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$72,000,000
370696 MLS
Like the cold, clear waters of Flathead Lake, mystique surrounds Cromwell Island. It overlooks the legendary Wild Horse Island, where Salish and Kootenai historically swam their horses to keep them safe from rival tribes. With 348 acres and nearly three miles of shoreline, Cromwell is the largest private island in freshwater west of the Mississippi River that is under a single ownership. The island was purchased in the late 1980s by Robert M. Lee, a renowned automobile and antique arms collector, explorer, author, and conservationist. Before his death in 2016, Mr. Lee and his wife, Anne, partially completed construction on homes including 45,000 square feet of living space. Even in its unfinished state, ''The Villa'' has a magnitude of presence reminiscent of Versailles.

Dayton

Courtesy of Bill McDavid with Hall and Hall.

$72,000,000
2 Beds 2 Baths 22204890 MLS
Remarks: Like the cold, clear waters of Flathead Lake, mystique surrounds Cromwell Island. It overlooks the legendary Wild Horse Island, where Salish and Kootenai historically swam their horses to keep them safe from rival tribes. With 348 acres and nearly three miles of shoreline, Cromwell is the largest private island in freshwater west of the Mississippi River that is under a single ownership. The island was purchased in the late 1980s by Robert M. Lee, a renowned automobile and antique arms collector, explorer, author, and conservationist. Before his death in 2016, Mr. Lee and his wife, Anne, partially completed construction on homes including 45,000 square feet of living space. Even in its unfinished state, ''The Villa'' has a magnitude of presence reminiscent of Versailles. Surface Water: Flathead Lake

Nhn Cromwell Island Road, Dayton

Listing courtesy of Listing Agent: Bill McDavid | mcdavid@hallandhall.com from Listing Office: Hall & Hall Partners LLP.

$54,000,000
6 Beds 353209 MLS
The ranch has extensive water resources, excellent range conditions, productive irrigated fields, and first class hunting for all species. Boasting eight center pivots, eight-wheel lines, gated pipe, and flood irrigation across 1,100± acres, the high-producing soils cultivate a bountiful harvest of corn, small grains, sugar beets, and alfalfa. For the avid hunter, pursuing monster bull elk, majestic white-tailed deer, graceful mule deer, swift antelope, pheasants, turkeys, Hungarian partridge, and sharp-tailed grouse. Notably, this ranch is renowned for its world-class waterfowl hunting, setting the stage for thrilling moments in the field. There also has 11 Hunter Blinds strategically placed throughout the ranch. Mature cottonwoods line the famous meandering Bighorn River for miles and fishing adventures are endless. Rarely do we see trophy-caliber ranches like this come to market.

TBD County Rd 147A, Custer

Listing courtesy of Mike Sedgwick from Hayden Outdoors Real Estate

$54,000,000
3 Beds 3 Baths 402651 MLS
The Custer Legacy Ranch provides a rare combination to today’s market. This self-sustaining 23,500+/- acre deeded ranch is a single contiguous block, along with 1,280 acres of state lands lease totaling 24,780 acres. The ranch has extensive water resources, excellent range conditions, productive irrigated fields, and first class hunting for all species. The improvements on the ranch include four homes, one modular and the historic cabin that provide modern living accommodations for employees and guests. The homes have been maintained and updated as needed. Various locations of structures separate the homes and offer privacy for the occupants. There are several outbuildings at the main headquarters that include the following: two open faced buildings that provide protection for farm equipment, a large, heated shop, oil shed, a mill for grinding grains, 6 grain bins totaling 100,000 bushels of storage, a vet barn, a feedlot/working corrals, and scale house. One of the houses is perfectly located along the timbered foothills on the ranch’s western boundary, providing easy access to some of Montana’s finest elk & mule deer hunting. This set of improvements is approximately 7 miles from the other improvements and includes an additional log barn, granary, shop and a steel building. Custer Legacy Ranch offers extensive agricultural opportunities. Boasting eight center pivots, eight-wheel lines, gated pipe, and flood irrigation across 1,100± acres, the high-producing soils cultivate a bountiful harvest of corn, small grains, sugar beets, and alfalfa. The Ranch has extensive water rights that run with the property and also has shares of the Victory Ditch. For the avid hunter, prepare for an exhilarating adventure, pursuing monster bull elk, majestic white-tailed deer, graceful mule deer, swift antelope, pheasants, turkeys, Hungarian partridge, and sharp-tailed grouse. Notably, this ranch is renowned for its world-class waterfowl hunting, setting the stage for thrilling moments in the field. There also has 11 Hunter Blinds strategically placed throughout the ranch. Mature cottonwoods line the famous meandering Bighorn River for miles and fishing adventures are endless. Rarely do we see trophy-caliber ranches like this come to market. The Custer Legacy Ranch has all the desirable features, with unmatched privacy and scenic beauty combined with remarkable conservation and wildlife values.

TBD 147A, Hardin

Courtesy of Mike Sedgwick with Hayden Outdoors Real Estate.

