Cove Ranch

Property Map

Cove Ranch - Recently Sold

$13,500,000
Sun Valley, Idaho

Named for the secluded circular valley it encompasses, Cove Ranch is one of the Wood River Valley’s reputation properties comprising 4,636± deeded acres along with approximately 8,500 acres of adjoining federal and state grazing lands. The ranch is conveniently located 25 miles south of the resort community of Ketchum/Sun Valley, midway between the commercial airport serving the Wood River region and The Nature Conservancy’s well-known trout fishing preserve on Silver Creek.

Steep, open hillsides of the Pioneer Mountains flank the property and provide a dramatic backdrop to the ranch’s productive agricultural fields and pastures. The ranch produces alfalfa and grass hay on approximately 1,300 acres using an integrated sprinkler irrigation system consisting of three pivots and multiple wheel-lines. The ranch’s surface and ground water rights are among the best in the Wood River Valley and position an owner to take advantage of a developing regional water market. Under current management, the ranch also supports a 200-head seasonal grazing operation that utilizes the property’s deeded rangelands and an adjoining Bureau of Land Management grazing allotment and State of Idaho grazing lease.

The main ranch compound is located within the interior of the property and home to a set of functioning residential dwellings and agricultural improvements. Included in the main compound are four homes surrounded by mature aspen and fir trees, including a 2,463± sq. ft. owner’s residence built in the mid-1960s and remodeled in the 1970s, with two bedrooms and two baths. There is a second, smaller building area east of the main compound with two homes, one of which has an attached, heated kennel facility built by the previous owner who was involved with raising and training show-quality pointing dogs. Other than the owner’s residence, the homes on the ranch are either used by ranch employees or rented to private tenants on an ongoing basis. Ranch structures include a workshop/machine repair building with vehicle storage, corrals with squeeze chute, hay barn, cattle scales, loafing sheds, and livestock pens. The ranch is serviced by buried power and telephone lines.

Given its size and undeveloped setting, Cove Ranch is recognized as one of the most important wildlife properties in the Wood River Valley. Irrigated fields give way to native grasslands, sagebrush hillsides, rocky ridgelines, brushy draws, and numerous spring sites. These areas provide prime habitat for elk, mule deer, pronghorn, sage grouse, chukar partridge, and dove throughout the seasons. Blaine County officials approved a development plan for the property in 2010. With these entitlements in place, an owner who is interested in preserving the property’s wildlife habitat and open space values could expect to maximize financial benefits through the potential gift or sale of a conservation easement.

Acreage: 
  • 4,636± deeded acres and 8,500± acres of associated federal and state grazing lands
The Facts: 
  • Currently the largest ranch for sale in the Sun Valley area with 4,636± deeded acres and 8,500± acres of associated federal and state grazing lands
  • Secluded setting encompassing its own private valley
  • 25 miles from Ketchum/Sun Valley and 10 minutes from the airport
  • Easy, year-round access on paved county roads
  • Functional residential and ranch improvements
  • Producing alfalfa on 1,300± acres using superior surface and subsurface water rights with additional revenue from seasonal grazing
  • Development plan in place providing for excellent conservation easement opportunities
  • Important wildlife property with extensive habitat for elk, mule deer, pronghorn, sage grouse, and chukar
Additional Services: 

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.

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.

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.

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.

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

Disclaimer: 

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; an
  • 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.

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. 

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, 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.