Steeped in the history of the American West lies the N Bar Ranch spanning more than 60,000 contiguous acres in the foothills of central Montana’s Snowy Mountains, 100 miles north of Billings, Montana. The N Bar Ranch lies in a fertile transitional zone between mountains and prairie, making it home to an exceptional number and variety of world-class Rocky Mountain wildlife. This rich landscape with rolling timber, lush bottomlands, meandering riparian corridors and water resources makes the N Bar one of the premier operating and sporting ranches in the West. The uncommon versatility of the land and its resources supports a proven, highly functional year-round operation of 2,000 animal units. The ranch has demonstrated consistent financial performance, with profits reinvested into ranch improvements. By any measure, the N Bar Ranch defines investment-quality rural real estate. For additional information, please visit the
N Bar Ranch website at:
N Bar Ranch
The N Bar Ranch is 90 miles north from Billings and west of US 87 North. Access to US 87 North in the Billings Heights occurs at the Roundup turn-off, at the intersection of US 94 East and US 87 North. Take US 87 North through the small town of Roundup, Montana and continue traveling north another 22 miles, turning west onto the graveled Flatwillow Creek Road. The N Bar Ranch headquarters are located 19 miles from US 87 North on this county road.
Major air service is available through Logan International Airport in Billings.
The N Bar Ranch is conveniently located 35 miles southeast of Lewistown, Montana in the heart of the Snowy Mountains. Lewistown, with a population of 6,000, is an agricultural community located at the geographic center of Montana in the vast Judith Basin. The town features many well-preserved historic buildings and homes. Although the countryside is mostly rolling prairie dotted with farms and ranches, the Lewistown area also features five beautiful mountain ranges. The Snowies, Judiths, Moccasins, Belts, and the Highwoods all provide grand vistas in each direction. Picturesque landscapes, mountain terrain, and this small, quiet town typify the area.
Deeded Acres 51,409 BLM Leased Acres 4,875 Montana Leased Acres 1,920 Private Leased Acres 3,887 Total acreage 62,091 (All acreage is approximate.)
The N Bar Ranch lies in a fertile transitional zone between mountains and prairie, making it home to a wide variety of Rocky Mountain wildlife. This rich landscape, abundant with wildlife, makes the N Bar one of the finest and most diverse sporting ranches in Montana.
Healthy brown trout thrive in the cool waters of Flatwillow Creek, which is a particularly rare and unique resource in an area of Montana that hosts very few cold-water fisheries. Deer and elk herds populate the upper timbered reaches of the ranch. Lower, more temperate areas provide the ideal habitat for large numbers of antelope, pheasant, wild turkey, and other upland game birds. The riparian corridor running through the Flatwillow Creek Valley boasts an incredible array of other birds and non-game wildlife species.
The elk herds that roam the N Bar Ranch are nearly without equal in North America. High-quality forage, mineral-laden food sources, limited hunting, and outstanding native genetics combine to support a vast population that includes an impressive number of “trophy” animals with bulls that qualify for record-book status. Approximately 1,900 head of elk from three distinct herds have been counted on the property, thriving in the ranch’s dark stands of north-facing Douglas fir that give way to ridges of scattered Ponderosa pine, stands of aspen and grassy meadows that descend from the high country into bottomlands succulent with forage.
Abundant populations of whitetail and mule deer also graze the N Bar Ranch, as do antelope whose numbers include some specimens of trophy size. Pheasant, Hungarian partridge, and sharptail grouse flourish in the ranch’s extensive upland game bird habitat, with mountain grouse in the higher elevations.
The N Bar traces its roots to the celebrated range cattle era of the American West. In 1878, just two years after General Custer met his demise at the Battle of the Little Big Horn, two brothers—Zeke and Henry Newman—left Nebraska with a contract in hand to provide meat for the Indian reservations, and trailed 12,000 N Bar-branded cattle to Montana.
In 1885, Tom Cruse, an Irish immigrant who made his fortune in the gold fields around Helena, Montana bought the Montana Sheep Company including the 2,842 acres along Flatwillow Creek where the N Bar Ranch headquarters are now located. The legendary, brutal winter of 1886 -1887—which forever changed the open range cattle industry—forced the Newman brothers out of business, and Cruse bought the Newmans’ remaining herd and the N Bar brand. Over the next 25 years, Cruse built a cattle empire stretching from the lands of the N Bar Ranch over 100 miles east to Jordan, Montana.
Anton Holter, a Norwegian immigrant and businessman who made his fortune on the Montana frontier, led a group of prominent local investors who bought the N Bar Ranch from Tom Cruse in 1913, a year before his death. Holter and his family joined by the Milburn brothers in 1930—owned N Bar Ranch for 50 years.
Under the vision and stewardship of Jack Milburn the N Bar Ranch evolved into a modern, world-class cattle operation. The ranch grew from 10,000 to 40,000 deeded acres and its reputation was established through the N Bar line of purebred Aberdeen Angus cattle. Milburn also instituted an annual cattle sale at the ranch, which solidified the N Bar’s brand and reputation and integrated the ranch into the fabric of the community as well as the culture of the region.