$46,000,000
30074042 MLS
*VIEW PROPERTY TOURS* Spanning nearly 5,500 acres, this is one of Montana's most extraordinary legacy properties, offering an exceptionally rare opportunity to own a landscape of this scale, beauty, & versatility. With sweeping mountain views, rolling hillsides, abundant wildlife, an active wheat farm, & endless recreation, properties of this caliber seldom become available. Whether your vision is a private family ranch, an exclusive sporting retreat, a luxury master planned community, or a multi-generational estate where family & friends gather for generations, this property provides the foundation for something truly unforgettable. Imagine creating your own private adventure camp where mornings begin with horseback rides, hiking, or sporting clays, afternoons are spent boating, wake surfing, paddleboarding, or fishing on nearby Flathead Lake & the Flathead River, & evenings end beneath Montana's unforgettable sunsets. The property's sporting history is second to none, having hosted the U.S. Open Sporting Clays Championship, while the private rifle range has accommodated military training exercises. Combined with the established pheasant preserve, this creates an outdoor recreation experience rarely found on a single property. Already recognized as one of the premier sporting destinations in the country, the property has proudly hosted the U.S. Open Sporting Clays Championship, features a private rifle range utilized for military training, & has been home to a pheasant preserve, creating an unmatched destination for outdoor enthusiasts, sportsmen, & conservationists alike. With significant acreage, a private landing strip, productive farmland, & exceptional development potential, the opportunities are as remarkable as the property itself. Conveniently located near Polson, Flathead Lake, Lakeside, Bigfork, Whitefish, Glacier National Park, & Missoula, this is more than land. It's a once-in-a-generation opportunity to create a legacy that will endure for decade Additional highlights include an active wheat farming operation, offering both productive agricultural value & investment potential while preserving the property's rich Montana heritage. The property's size, diversity, & location create exceptional flexibility for future ownership. Potential uses may include a private family ranch, luxury estate, sporting destination, conservation-focused ownership, or future residential or recreational development, subject to buyer verification of all applicable zoning, approvals, & governmental requirements. The private landing strip provides convenient access for owners & guests, making travel effortless while maintaining exceptional privacy. Opportunities to acquire nearly 5,500 contiguous acres with this combination of natural beauty, agricultural production, recreation, sporting heritage, infrastructure, & long-term development potential are extraordinarily rare. Whether preserved as one of Montana's great legacy ranches or thoughtfully envisioned for the future, this remarkable property offers the chance to own a truly iconic piece of the American West.

NNA Irvine Flats Road, Polson

Listing courtesy of Listing Agent: Zola Gray | Zola@TheDnZ.com from Listing Office: Epique Realty.

$40,000,000
5 Beds 2 Baths 411736 MLS
Held by the same family since 1871, the Chevallier Ranch represents one of Montana's rare legacy ranch offerings. Encompassing approximately 13,935 deeded acres together with 1,360 acres of State Lease ground, this all-contiguous holding combines productive agricultural land, exceptional wildlife habitat, live water, and outstanding recreational opportunities in one remarkable property. Located just 25 minutes from Helena, Montana's capital city, the ranch offers a rare balance of privacy, scale, and accessibility. Large ranches of this size seldom come to market, particularly those without a conservation easement, providing future ownership flexibility while preserving the ranch's working agricultural foundation and historic character. The ranch supports up to 700 AUs and includes approximately 650 acres of irrigated hay ground complemented by expansive native rangeland, rolling meadows, creek bottoms, timbered draws, and mountain terrain. Strong water resources and diverse landscapes support both livestock production and abundant wildlife. Elk, mule deer, whitetail deer, antelope, black bear, upland birds, and other native species frequent the property. Nearby recreation includes Great Divide Ski Area, Helena National Forest, the Continental Divide Trail, world-class fishing, boating, horseback riding, mountain biking, and snowmobiling. Historic improvements include the original ranch home built in 1890, the iconic Stone House, a ranch hand residence, bunkhouse, horse barn, newer shop, multiple barns, grain storage, sheds, windbreaks, and extensive pipe corrals supporting a well-equipped ranch operation. The Chevallier Ranch is a rare opportunity to acquire nearly 14,000 deeded acres of Montana history, productivity, recreation, and Western heritage in one of the state's most sought-after locations.

8950 Chevallier Drive, Helena

Courtesy of Tara Petersen with MT Ranch & Home Real Estate.

