Caribou-Targhee National Forest. It is located in the Teton Valley 12 miles west of Driggs, Idaho and its jet-capable general aviation airport. The property is almost completely surrounded by national forest and an easy drive to some of the best fly-fishing and skiing in the world. The terrain consists of elevated and forested hillsides punctuated by aspen groves, open parks, creeks, sweeping views of the Teton Range and inspiring views of the Grand Teton itself. Teton Timbers Ranch is a virtually untouched wilderness property perfect as a very private mountain biking, hiking, horseback riding, ATV ing, cross-country skiing, snowshoeing and snowmobiling getaway. It has the unusual benefit of being only a short and mostly paved drive from downtown Driggs, Grand Targhee Ski Resort, and Huntsman Springs Golf Course, which together make up one of North America s prominent year-round resort communities; overshadowed only by the area s better known neighbor, Jackson Hole, located just 30 minutes further away on the other side of the Tetons. 3
LOCATION Located in the Big Hole Mountains that form one side of Idaho s Teton Valley, Teton Timbers Ranch lies 12 miles west of the mountain community of Driggs and 45 miles from Jackson Hole. Access to the ranch is over well-maintained, paved county roads until the final mile, which is along a very good gravel road over adjoining national forest lands to the ranch gate. Teton Timbers Ranch lies between 6,600 and 7,600 feet above sea level on generally eastfacing, partially timbered, and gently sloping hillsides of the Big Hole range. The ranch sits at the head of six named tributaries to the North Fork of Horseshoe Creek, which is an important tributary to the Teton River. The property lies three miles north of Garns Mountain, which at 9,016± feet is the highest peak in the Big Hole range. Nearby Driggs and its sister community of Victor offer a wide variety of services and amenities including high-end restaurants, gourmet coffee shops, grocery and hardware stores, several golf courses and Grand Targhee Ski Resort (recently ranked as one of the nation s top ten ski resorts by Forbes magazine). Additionally, Driggs has an excellent general aviation airport, the Driggs-Reed Memorial Airport, served by Teton Aviation Center, offering an on-site restaurant, pilot s lounge, custom concierge services, maintenance, hangers and a paved 7,300 by 100 foot runway at 6,230± feet in elevation. A more extensive offering of services is found in either Jackson or Idaho Falls. The former needs no introduction and is known as the gateway to Teton National Park and the southern entrance to Yellowstone National Park. Jackson Hole is an easy 45-mile drive east from the ranch along scenic state highways. Jackson embodies the romantic cowboy heritage of years gone by and is one of the country s most popular destinations for tourists and outdoor enthusiasts. Here you will find plentiful fine dining options, five-star hotels, museums and cultural offerings, rodeos and recreation options that rival anyplace in the West. Idaho Falls is 75 miles west of the ranch and offers a wide variety of commercial and retail establishments. Both communities provide good commercial air service to cities throughout the U.S. 4
LOCALE The Teton Valley is an expansive, fertile valley lying between the peaks of the Grand Tetons to the east, the Palisade Range to the south, and the more intimate Big Hole Mountains to the west. The valley is the headwaters of the Teton River, a blue ribbon trout fishery, and once a strategic center of the fur trade in the northern Rocky Mountains. The Teton Valley was once known as Pierre s Hole in honor of le grand Pierre Tivanitagon, a mountain man and fur trapper who laid claim to the area s trapping rights. Unlike the neighboring valley on the east side of the Tetons, known as Jackson s Hole, the name Pierre s Hole did not last after being settled by Mormon pioneers in the late 1800 s. As real estate values and the cost of living soared on the other side of the Tetons in Jackson Hole, many moved over the hill to Victor and Driggs, and many locals started referring to the valley as the quiet side of the Tetons. Much like Basalt and Carbondale are to Aspen, these once sleepy towns have become diverse, vibrant communities that attract seasonal visitors and year-round residents alike. Many have moved to Driggs and Victor to escape the huge influx of tourists who pass through Jackson each summer. Driggs also boasts a dynamic agricultural economy which adds to its diversity. 5
Although located in Wyoming, Grand Targhee Resort can only be accessed via Driggs and is one of the valley s greatest attractions. Widely recognized for its outstanding powder snow conditions, with over 500 inches of snowfall during many seasons, Grand Targhee has become a destination resort in its own right and is an easy drive from the ranch. Cross-country skiing, snowshoeing and snowmobiling are also very popular winter activities in Driggs and Jackson. Besides being the county seat, Driggs features a new golf development named Huntsman Springs. The Huntsman family, of Huntsman Chemical, invested substantially in the development and engaged the renowned golf architect, David McLay Kidd, to design the course at Huntsman Springs. McLay Kidd considers this to be his greatest golf architectural achievement. Rated amongst the top hundred in the world, the course has won many awards and is only minutes from the ranch. Teton Valley is well known for its summer recreation, particularly the outstanding fly fishing in the Teton River, South Fork of the Snake, and the famous Henry s Fork. The Big Hole Mountains are a friendly range that attract local recreationists for hiking and mountain biking. The ranch dominates much of the eastern face of these mountains. In short, this part of the Teton Valley has come to combine agriculture and recreation in a very positive way. 6