The N Bar Ranch, consisting of approximately 51, 409 acres of deeded land, 4,875 acres of BLM lease, 1,920 acres of State of Montana lease and 3,887 acres of Private lease including all water and mineral rights, as described herein, is offered at $45,000,000 Cash under the following terms and conditions:
1. All offers to purchase must be in writing and accompanied by an earnest money deposit in the amount of $2,000,000.00 to be held in trust by: North American Title Company, 330 Primrose Road, Suite 600, Burlingame, CA 94010 Attn: Annette Ross;
2. Each offer must also be accompanied with the name and telephone number of the Purchaser's private banker to assist the Seller and its agents in ascertaining the Purchaser's financial ability to consummate a purchase;
3. The earnest money deposit shall be placed at interest with the interest accruing to the benefit of the Purchaser until closing;
4. The Seller shall provide and pay for an owner's title insurance policy. Title to the real property shall be conveyed by warranty deed;
5. Personal property may be offered for sale at the Seller's sole discretion. If the Seller and Purchaser agree to the terms of sale of the personal property, said property shall be transferred by a bill of sale;
6. All of the N Bar Ranch's water rights shall be transferred to the Purchaser (subject to the adjudication by the State of Montana) and all of the mineral rights which the Seller actually owns shall be conveyed to the Purchaser at closing;
7. The Seller reserves the right to affect a tax-deferred exchange for other real property in accordance to Section 1031 of the Internal Revenue Code with no additional cost or liability to the Purchaser;
8. All other terms and conditions shall be subject to Seller's approval in its sole discretion.
This offering is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by the 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 purchasers should verify all information to their own complete and sole satisfaction. Prospective purchasers should also be aware that the photographs in this brochure may have been digitally enhanced.
COOPERATING BROKERS ARE WELCOME TO PARTICIPATE. Please contact a Hall and Hall office for information regarding the cooperating broker's policy on this listing.
The N Bar Ranch enjoys an extraordinary natural setting. It lies at an elevation of 4,200 to 5,500 feet in the grassy foothills rising to the northeast slopes of the Snowy Mountains. The ranch enjoys a combination of ideal climate and geography found in few locations in Montana. Thanks to its topography and weather patterns, the N Bar Ranch receives a relatively consistent average of 15 to19 inches of rain per year, and high-quality soil retains moisture well into the growing season, which runs approximately 125 days in the lower meadows.
N Bar Ranch is distinguished by the nearly 15-mile Flatwillow Creek Valley descending from the Snowy Mountains that adjoin the ranch to the west. The approximately 60 miles of Flatwillow Creek—with its braids and meanders winding through the property and its broad valley are the ranch’s signature natural features.
The N Bar Ranch also controls the lower four miles of the South Fork of Flatwillow Creek, and several miles of other tributary streams such as Durfee Creek and Spring Creek, which flow through their own unique valley areas. The largest of these, the Flatwillow Creek Valley contains more than 2,200 acres of meadows, irrigated by many of the Flatwillow’s most senior water rights. In addition, countless acres of sub-irrigated bottomlands and a lush riparian corridor are rich with wildlife and offer vital protection for livestock during the winter months.
The creek valleys’ lower reaches feature open meadows, sparsely treed foothills, and higher benches— some of which are suitable for dry-land farming. This landscape gives way to somewhat steeper terrain in the upper valley, richly forested with a variety of species including Ponderosa pine, Douglas fir and aspen.
The N Bar headquarters compound, established in 1885, is listed on the National Register of Historic Places. Simple white frame buildings harken back to an earlier time, and have been fully upgraded to provide modest, but comfortable, guest facilities. Four additional building compounds are strategically located throughout the ranch and ideally suited to serve as staff quarters. The ranch offers limitless opportunity for a new owner to build a custom home in a setting chosen to accentuate one’s own taste and vision.
Significant attention and resources have been focused on developing the N Bar Ranch’s livestock production facilities, which are situated for maximum efficiency and are in prime condition. Recently completed improvements include the renovation of the sale barn, as well as installation of hundreds of miles of good-quality fencing and a 4,000-foot grass airstrip.
With respect to livestock, the N Bar Ranch has retained the best genetics of the N Bar-registered Angus lines. Current management has transformed the ranch into a commercial cow/calf or cow/calf and yearling operation running 1,000 cows with the intention of carrying the calves over to yearlings. A conservative estimate of capacity—at 30 acres per animal unit—is more than 2,000 animals; however, in keeping with present management’s emphasis on maintaining top-quality wildlife habitat, the ranch currently supports approximately 1,500 head of cattle.
The N Bar has maintained an active forest management program as well, to ensure the health of the timber resources. Selective logging and the removal of smaller trees for pulp helps to reduce the fire danger and increases the carrying capacity. The ranch also runs bands of sheep to control leafy spurge, and an aggressive weed-control program combines the best and safest chemical products with the latest in biological methods for abatement.
The ranch’s agricultural operations are fully self-contained, with its hay lands alone producing 3,000 to 4,000 tons of feed annually, a capacity sufficient to sustain its cattle operation and sell excess hay. The uncommon versatility of the land and its resources supports a proven, highly functional year-round operation.
The N Bar has developed a highly efficient and streamlined operation, requiring only a small two-to three-person staff. The ranch has demonstrated consistent financial performance, with profits reinvested into ranch improvements.
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 Randy Clavel at (308) 534-9000 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 or Jerome Chvilicek at (406) 656-7500 are available to describe and discuss these services in detail and welcome your call.
AUCTIONS - Hall and Hall Auctions offers “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 over 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.
SPECIALIZED LENDING - Over the past 59 years Hall and Hall has created a legacy by efficiently providing capital to the intermountain west. 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 strong relationships with our lenders allows us to quickly tell you whether we can provide the required financing.
Competitive Pricing • Flexible Terms • Efficient Processing
In-House Appraisals • Common Sense Underwriting
Dave Roddy • (406) 656-7500
Mike Hall or Judy Chirila • (303) 861-8282
Randy Clavel • (308) 534-9000
Monte Lyons • (806) 698-6882
Following is a Montana law required disclosure.
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.
_____ of Hall and Hall is the exclusive agent of the Seller.
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.