$40,000,000
5 Beds 2 Baths 30071904 MLS
Held by the same family since 1871, the Chevallier Ranch represents one of Montana's rare legacy ranch offerings. Encompassing approximately 13,935 deeded acres together with 1,360 acres of State Lease ground, this all-contiguous holding combines productive agricultural land, exceptional wildlife habitat, live water, and outstanding recreational opportunities in one remarkable property. Located just 25 minutes from Helena, Montana's capital city, the ranch offers a rare balance of privacy, scale, and accessibility. Large ranches of this size seldom come to market, particularly those without a conservation easement, providing future ownership flexibility while preserving the ranch's working agricultural foundation and historic character. The ranch supports up to 700 AUs and includes approximately 650 acres of irrigated hay ground complemented by expansive native rangeland, rolling meadows, creek bottoms, timbered draws, and mountain terrain. Strong water resources and diverse landscapes support both livestock production and abundant wildlife. Elk, mule deer, whitetail deer, antelope, black bear, upland birds, and other native species frequent the property. Nearby recreation includes Great Divide Ski Area, Helena National Forest, the Continental Divide Trail, world-class fishing, boating, horseback riding, mountain biking, and snowmobiling. Historic improvements include the original ranch home built in 1890, the iconic Stone House, a ranch hand residence, bunkhouse, horse barn, newer shop, multiple barns, grain storage, sheds, windbreaks, and extensive pipe corrals supporting a well-equipped ranch operation. The Chevallier Ranch is a rare opportunity to acquire nearly 14,000 deeded acres of Montana history, productivity, recreation, and Western heritage in one of the state's most sought-after locations.

8950 Chevallier Drive, Helena

Listing courtesy of Listing Agent: Tara Petersen | tara@MTranchandhome.com from Listing Office: MT Ranch and Home Real Estate.

$40,000,000
5 Beds 2 Baths 359680 MLS
The Chevallier Ranch is one of Montana's true legacy ranch holdings. Spanning approximately 13,935 deeded acres along with 1,360 acres of state lease ground, this all-contiguous operation combines productive hay land, native rangeland, live water, and remarkable natural beauty in one rare offering. Held by the same family since 1871, the ranch reflects generations of stewardship and pride of ownership that is evident throughout the property. Approximately 13,285 acres consist of native range, rolling meadows, creek bottoms, and mountain terrain, while roughly 650 acres of irrigated hay ground support the ranch's strong agricultural foundation. Large ranches of this scale, quality, and history rarely become available in Montana.

8950 Chevallier Drive, Other

Listing courtesy of Tara Petersen from MT Ranch and Home Real Estate

$32,000,000
30065874 MLS
If you’re seeking a prime development opportunity in Whitefish, this 14-acre property is ready to be transformed into something truly special. Whitefish Mountain views and 1,167 feet of Whitefish River frontage, this land offers a variety of commercial & residential opportunities. Approved for a mix of hotel, restaurant, residential & commercial spaces. Boutique hotel space ideal for attracting year-round & seasonal guests. Restaurant space offering dining with a view, a spot for both locals and visitors to enjoy. Residential space to build upscale living spaces. Commercial units in a great location for retail or office space perfectly blending residential charm with business opportunities. This property offers the potential for a variety of ventures. With incredible views and direct river access, this property is an investment that will stand out in one of Montana’s most sought after destinations.

95 Karrow Avenue, Whitefish

Listing courtesy of Listing Agent: Tracy Rossi | trossi@glaciersir.com from Listing Office: Glacier Sotheby's International Realty Whitefish.

$29,500,000
3 Beds 6 Baths 30071448 MLS
Running Elk Ranch is an extraordinary 986 acre legacy property located just north of Darby at the base of Montana's Bitterroot Mountains. Offering a rare combination of productive irrigated hay ground, forested acreage, wildlife habitat, and breathtaking mountain views, the ranch provides exceptional privacy while remaining conveniently close to area amenities. The ranch is highlighted by a custom 7,250 square foot residence completed in 2022 and thoughtfully positioned to capture sweeping views of the property and surrounding mountain ranges. Features include vaulted ceilings, custom beams and woodwork, oak flooring, granite countertops, expansive windows, wraparound deck, two wood-burning fireplaces, upper and lower-level bar areas, walkout basement, dual laundry areas, and an oversized six-car garage. Additional improvements include a 3,584 square foot updated ranch manager's home, a charming log hunting cabin with loft, full kitchen, two bathrooms, and wood stove, plus a remodeled guest home near the ranch entrance. The property also features a substantial 100' x 60' equipment and hay barn along with additional shop and storage facilities. Protected in part by a conservation easement, the ranch retains a valuable additional building envelope situated in a prime location with spectacular 360-degree views. Frequent elk and abundant wildlife, productive agricultural resources, multiple residences, and unparalleled scenery make Running Elk Ranch one of the premier offerings in the Bitterroot Valley.

246 Coal Mine Road, Darby

Listing courtesy of Listing Agent: April Jan Hawkes | april@flyinghawkes.com from Listing Office: Flying Hawkes Real Estate.

$29,500,000
3 Beds 6 Baths 30071443 MLS
Running Elk Ranch is an extraordinary 986 acre legacy property located just north of Darby at the base of Montana's Bitterroot Mountains. Offering a rare combination of productive irrigated hay ground, forested acreage, wildlife habitat, and breathtaking mountain views, the ranch provides exceptional privacy while remaining conveniently close to area amenities. The ranch is highlighted by a custom 7,250 square foot residence completed in 2022 and thoughtfully positioned to capture sweeping views of the property and surrounding mountain ranges. Features include vaulted ceilings, custom beams and woodwork, oak flooring, granite countertops, expansive windows, wraparound deck, two wood-burning fireplaces, upper and lower-level bar areas, walkout basement, dual laundry areas, and an oversized six-car garage. Additional improvements include a 3,584 square foot updated ranch manager's home, a charming log hunting cabin with loft, full kitchen, two bathrooms, and wood stove, plus a remodeled guest home near the ranch entrance. The property also features a substantial 100' x 60' equipment and hay barn along with additional shop and storage facilities. Protected in part by a conservation easement, the ranch retains a valuable additional building envelope situated in a prime location with spectacular 360-degree views. Frequent elk and abundant wildlife, productive agricultural resources, multiple residences, and unparalleled scenery make Running Elk Ranch one of the premier offerings in the Bitterroot Valley.

