Lost Peaks Ranch

Property Map

Lost Peaks Ranch

Chilly, Idaho

This rare “inholding” ranch is surrounded by public lands 35 miles northeast of Sun Valley over Trail Creek Pass. Consisting of 731± deeded acres, the property sits at the base of 10,000-foot Jerry Peak adjacent to the recently designated Jim McClure-Jerry Peak Wilderness Area and offers panoramic views of the upper Lost River Valley and the massive Lost River Range, which encompasses the state’s highest peaks. The ranch is completely private and provides direct access to some of the best big game hunting in the state. Given its size, the ranch qualifies for tags through the state’s Landowner Appreciation Program to hunt deer, elk and antelope in the area. Top notch fishing for rainbow and cutthroat trout is only minutes away on the Big Lost River and its tributaries, while good chukar populations ensure steady action in the foothills surrounding the ranch. Improvements include a 2-bedroom log hunting cabin with phone and power, metal barn, corrals, and 2 log bunkhouses. Irrigated pasture and an adjacent 114-head BLM summer grazing permit support a seasonal livestock operation.


Lost Peaks Ranch is located in the upper Lost River Valley approximately 35 miles northeast of the resort community of Ketchum/Sun Valley and 25 miles northwest of the ranching community of Mackay. Access from Sun Valley is a 50-minute drive via Trail Creek Pass from approximately May through November. As mountain snowfall begins to accumulate late in the year, Trail Creek Pass closes until spring and access involves driving through Mackay via US Highway 93 to Trail Creek Road.

Friedman Memorial Airport (SUN) in Hailey, 15 miles south of Ketchum/Sun Valley, is the nearest commercial airport and offers regular air service on Delta/Skywest (Delta) and Horizon (Alaska) Airlines. Friedman is also home to a fixed base operation, Atlantic Aviation, which provides a full range of general aviation services. Idaho Falls, approximately two hours southeast of the ranch, provides alternate commercial air service from Idaho Falls Regional Airport (IDA) on Skywest and United. Mackay is home to a 4,400’ x 60’ asphalt airstrip capable of accommodating larger twin-engine aircraft. 


The massive Lost River Range flanks the east side of the valley and spans over 70 miles from Arco to Challis. The Lost Rivers claim seven of Idaho’s ten peaks over 12,000 feet, including Mt. Borah, the state’s highest peak at 12,662 feet, which frames the view eastward from the ranch. Two other formidable mountain ranges, the Pioneers and Whiteknobs, extend west from the valley all the way to Ketchum/Sun Valley offering incredible vistas and miles of roadless backcountry to explore.

The Big Lost River originates from high mountain tributaries and meanders east and then south through the valley, providing irrigation water for farms and ranches as well as outstanding trout fishing opportunities. 

Sun Valley, Ketchum and the other Wood River Valley communities of Hailey and Bellevue are an easy drive from the property and offer a multiplicity of summer and winter activities, including golf, hiking, fly fishing, cycling, and world-class downhill and Nordic skiing. One will also find there numerous gourmet restaurants, art galleries, shopping opportunities, and cultural events to enjoy.

Mackay, population 565, lies at the heart of the Lost River Valley and serves as the local service and social center. It is an agriculturally based community, although its roots go back to the mining days in the early 20th century. All general amenities can be found in Mackay, including groceries, fuel, restaurants, and ranch and hardware providers. 

General Description: 

Lost Peaks Ranch is a secluded recreational ranch that offers complete privacy in a “big sky” mountain setting. The ranch is an “inholding” surrounded by federal lands managed by the Bureau of Land Management (BLM) and state lands managed by the Idaho Department of Lands. The property lies at the base of 10,000-foot Jerry Peak and offers direct access to the recently designated Jim McClure-Jerry Peak Wilderness Area encompassing 117,000 acres of BLM and national forest lands due west of the ranch. The county road ends at the ranch gate, and there is no public access through the property. A jeep trail, which is controlled by the ranch, extends from the property onto BLM lands and traverses west up Howell Canyon to Howell Spring, an excellent jumping-off point to explore Jerry Peak and the highlands surrounding the ranch. 

Comprised of two parcels that adjoin at a section corner, the ranch is two and a half miles in length from east to west and one mile wide from north to south. The granite peaks of the Lost River Range lie due east across the valley and provide a breathtaking backdrop that must be seen to be believed. Improvements are located in the center of the property at the mouth of Howell Canyon and overlook the ranch’s irrigated pastures that comprise the eastern end of the ranch. Buildings are older but functional and include a cozy two-bedroom/one-bath log hunting cabin with kitchen, living room, and wood-burning stove, two log bunkhouses, a metal barn/storage building with concrete floor, and log corrals. The ranch enjoys both electrical and telephone service. Satellite service is also available for this area from multiple providers. A spring located west of the buildings provides domestic water to the cabin and stock water to the corrals. 


The elevation of the ranch improvements is approximately 6,950 feet. The climate for the upper Lost River Valley is best described as semi-arid with annual precipitation of approximately 10 inches and over 300 sunny days per year. Summer temperatures at this altitude are close to ideal with highs reaching the 80s and then cooling to the mid-40s at night. Winters can be cold, although the series of mountains to the west often create a moisture barrier, resulting in relatively open winters with little snow pack on the valley floor.