GENERAL DESCRIPTION Teton Timbers Ranch is surrounded almost entirely by the 2.5±-million acre Caribou-Targhee National Forest, which itself, borders Grand Teton and Yellowstone National Parks. This extends the ranch s backyard far beyond the property boundary, adding even more year-round recreational opportunities and bringing the ranch owners in contact with moose, elk, deer, raptors and all of the wildlife of the area. Only a single private landowner joins the ranch. Located along the southeast corner of Teton Timbers, this property consists of 120± acres held in a conservation easement with the Teton Regional Land Trust, limiting future development. Teton Timbers Ranch lies along the east face of the Big Hole Mountains and controls a series of spring-fed drainages that emerge from a rocky ridge that is the dominant feature of this mountain range. Accessed from the south end of Horseshoe Canyon from a paved county road, the ranch road leaves the county road at the historic townsite of Sam and follows a very good gravel road for 1.2 miles along an easement through national forest and dead ends at the ranch entry gate. The lower elevations of the ranch are shielded from the valley floor by a series of foothills referred to as Idaho Ridge and offer some of the best mountain bike riding in the region. The current owners have constructed a backcountry yurt just above the entry gate. This would also be an ideal spot for a new owner or a manager s home as it sits on a dramatic landing that commands views of both the high ridges that form Packsaddle Basin west of the property and the more distant peaks of the Grand Teton Range to the east. The ranch can also be accessed from a series of entrance roads off Packsaddle Road (a Forest Service road that runs north from the entrance road paralleling the property along its eastern boundary). These access points allow one to enter the property along the series of drainages, which flow through the land from west to east. 7
The terrain consists of hillsides marked by groves of conifers and aspens interspersed with grassy parks. There is a network of ten miles of roads that provide good access to all but the most remote portions of the property. The original homesite is served by power and telephone. Buried utility lines pass through the southern portion of the ranch to access a microwave facility beyond the property boundary. Several other homesites sit in beautiful meadows with creeks flowing by and amazing views of the Tetons to the east. There are about 12 million board feet of merchantable timber currently standing on the property. A plan currently in place to sustainably harvest some of these trees would not only provide a potential source of income for the next owner, but would also open up additional meadows and glades. 8
ACREAGE BREAKDOWN 960± deeded acres consisting of lightly to heavily timbered land with some smaller open meadows and parks. CLIMATE Lying between 6,600 and 7,600 feet above sea level in the eastern corner of the Snake River Plain, Teton Timbers Ranch experiences a full four seasons of weather. Total annual precipitation in the valley averages 17 inches, with over half of that coming from snow. The winters bring substantial snow accumulations, which are ideal for winter recreation such as cross-country skiing, snowshoeing and snowmobiling. Summertime temperatures average in the high 70 s and most summer days begin with a light jacket, as morning lows range in the mid-40 s. During the winter months, highs average in the upper 20 s and lows dip into the single digits. 9
IMPROVEMENTS No permanent structures stand on the property. A single yurt mounted on a Trex decking platform, offering commanding views of the Grand Tetons and Teton Valley, is located above the ranch entrance. The yurt has electrical and gas service with well water to the site. The current yurt site, along with numerous open meadows, offer the new owner a virtual blank canvas on which to create a building compound. WATER RESOURCES There are six named mountain streams that begin on the property, as well as a domestic well at the site of the yurt. A spring located on the property has an approved water right for domestic use and was once used as a domestic water source. There are no irrigation water rights. 10
TIMBER RESOURCES The current owners completed a sustainable timber harvest in 2015. The American Forest Foundation awarded its American Tree Farm System certification to the property. The certification means that the timber harvest was done in accordance with best practices for reforestation, aesthetics, and the protection of air, water, soil and wildlife. Further, the timber harvest also reduced the risk of wildfire, cut back on parasitic plants and bugs and increased species diversity. Douglas fir, lodgepole pine, Engelmann spruce and quaking aspen comprise the nearly 12 million board-feet of timber currently standing on the property. The current owners removed roughly three million board-feet in 2015. Another two million could be removed under the same prescription by the next owner. The costs of this harvest would be very low as the road infrastructure is already in place. 11