246 Coal Mine Road, Darby

Listing courtesy of Listing Agent: April Jan Hawkes | april@flyinghawkes.com from Listing Office: Flying Hawkes Real Estate.

$28,500,000
8 Beds 8 Baths 412437 MLS
Spanning an extraordinary 491± acres in the heart of Big Sky, this private mountain retreat is one of the region's most remarkable legacy properties, offering a combination of scale, privacy, and proximity that is virtually impossible to duplicate. Steeped in history, early 1900s logging roads weave throughout the property, providing year-round access for hiking, horseback riding, mountain biking, ATV adventures, and snowmobiling. In winter, the landscape transforms into a private Nordic paradise with miles of groomed cross-country ski trails winding through your own forest. Surrounded on three sides by Gallatin National Forest and protected conservation lands, the estate enjoys an exceptional level of permanent privacy while supporting an abundance of wildlife, including elk, moose, deer, bears, mountain lions, and bobcats. Perched atop a commanding ridgeline, the handcrafted Canadian cedar log residence was thoughtfully designed to capture breathtaking views of Lone Peak from nearly every west-facing room. Soaring timber beams, natural stone, and expansive walls of glass create a timeless mountain aesthetic while seamlessly connecting the home to its extraordinary surroundings. A full-length entertainment deck stretches across the western façade, providing the perfect setting to enjoy Montana's unforgettable sunsets and sweeping vistas of Lone Peak, the Madison Range, the Spanish Peaks, the Gallatin Range, and even Yellowstone National Park. A detached garage with beautifully finished caretaker's quarters above offers exceptional flexibility for guests, staff, or a private office, complementing the home's thoughtful design and enduring craftsmanship. Despite its remarkable seclusion, this estate is just 10 minutes from Big Sky Resort, Meadow Village, and Town Center, approximately one hour from Bozeman, and just over an hour from Yellowstone National Park. Properties of this caliber are extraordinarily rare. Combining nearly 500 acres of protected wilderness, iconic mountain views, exceptional recreational access, and one of Big Sky's most coveted locations, this is more than a home—it's an irreplaceable Montana legacy waiting for its next steward.

1320 Old Toby Road, Big Sky

Courtesy of Tory Cyr with Big Sky Sotheby's.

$25,000,000
6 Beds 6 Baths 30060189 MLS
Luxury Lake Front estate surrounded by Forest Service on 768+/- acres! This exceptional property features an 8200 +/- sq. ft. six bedroom, six bathroom, custom estate with every detail thoroughly thought out with impeccable attention to detail including a 1300+/- sq. ft. private guest house. Offered fully furnished and turnkey, a rare combination of master craftmanship and privacy that is very sought after. A once in a life time opportunity with 7.5 miles of private trails on 768+/- acres of pristine mountain timberland. Home was Built with entertaining in mind, gourmet kitchen, wood burning pizza oven, bar, steam room, hot tub, game room. This property includes 3 stall horse barn, 2 Large shops and garage. Ashley Lake Mountain Estate boasts 1,135 ft. of pristine glacier blue Ashley Lake frontage. Nestled on its own peninsula, the southern exposure and panoramic views from this location are second to none. A must see to truly capture the tranquility and scope of this stunning estate. It is recommended that all buyers and buyer's agents verify all information. This information is provided by outside sources and deemed reliable, but not guaranteed by listing agent

NHN N Ashley Lake Road, Kila

Listing courtesy of Listing Agent: Nuggett Carmalt | nuggett.carmalt@cbmp.com from Listing Office: Coldwell Banker Mountain Properties.

$25,000,000
6 Beds 6 Baths 30058209 MLS
Luxury Lake Front estate! This exceptional property features an 8200 +/- sq. ft. six bedroom, six bathroom, custom estate with every detail thoroughly thought out with impeccable attention to detail including a 1300+/- sq. ft. private guest house. Offered fully furnished and turnkey, a rare combination of master craftmanship and privacy that is rare and sought after. Built with entertaining in mind, gourmet kitchen, wood burning pizza oven, bar, steam room, hot tub, game room. A haven for outdoor enthusiast with 7.5 miles of private trails on 768+/- acres of pristine mountain timberland surrounded by Forest Service. This property includes 3 stall horse barn, 2 shops and garage for all your outdoor toys. Ashley Lake Mountain Estate boasts 1,135 ft. of pristine glacier blue Ashley Lake frontage. Nestled on its own point, the southern exposure and panoramic views from this location are second to none. A must see to truly capture the tranquility and scope of this stunning estate. It is recommended that all buyers and buyer's agents verify all information. This information is provided by outside sources and deemed reliable, but not guaranteed by listing agent

NHN N Ashley Lake Road, Kila

Listing courtesy of Listing Agent: Nuggett Carmalt | nuggett.carmalt@cbmp.com from Listing Office: Coldwell Banker Mountain Properties.