General Operations: 

The owners manage Lost Peaks Ranch for hunting and other recreational pursuits as well as for summer livestock grazing. The ranch holds a BLM grazing permit to run 114 cattle on the Sage Creek Allotment (estimated to cover 6,000 acres) from May 16 until September 30 of each year for a total of 517 animal unit months (AUMs). The ranch also holds a grazing lease with the State of Idaho to run cattle on 640 acres of state land that adjoin the ranch. Under an exchange of use agreement between the State and BLM, these state lands are incorporated into and operated as part of BLM’s Sage Creek Allotment, providing an additional 63 AUMs and enabling the grazing permittee to run an additional 14 head of cattle for a total number of 128. A neighboring rancher utilizes the grazing permit and state grazing lease in conjunction with his year-round cattle operation by leasing a base portion of Lost Peaks Ranch. The owners lease the irrigated pastures to a separate individual to run horses and a small number of cattle for the season. 

Water Resources: 

The ranch holds three licensed irrigation rights to irrigate a total of 213 acres between May 1 and October 15. The total diversion rate associated with these rights is 8.0 cubic feet per second. The ranch also holds a domestic right and three stock water rights. 

Recreational Considerations: 

Rivaling its better known neighbor to the west, Sun Valley, the upper Lost River Valley offers stunning scenery and a variety of high quality outdoor recreation opportunities. Trout fishing, wingshooting, big game hunting, horseback riding, mountain bike riding, backcountry skiing, hiking, and wildlife viewing can all be outstanding and enjoyed either on or a short distance away from Lost Peaks Ranch. 

An array of wildlife utilizes the ranch and the surrounding mountains, ridgelines, foothills, and grasslands throughout the year. Elk are plentiful, and many experienced Idaho hunters refer to Jerry Peak as the best elk hunting in the state. Mule deer and antelope are also prominent game species in the area. Because of its size, the ranch qualifies for the state’s Landowner Appreciation Program to hunt deer, elk, and antelope in the area. Coveys of chukar partridge reside on nearby hillsides and rock outcroppings, while blue grouse are common on higher elevation US Forest Service lands. Ducks and geese take advantage of numerous springs in the area, including the Thousand Springs/Chilly Slough wetlands complex that lies several miles east of the ranch. This area is also home to numerous non-game species, including a variety of hawks, falcons and other raptors as well as wild horses that roam the surrounding Challis Wild Horse Range. 

Only minutes away from the ranch is the Big Lost River, a mid-sized freestone stream that originates high in the Pioneer and Boulder Mountains and runs the length of the Lost River Valley before disappearing into the lava flows southeast of Arco. Long known to locals for its outstanding fishing, the “Lost” has become a destination for anglers from across the region and is frequented on a daily basis by Sun Valley fishing guides. Quality reaches of the Big Lost are located a quick drive from the ranch, and public access is available throughout the upper river on BLM and US Forest Service lands. The lower river below Mackay Reservoir is renowned as a top quality tailwater fishery with a reputation for producing big rainbows. It is also one of central Idaho’s best winter fishing locations. In addition to stream fishing on the Big Lost and its tributaries, the area offers over 100 alpine lakes, many of which provide excellent trout fishing opportunities. Most of these mountain lakes are found at elevations between 9,000 and 10,500 feet and offer exceptional views, wildlife viewing, and hiking opportunities. 

Only 35 miles southwest of the ranch, Ketchum/Sun Valley offers a variety of world-class, year-round outdoor recreation pursuits. Winter activities include downhill skiing on famous Bald Mountain and cross-country skiing, snowshoeing, and snowmobiling on the area’s extensive winter trail network. During the summer and fall, the area’s diverse topography offers unparalleled trout fishing, upland and big game hunting, hiking, cycling, and backpacking. 


Annual property taxes are approximately $1,070.

Broker Comments: 

Tucked away in its own private canyon encircled by public lands several miles from the nearest neighbor, Lost Peaks Ranch is a true end-of-the-road hideaway. Whether one’s chosen pursuit is big game hunting, wingshooting, fishing, hiking, trail riding, working and moving cattle on horseback, or just sitting back and enjoying the panoramic views of the Lost River Valley, Lost Peaks represents the chance to put aside the rigors of one’s daily life and enjoy the natural wonders of this remarkable western landscape. Although the ranch feels a world away, it is within a reasonable distance to Mackay for basic provisions or Ketchum/Sun Valley for a variety of entertainment, restaurants and retail options. 

The Facts: 
  • 731± deeded acres surrounded by public lands
  • Located 35 miles from Sun Valley and 22 miles from Mackay, Idaho
  • Completely private setting with panoramic mountain views
  • Some of Idaho’s best hunting and fishing is found in the surrounding area, and the ranch is eligible for Landowner Appreciation Program hunting tags
  • Improvements include a hunting cabin, barn and corrals
  • With irrigated and fenced pastures, the ranch is ideal for horses, while a contiguous BLM permit supports seasonal cattle grazing
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, Jerome Chvilicek, Dan Berstrom or Brant Marsh at (406) 656-7500 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, Dan Bergstrom or Brant Marsh at (406) 656-7500 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
Tina Hamm or Scott Moran • (406) 656-7500 
Mike Hall or Judy Chirila • (303) 861-8282
Monte Lyons • (806) 698-6882
J.T. Holt • (806) 698-6884


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.