L-BO CREEK RANCH ROBERTS, MONTANA $3,500,000 2,462± ACRES LISTING AGENT: RANDY SHELTON 2290 GRANT ROAD BILLINGS, MONTANA 59102 P: 406.656.7500 M: 406.696.4966 RSHELTON@HALLANDHALL.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 ABILENE, TEXAS COLLEGE STATION, TEXAS LAREDO, TEXAS LUBBOCK, TEXAS SOUTHEASTERN US SALES AUCTIONS FINANCE APPRAISALS MANAGEMENT 2
EXECUTIVE SUMMARY Located approximately five miles northeast of Red Lodge, Montana, the 2,500± acre L-BO Creek Ranch revels in dramatic views of the Beartooth Mountains and Red Lodge Ski Resort. There are also distant views of the Crazies, Snowies, Pryors and Big Horn mountains. An ideal mix of irrigated hay land, dryland hay and grazing support approximately 150 animal units. Along with good water rights, several wells and stock reservoirs, Elbow Creek meanders through the ranch for nearly three miles. Water, productive farm land, and native range host a wide variety of wildlife including upland birds, elk and antelope in the fall, and mule and whitetail deer year-round. Modest but well-kept improvements include a small ranch-style home and ancillary outbuildings. In addition, there is a 2,400-ft. grass runway, airplane hangar and heated storage space. The L-BO Creek Ranch combines beauty, views and multiple recreational features with a significant agricultural operation just minutes from Red Lodge, Montana - the gateway to Yellowstone National Park. 3
LOCATION The L-BO Creek Ranch is accessed by gravel county road just five miles north of Red Lodge, Montana. It is also just over 60 miles southwest of Billings, which is Montana s largest city and offers excellent commercial and private air service. There is seasonal or regular nonstop service from Chicago, Atlanta, Minneapolis, Salt Lake City, Denver, Phoenix and Los Angeles. Red Lodge offers its own paved strip that will handle small private jets. 4
LOCALE The ranch lies on an undulating open bench just north of Red Lodge. This area is characterized by small productive cattle and hay ranches that take advantage of the extensive water resources for irrigation. This is one of the few areas of Montana where homesteads are productive enough to sustain a family, hence the many small ranches in the area that have survived over the years. The greater region encompassing the property continues the same theme for ranches that have increasingly become recreational in nature due to the rich natural resources, aesthetic values and proximity to Billings and other attractive smaller communities in the immediate area. Red Lodge is considered one of the gateways to Yellowstone National Park and is situated at the base of Montana s highest mountain range known locally as the Beartooths. It also boasts its own very challenging ski area, and with its mining heritage, Red Lodge is often likened to Aspen, but on a much more modest scale. Traditional ranching remains strong as this is some of the most productive grass country in the state and even the more recreationally oriented owners find their land to be in strong demand from area ranchers. The small town of Red Lodge is a big area draw and lies on the northern end of the Beartooth National Scenic Byway, which Charles Kuralt deemed to be the most scenic highway in North America. Downtown Red Lodge hosts a variety of services and includes quality dining, accommodations, galleries and other boutique establishments. Red Lodge Ski Area is also a mainstream attraction for winter enthusiasts. Cultural events extend all year with outdoor concerts, food events and festivals. 5
GENERAL DESCRIPTION As one enters the ranch from the west, one sees that the L-BO Creek Ranch consists primarily of an undulant landscape that includes native grasses, hay lands and a riparian corridor that runs west to east for approximately 3 miles. The ranch consists of two non-contiguous tracts which at the closest point are approximately a quarter of a mile apart. Aside from several old homesteads and practical cattle handling facilities, the improvements include a well-kept ranch home and a 2,400-foot runway and airplane hangar which are located in the northern tract of the ranch. The two overwhelming characteristics of the property are its well-balanced agricultural component which, according to the FSA maps, includes over 525 acres of cropland and the awe-inspiring views of the Beartooth front, which rise immediately to the south. ACREAGE 2,462± deeded acres 80± State of Montana leased acres Total 2,542± acres 6
IMPROVEMENTS The primary residence is a 1991 mobile home set on a poured concrete full basement. Each floor is approximately 1,438± sq. ft. and the basement is partially finished. There is a total of 3 bedrooms and 1 bath along with a 2-car attached garage. The barn which was built in 1917, the corrals and ancillary sheds are all in good condition and capable of handling cattle. The hangar which is located away from the residence is approximately 2,500 sq. ft. and has a 40 by 12 Schweiss hangar door. It was built in 2002 and has a bunkroom and full-bath which is serviced by a 11 GPM well, septic and alarm security system. A pole barn was later built on to the hangar in 2004 and provides an additional 2,700± sq. ft. of covered storage which can be accessed by three overhead doors of varying sizes. There are several old interesting homesteads on the ranch, one of which is an old schoolhouse that still has the original chalkboards. 7
GENERAL OPERTATION The L-BO Creek Ranch operates as a recreational/ranch retreat providing enough hay and wild grass to run 150 Animal Units and attract a variety of wildlife species. The ranch has been leased out to a local rancher for the last 16 years on a year to year basis and during that length of time the owner and the tenant have negotiated many different agreements. The ranch has produced as much as 340 tons of hay and as little as no hay, those years it was used solely as irrigated pasture. The owner and tenant have run as many as 200 pairs and as few as 125 pairs with varying ownership shares and responsibilities. WATER RESOURCES Irrigation to the ranch s hayfields is provided by shares of the Rock Creek and Clear Creek Ditch Company and the Pleasant Valley Canal Company as well as from the Jeffery Ditch, Allison Ditch and Robinson Ditches. Along with irrigation, there are a number of reservoirs and six wells on the ranch. 8
WILDLIFE RESOURCES Location, ample water, good cover and feed create very desirable habitat for a variety of wildlife. The most prevalent specie is deer, with both whitetail and mule deer. They can be found about anywhere on the ranch, grazing the hillsides and hayfields or taking cover in the canopied creek bottom. Elk frequently migrate through the ranch in the fall along with antelope. Upland birds inhabit the rolling hills and pheasant can be found in the riparian bottoms and fields. A host of non-game species such as raptors, songbirds, and other fur-bearing animals are also present in good numbers. Elbow Creek provides fishing for small brook and brown trout. Several rivers are close, which include the Stillwater, Rock Creek, the Rosebud Rivers and the Yellowstone, all are tremendous fisheries. Wade fishing and floating in these streams can produce rainbow trout, brown trout and other species up to 20 inches or more. TAXES Annual property taxes are approximately $4,047.00 9
MINERAL RIGHTS All minerals appurtenant to the ranch and owned by the Sellers will be transferred to Buyer at closing. BROKER S COMMENTS The L-BO Creek Ranch is an opportunity to own a productive, but manageable operating ranch in an area with abundant recreation and easy access to Billings, Red Lodge and the Beartooth Mountains. This allows one to enjoy both the culture of Montana s largest city and the amenities of an appealing Montana ski resort town. 10
Click on map above for link to Google Earth map of property. PRICE $3,500,000 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. 11
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 or Justin Bryan at (325) 260-5883 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 or Justin Bryan in our Abilene office at (325) 260-5883 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 12
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. Randy Shelton of Hall and Hall is the exclusive agent of the Seller. 13