$25,000,000
2 Beds 1 Baths 30035353 MLS
Jefferson River Legacy Ranch is being offered for the first time, encompassing 2,850± acres with over a mile of coveted Jefferson River frontage. Held by the same family for six generations since the mid-1800s, this exceptional legacy property showcases sweeping views of the Bridger, Spanish Peaks, and Tobacco Root Mountain Ranges, along with lush creek bottom ground, irrigated hay meadows, and expansive native grass pastures. The ranch supports a thriving population of wildlife, including moose, elk, deer, antelope, and upland birds, with outstanding hunting and blue-ribbon trout fishing along the Jefferson River. Multiple premier building sites offer an ideal setting to construct a custom home designed to capture panoramic views and immediate access to world-class recreation. With excellent road access, just minutes from Three Forks and approximately 30 minutes from Bozeman, this is a rare opportunity to own a refined Montana ranch combining privacy, beauty, and convenience.

NHN Old Town Road, Three Forks

Listing courtesy of Listing Agent: Kimberly Lowry | klowry@fayranches.com from Listing Office: Fay Ranches.

$24,900,000
10 Beds 19 Baths 353486 MLS
Perched above Billings with commanding views of Yellowstone County and the Beartooth Mountains, this 30,000+ sq ft stone chateau is a legacy estate of unrivaled distinction. Built to commercial standards and inspired by the grandeur of a modern-day castle, the home offers 10 bedrooms, 15 full/4 half baths, guest quarters, a 14-car garage, and personal and commercial elevators. Curated for a life of luxury, amenities include three pools (one indoor), large water features, indoor shooting range, multiple kitchens, two-lane bowling alley, 3-hole golf course, multiple outdoor kitchens, tennis and volleyball courts, hiking trails, fully equipped gym/locker rooms, golf simulator, wine cellar and an opulent private theater. Finishes are of the highest caliber with advanced automation seamlessly blending comfort with sophistication, offering the ultimate Montana lifestyle.

5650 Canyonwoods Drive, Billings

Listing courtesy of Gregg ONeil from Berkshire Hathaway HS Floberg

$24,000,000
5 Beds 5 Baths 402275 MLS
Lolo Ranch is situated roughly 20 minutes south from Missoula, Montana’s second largest metropolitan area. Tucked at the base of the famed Bitterroot Mountain Range, the property has extensive water rights utilizing two irrigation pivots supporting a robust livestock operation. Access is exceptional with a paved highway providing close proximity to a full suite of services including commercial and private air transportation from Missoula’s newly renovated airport. Recreation is boundless, with millions of acres of public land directly adjacent to the property and unique access to several alpine lakes and the Lower 48’s largest wilderness complex. The Bitterroot River, flowing through the center of the valley, provides world class trout fishing only minutes from the ranch. There are numerous professionally designed ski runs in the higher elevations making winter skiing or summer mountain biking a private and exclusive experience. One of the largest herds of resident elk in the northern Bitterroot Valley call the ranch home. With its carefully crafted professional ski runs, adjacent access to millions of acres of public ground and proximity to a significant population center, Lolo Ranch has all the raw ingredients for a world-class destination or lifestyle development catering to an emerging class of residents looking for a recreation-centric lifestyle surrounded by spectacular scenery.

8337 Lamar Trail, Lolo

Courtesy of Deke Tidwell with Hall and Hall.

$24,000,000
5 Beds 6 Baths 30050213 MLS
Lolo Ranch is situated roughly 20 minutes south from Missoula, Montana’s second largest metropolitan area. Tucked at the base of the famed Bitterroot Mountain Range, the property has extensive water rights utilizing two irrigation pivots supporting a robust livestock operation. Access is exceptional with a paved highway providing close proximity to a full suite of services including commercial and private air transportation from Missoula’s newly renovated airport. Recreation is boundless, with millions of acres of public land directly adjacent to the property and unique access to several alpine lakes and the Lower 48’s largest wilderness complex. The Bitterroot River, flowing through the center of the valley, provides world class trout fishing only minutes from the ranch. There are numerous professionally designed ski runs in the higher elevations making winter skiing or summer mountain biking a private and exclusive experience.

8337 Lamar Trail, Lolo

Listing courtesy of Listing Agent: Deke Tidwell | dtidwell@hallandhall.com from Listing Office: Hall & Hall Partners LLP.