WILDLIFE Deer, elk, moose, mountain lion, and black bear are the primary big game species to be found on and around the ranch. Avian species include bald eagles, red tail hawks, goshawk, peregrine falcon, three-toed woodpeckers, great gray owls and ruffed grouse. The property is rich in smaller mammals and birds in season, as it is a lush, protected parcel surrounded by national forest with an abundance of springs and small creeks. Resident and non-resident deer and elk tags are available over the counter in Idaho and the Teton Timbers Ranch offers good on-site hunting and direct access to thousands of acres of public lands with game. RECREATIONAL CONSIDERATIONS All four seasons offer an amazing number of on-ranch activities. In the spring and summer, hike, ride horses, mountain bike, drive ATVs or just watch the wildlife wandering through the ranch. Explore the ranch during the winter months via snowshoes, cross-country skis or by snowmobile. These same activities, and more, can be had on forest service lands surrounding the ranch and in the greater Driggs/Jackson area. SPECIAL CONSIDERATIONS The owners have completed a preliminary master plan for the property. It is available at the following link: Master Plan TAXES Based upon past years, the real estate taxes are estimated to be $2,540 per year. 12
MINERAL RIGHTS Sellers will convey 100 percent of the mineral rights that they own. SPECIAL CONDITIONS Teton Timbers Ranch is not encumbered by a conservation easement. However, because of its easy access to a desirable community with substantial resort amenities, it would certainly lend itself to development, making it a prime candidate for a conservation easement. It would also be an excellent candidate for acquisition by the U.S. Forest Service, which almost entirely surrounds it. 13
BROKERS COMMENT Ten miles of roads through mountain meadows, across hillsides, and over streams enable endless on-ranch summer (hiking, trail running, horseback riding, mountain biking, ATVing) and winter (cross-country skiing, snowshoeing, snowmobiling) recreational activities. As a forest service inholding, the ranch is a virtual private wilderness retreat, and the public lands surrounding it extend the ranch s backyard far beyond the property s borders. It is extremely rare to find a wild and beautiful forest service inholding of nearly 1,000 acres lying only 12 miles from a year-round recreational town and within an hour of a world famous resort community like Jackson Hole. Undoubtedly, this piece of wilderness could be one of the most desirable mountain retreats in the region. 14
Click on map above for link to Google Earth map of property. PRICE $4,500,000 for the real estate. TERMS Cash at closing 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. 15
ADDITIONAL SERVICES OFFERED BY HALL AND HALL 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 and Jerome Chvilicek 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 or Dan Bergstrom 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. For more information contact our appraisal team at (406) 656-7500. 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 Dave Roddy (406) 656-7500 Mike Hall or Judy Chirila (303) 861-8282 Monte Lyons (806) 698-6882 J.T. Holt (806) 698-6884 2018 HALL AND HALL WWW.HALLANDHALL.COM INFO@HALLANDHALL.COM 16
IDAHO BROKERAGE DISCLOSURE The law requires all real estate licensees to perform certain basic duties when dealing with any real estate buyer or seller. You can expect any real estate licensee you deal with to provide the following customer-level services: To perform necessary and customary acts to assist you in the purchase or sale of real estate; To perform these acts in good faith and with reasonable care; To properly account for money or other property you place in his or her care; and To disclose adverse material facts which are, or should be, within that licensee s knowledge. These include facts that would significantly affect the desirability or value of the property to a reasonable person, and facts that would indicate to a reasonable person that one of the parties cannot, or will not, complete his obligations under the contract. (Note: Idaho law exempts psychological impacts from this disclosure requirement. See Section 55-2701, Idaho Code) Unless or until you enter a written agreement with the brokerage for agency representation, you are considered a Customer of the brokerage, and the brokerage will not act as your agent. As a Customer, you should not expect the brokerage or its licensees to promote your best interest, or to keep your bargaining information confidential. Whenever you speak to a licensee who represents a party on the other side of the transaction, (e.g., you are seeking to buy the property, and the licensee represents the seller), you should assume that any information you provide will be shared with the other party. If offered by the real estate brokerage, you may enter a written agreement for Agency Representation, requiring that the brokerage and its licensees act as an Agent on your behalf and promote your best interests as their Client. Idaho law authorizes three types of Agency