$23,500,000
4 Beds 4 Baths 404797 MLS
Located on the north shore of Ennis Lake in McAllister, Montana, this legacy property presents a rare opportunity to acquire just over 2,700+/- acres in one of Montana’s most desirable valleys. The offering combines lake frontage, agricultural production, equestrian infrastructure, conservation or development potential, and a fully operational commercial component. Showing by appointment only. A working ranch with residential, livestock, and infrastructure elements in place, Lost Heart Ranch anchors the entire offering. It is subdivided into 45 legal parcels, making if a great candidate for a conservation easement, possible development, and generational use. Includes 2,500± SF 4BD/3BA main residence (1994), 2,400± SF equipment shop with attached 2BD/1BA residence (2004), 3,100± SF livestock barn, and 1400± feet of lake frontage. A rare, turnkey 23.18 acre equestrian facility located on the lake, this component of the offering includes a 6,344+/- SF luxury home with a pool, lake frontage, and full horse infrastructure. The commercial asset of this property, Lake Shore Lodge offers a strong base for hospitality, storage, and lakefront access with expansion potential. Features 42 full-service RV sites (50 amp), office/store and bathhouse with laundry, 3 dry cabins and 3 additional 4 season rental cabins, room for employee housing, marina with 10 docks and seawall. 2 drain fields and 7 holding tanks with room for expansion. Excellent potential for income generation or private estate repurposing. With panoramic views in every direction—Lone Peak to the east, the Centennial Mountains to the south, and the rugged Tobacco Root Mountains to the west—the property features diverse topography including productive pasture, riparian corridors, and juniper-covered hillsides. Comprising three primary components—Lost Heart Ranch, Lake Shore Equestrian Estate, and Lake Shore Lodge—this property supports year-round ranching, recreation, and income generation, all just minutes from Ennis and under an hour to Bozeman.

Lost Heart Ranch 234 N Ennis Lake Road, Mcallister

Courtesy of Chris Murphy with Benchmark Real Estate Brokers.

$21,000,000
401887 MLS
Misty Creek Ranch, a rare jewel nestled in the beauty of Montana's pristine landscape. As you enter the 241 acre community, a winding paved road meanders through towering trees and over the gentle flow of South Cottonwood Creek. Ascending a gentle hill, past the historic granary, the landscape unfolds, revealing panoramic vistas of majestic mountains and sprawling valleys. This land has long served as a habitat for elk and a historical calving site while whitetail deer, native fish, turkeys, mule deer, and a variety of native birds add to the splendor. Your horses and livestock needs are accounted for with a barn, sheds, and a corral. A 3800 sq. ft. guest house is a testament to comfort and convenience. Perfectly located, Misty Creek Ranch is just 20 minutes to downtown Bozeman, 30 minutes to the international airport, and 40 minutes to Big Sky world-class resort. With its unparalleled beauty and boundless potential, this Montana jewel awaits, ready to welcome you home.

13830 (Tract A-D) Cottonwood Road, Bozeman

Courtesy of Jill Pike with PureWest Real Estate Bozeman.

$19,995,000
3 Beds 3 Baths 30070283 MLS
Whitefish Lake Dream! Swift Eagle Ranch is one of the most extraordinary legacy offerings on Whitefish Lake. Spanning 35 acres with 550+ feet of pristine lake frontage, this property rests at the headwaters, capturing sweeping southern-facing views across the water. Swift Creek traces the property’s north and east edges, flowing toward a serene pebble beach and creating a calm lakeside setting. Lush, tree-lined meadows, spring-fed ponds, winding streams, and mature forested grounds shape a landscape that feels both private and timeless. The centerpiece of the property is an authentic Swedish cope log home, complemented by a beautifully renovated two-bedroom guest residence. Rich wood accents throughout the main home capture authentic Montana character and are highlighted by a spacious great room with a dramatic stone fireplace, an inviting island kitchen, and a generous dining area. The primary suite offers superior views of both the lake and creek, while the upper level includes two additional bedrooms. The newly updated guest home provides luxurious accommodations for family and friends. With a 10-bedroom sanitation allowance, the estate offers opportunities for future expansion or additional structures. Outdoor amenities include a deep-water mooring dock with electrical service and boat lift, an equestrian training arena in the meadow, and nearly half a mile of Swift Creek, a major tributary to Whitefish Lake, perfect for easy-access fly fishing. All just 20 minutes to downtown Whitefish, Whitefish Mountain Resort, and 40 minutes to Glacier Park International Airport, Swift Eagle Ranch embodies the ultimate Whitefish Lake retreat, an irreplaceable legacy property of unmatched scale, beauty, and privacy for future generations to come.

405 Delrey Road, Whitefish

Listing courtesy of Listing Agent: Matt L Buckmaster | matt@purewestmt.com from Listing Office: PureWest Real Estate - Whitefish.

$19,988,888
30026154 MLS
AMAZING OPPORTUNITY to develop these 2.8 Acres in Whitefish Montana. Consisting of three (see MLS#30025899) adjacent parcels all Offering high visibility on the new highway 93 entrance into town. These parcels also border the new Whitefish Yards to the north, a new mixed-use development with residential, commercial, restaurant, brewery and hotel. Bike and walking paths right to historic downtown, city beach, and the golf course all just minutes away. A short drive makes hitting Whitefish Mountain Resort or Glacier National Park just as easy. There are not very many opportunities like this so close to the heart of Whitefish so take advantage of the zoning options and create your own mixed-use development.

438 W 2nd Street, Whitefish

Listing courtesy of Listing Agent: Keven Phillip Guercio | keven@purewestmt.com from Listing Office: PureWest Real Estate - Whitefish.

$19,988,888
30026155 MLS
AMAZING OPPORTUNITY to develop these 2.8 Acres in Whitefish Montana. Consisting of three (see MLS#30026154 and 30025899) adjacent parcels all Offering high visibility on the new highway 93 entrance into town. These parcels also border the new Whitefish Yards to the north, a new mixed-use development with residential, commercial, restaurant, brewery and hotel. Bike and walking paths right to historic downtown, city beach, and the golf course all just minutes away. A short drive makes hitting Whitefish Mountain Resort or Glacier National Park just as easy. There are not very many opportunities like this so close to the heart of Whitefish so take advantage of the zoning options and create your own mixed-use development.

514 W 2nd Street, Whitefish

Listing courtesy of Listing Agent: Keven Phillip Guercio | keven@purewestmt.com from Listing Office: PureWest Real Estate - Whitefish.

$19,988,888
30025899 MLS
AMAZING OPPORTUNITY to develop these 2.8 Acres in Whitefish Montana. Consisting of three (see MLS#30026154 & 30026155) adjacent parcels all Offering high visibility on the new highway 93 entrance into town. These parcels also border the new Whitefish Yards to the north, a new mixed-use development with residential, commercial, restaurant, brewery and hotel. Bike and walking paths right to historic downtown, city beach, and the golf course all just minutes away. A short drive makes hitting Whitefish Mountain Resort or Glacier National Park just as easy. There are not very many opportunities like this so close to the heart of Whitefish so take advantage of the zoning options and create your own mixed-use development.

424 W 2nd Street, Whitefish

Listing courtesy of Listing Agent: Keven Phillip Guercio | keven@purewestmt.com from Listing Office: PureWest Real Estate - Whitefish.

$19,900,000
397891 MLS
The Schmidt Ranch offers an unparalleled recreational retreat just 10± minutes from downtown Bozeman, Montana. Spanning 1,598± deeded acres, this property captures the essence of Montana’s rugged beauty with rolling aspen hills, evergreen forests, meadows, and creeks, all with breathtaking views of the Bridger Mountain ridgeline to the north, along with sweeping 360-degree mountain views that complete this scenic landscape. Of the deeded acres, 1,236±-acres are protected under conservation easement with the Gallatin Valley Land Trust, ensuring a legacy of preservation. This easement allows for division into four parcels, each a minimum of 160 acres. Four building envelopes each support the construction of four single-family residences, with four additional guest or caretaker houses, which are ideal for creating your dream retreat or primary residence. The remaining 362± acres outside the easement currently features a modest single-family home built in 1984 with three bedrooms, one bathroom, a half bathroom, and a shed and garage. The Schmidt Ranch is a haven for wildlife enthusiasts, featuring abundant deer, elk, bear, moose, and diverse bird species. The property borders a mile of Forest Service land, expanding access to outdoor adventures, including hunting, fishing, hiking, cross-country skiing, and rock climbing. Strategically located near Kelly Canyon, Moffit Gulch, and Trail Creek Roads, the ranch is just 10± minutes from Bozeman’s amenities, 20± minutes from Bridger Bowl Ski Area, and only 1.5± hours from Yellowstone National Park’s north entrance. The Schmidt Ranch provides a unique opportunity to enjoy natural beauty and abundant recreation close to Bozeman, all within the serenity of a private retreat.

495 Moffit Gulch Road, Bozeman

Courtesy of Jeff Eshbaugh with Altitude Real Estate, LLC.

$19,900,000
397752 MLS
The Schmidt Ranch offers an unparalleled recreational retreat just 10± minutes from downtown Bozeman, Montana. Spanning 1,598± deeded acres, this property captures the essence of Montana’s rugged beauty with rolling aspen hills, evergreen forests, meadows, and creeks, all with breathtaking views of the Bridger Mountain ridgeline to the north, along with sweeping 360-degree mountain views that complete this scenic landscape. Of the deeded acres, 1,236±-acres are protected under conservation easement with the Gallatin Valley Land Trust, ensuring a legacy of preservation. This easement allows for division into four parcels, each a minimum of 160 acres. Four building envelopes each support the construction of four single-family residences, with four additional guest or caretaker houses, which are ideal for creating your dream retreat or primary residence. The remaining 362± acres outside the easement currently features a modest single-family home built in 1984 with three bedrooms, one bathroom, a half bathroom, and a shed and garage. The Schmidt Ranch is a haven for wildlife enthusiasts, featuring abundant deer, elk, bear, moose, and diverse bird life. The property borders a mile of Forest Service land, expanding access to outdoor adventures, including hunting, fishing, hiking, cross-country skiing, and rock climbing. Strategically located near Kelly Canyon, Moffit Gulch, and Trail Creek Roads, the ranch is just 10± minutes from Bozeman’s amenities, 20± minutes from Bridger Bowl Ski Area, and only 1.5± hours from Yellowstone National Park’s north entrance. The Schmidt Ranch provides a unique opportunity to enjoy natural beauty and abundant recreation close to Bozeman, all within the serenity of a private retreat.