Representation. Single Agency: If you enter a written agreement for Agency Representation, you, as a Client, can expect the real estate brokerage to provide the following services, in addition to the basic duties and obligations required of all licensees: To perform the terms of your written agreement with skill and care; To promote your best interest, in good faith, honest and fair dealing; If you are the seller, this includes seeking a buyer to purchase your property at a price and under terms and conditions acceptable to you, and assisting in the negotiation thereof; and, upon your written request, asking for reasonable proof of a prospective buyer s financial ability to purchase your property; If you are the buyer, this includes seeking a property to purchase at an acceptable price, terms and conditions, and assisting in the negotiation thereof; and, when appropriate, advising you to obtain professional inspections of the property, or to seek appropriate tax, legal and other professional advice or counsel. To maintain the confidentiality of specific client information, including bargaining information, even after the representation has ended. Limited Dual Agency: At a time you enter an agreement for Agency Representation, you may be asked to give written consent allowing the brokerage to represent both you and the other party in a transaction. This dual agency situation can arise when, for example, the brokerage that represents you, the seller, also represents buyers who may be interested in purchasing your property. When this occurs, it is necessary that the brokerage s representation duties be limited because a buyer and seller have built-in conflicts of interest. Most significantly, the buyer typically wants the property at the lowest price, while the seller wants top dollar. As a limited dual agent, the brokerage and its licensees cannot advocate on behalf of one client over the other, and cannot disclose confidential client information concerning price negotiations, terms or factors motivation the client/buyer to buy or the client/seller to sell. However, the brokerage must otherwise promote the best interests of both parties, perform the terms of the written representation agreement with skill and care, and perform all other duties required by law. 17
Buyers and sellers alike often find it desirable to consent to limited dual agency: buyers do not want the brokerage to be restricted in the search for suitable properties, and sellers do not want the brokerage to be restricted in the search for suitable buyers. Thus, when all parties agree in writing, a brokerage may legally represent both the buyer and the seller in the same transaction, but only as a limited dual agent. Limited Dual Agency with Assigned Agents: In some situations, a brokerage that has obtained consent to represent both parties as a limited dual agent may assign individual licensees ( sales associates ) to act soley on behalf of each party. (The brokerage must have an office policy that ensures client confidences are protected.) Where this is the case, the sales associate, or assigned agent, is not limited by the brokerage s agency relationship with the other party, but instead has a duty to promote the best interest of the client that he or she is assigned to represent, including negotiating a price. The designated broker (the licensee who supervises the sales associates in the brokerage firm) remains a limited dual agent for both clients, and ensures the assigned agents fulfill their duties to their respective clients. What to Look For in Any Agreement for Agency Representation: Whatever type of representation you choose, your written Agency Representation Agreement should answer these questions: How will the brokerage be paid? When will this Agreement expire? What happens when a transaction is completed? Can I cancel the Agreement, and if so, how? Can I work with other brokerages during the time of the Agreement? And what happens if I sell or buy on my own? Am I willing to allow this brokerage to represent me and the other party in the same transaction? Real Estate Licensees Are Not Inspectors: Even if you have a written agreement for agency representation, you should not expect the brokerage or its licensees to conduct an independent inspection of the property, or to independently verify any statement or representation made by any party to the transaction or other reasonably reliable sources (such as a licensed appraiser, home inspector, or the county assessor s office). Real estate licensees are entitled to reasonably rely on the statements of their clients and other third-party sources. If the condition of the property is important to you, you should hire an appropriate professional, such as a home inspector, surveyor, or engineer. Idaho Real Estate Brokerage Representation Act: The specific duties owed by the real estate brokerage and its licensees to a customer or client are defined by the Idaho Real Estate Brokerage Representation Act, located at Idaho Code Section 54-2052, et seq. When you sign a real estate Purchase and Sale Agreement as a buyer or seller, you will be asked to confirm: 1. that this disclosure was given to you and that you have read and understand its contents; and 2. the agency relationship, if any, between you and the brokerage working with you. Trent Jones of Hall and Hall and Ken Dunn of Sage Realty Group are the exclusive agents of the Seller. 18