495 Moffit Gulch Road, Bozeman

Courtesy of Jeff Eshbaugh with Altitude Real Estate, LLC.

$19,500,000
4 Beds 3 Baths 413241 MLS
Yonder Ridge Ranch is 282± acres of secluded Gallatin Valley ranchland, just 12 miles from Bozeman. Offered for the first time in more than 50 years, it's one of the largest unencumbered holdings, free of covenants, deed restrictions, zoning, and conservation easements, to reach the tightly held Bozeman market. The ranch combines irrigated hay ground, open pasture, and timbered creek bottoms, with strong water rights and views of the Spanish Peaks, Gallatin Range, and Bridger Range. It's also great wildlife country with elk, mule deer, whitetail, and upland birds, including a winter and spring herd of several hundred elk that graze the ranch. Land like this doesn't come along often, and for the family that's held it for half a century, it's been more than just ground to run cattle on. A well-built home and outbuildings anchor the property, sheltered on three sides by Yonder Ridge, Harry's Hill, and a raised bench above the Cottonwood Creek bottoms. The ranch sits twenty minutes from Bozeman Yellowstone International Airport and thirty minutes from Big Sky, and suits a working agricultural operation, a private retreat, or an equestrian estate. For the right buyer, it's a chance to put down the same kind of roots. 282± acres in Bozeman, Montana, with dramatic views of the Spanish Peaks, Gallatin Range, and Bridger Range. 140 cropped acres, 140 irrigated and historically farmed in alfalfa, grain, and grass, plus 142± acres of pasture supporting 42 cow/calf pairs or 252 AUMs across a 6-month grazing season. Five recorded water rights including a ¾ share in the West Gallatin Canal Company, with priority dates ranging from 1867 to 1909. Wortman Creek, Trail Creek, and Yonder Creek wind through the property; the West Gallatin Canal forms the northwest boundary, with ditches delivering water throughout. Improvements include a 3,467± square-foot, 4-bedroom, 2.5-bathroom home extensively renovated and expanded in 2012, a 595 square-foot detached two-car garage, and a 1,237± square-foot heated shop and shed. Significant wildlife, including a large winter and spring elk herd, plus mule deer, whitetail, grouse, waterfowl, cranes, and eagles. No conservation easement, deed restrictions, covenants or zoning; just 5 minutes to Gallatin Gateway, 15 minutes to Bozeman, 20 minutes to the airport, and 30 minutes to Big Sky.

15816 Cottonwood Road, Bozeman

Courtesy of Jim Toth with Western Ranch Brokers LLC.

$18,750,000
408280 MLS
Spanning 805± acres and situated in an area rich with homesteading history, the property lies near the original Reese Creek settlement, one of the first agricultural communities in the Gallatin Valley. This historic ranch offers a combination of productive dryland agriculture, significant development flexibility, and unencumbered views of the Bridger Mountains. The landscape is a classic Montana tapestry of cultivated cropland interspersed with native grasses, draws, and pockets of cover. The ranch serves as a sanctuary for area wildlife. The diverse terrain and agricultural food sources support healthy populations of Hungarian partridge, pheasant, white-tailed deer, and antelope. The backdrop is defined by the dramatic peaks of the Bridger Mountain Range to the east and the Spanish Peaks to the south, offering postcard-quality vistas from nearly every vantage point on the ranch. Today, it offers the ultimate balance of rural solitude and urban convenience. Located just minutes from Bozeman-Yellowstone International Airport yet world's away in privacy, the property represents one of the largest remaining contiguous landholdings in the Belgrade area.

TBD Reese Creek Road, Belgrade

Courtesy of Erica Heinrich with Keller Williams Montana Realty.

$18,500,000
6 Beds 6 Baths 407786 MLS
One&Only Moonlight Basin Private Home #50 offers a refined mountain sanctuary defined by architectural excellence and immersive natural beauty. Designed by Olson Kundig, the home reflects a deep respect for its alpine setting through thoughtful materials, orientation, and form. With approximately 5,676 square feet of living space, this six-bedroom residence features expansive interiors bathed in natural light, complemented by warm textures and elevated finishes. Floor-to-ceiling windows frame sweeping views of the surrounding peaks, creating a constant connection to the landscape. The home’s open layout flows seamlessly to outdoor terraces and gathering spaces, ideal for entertaining or enjoying moments of solitude beneath Montana’s vast skies. Every detail is designed to support both everyday comfort and elevated living. Located within the exclusive One&Only Moonlight Basin enclave, this residence offers access to a world of curated amenities, adventure, and personalized service.

#50 One&Only Private Home 30 Kettle Hill Trail, Big Sky

Courtesy of Kevin Germain with The Big Sky Real Estate Co..

board logoIDX information provided courtesy of the Montana Regional MLS, LLC. IDX information is provided exclusively for consumers' personal, non-commercial use, and it may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data is deemed reliable but is not guaranteed accurate by the MLS.