Twilight Peak Ranch

Property Map

Twilight Peak Ranch - Recently Sold

Emigrant, Montana

Emigrant Peak is known as the “Crown Jewel” of Montana’s Paradise Valley and Twilight Peak Ranch basks in its reflected glory. Looking out from the deck of the ranch residence to the peak’s 10,915-foot summit, one will see a living montage of elk, deer, aspen, and pine. Twilight Peak Ranch, owned by world-renowned Underwater Director and Producer Al Giddings, includes 2,954± acres (689± deeded, and 2,265± BLM and state of Montana lease) and has offered inspiration and solitude for its owner over the last 33 years of his ownership. Sheltered strategically by thick stands of aspen and fir, the 5,500± sq. ft. main residence, 6,000± sq. ft. log lodge and two guest cabins ensure plenty of room for family and friends. All the structures are sited alongside a trout-rich lake and a series of ponds fed by Gold Run Creek and several springs. This complex also provides ample water for the ranch’s fertile hayfields and an active cow/calf grazing operation.


Despite the feeling of extreme privacy, Twilight Peak Ranch is just 30 minutes from Livingston’s charming shops, restaurants, and services – and then just another 25 minutes from Bozeman’s international airport and fast-growing cultural appeal. Head south and you’ll be at the north entrance to Yellowstone National Park in 25 minutes following the fabled Yellowstone River the entire way.

For private air service, the Yellowstone Jet Center at Bozeman Yellowstone International Airport is one of the most highly rated FBO’s in the northwest United States. Livingston’s Mission Field Airport is just five miles east of Livingston and has a 5,700± ft. asphalt runway.


The Paradise Valley, which is the section of the Yellowstone River Valley that lies between Livingston and Yellowstone Park, is well known and sought after for many reasons. First of all, it is arguably Montana’s most scenically beautiful river valley with the towering jagged peaks of the Absaroka Range forming its eastern border. It is known for its year-round spring creek fishing – Nelson’s, DePuy’s and Armstrong’s – and of course the blue-ribbon quality fishing in the river itself. It is also the only year-round access point to Yellowstone National Park and is home to Mountain Sky Guest Ranch and world famous Chico Hot Springs – a hot springs spa and gourmet restaurant that is a quintessential Montana institution hosting world leaders, Hollywood glitterati, itinerant tourists as well as a cross section of Montana and more local area residents. Chico offers something for everyone and makes no distinction between its famous visitors and the average Montana family enjoying the hot pools and the more modestly priced accommodations.

Approximately 30 minutes north of Twilight Peak Ranch, the town of Livingston boasts a population of 7,000± and serves as the seat of Park County. Rich in history and noted in western journals as a rowdy western town, it was once filled with characters such as Calamity Jane and Kitty O’Leary. In its earlier history, the Mountain Crow Indians convened near the present day town site. Today, Livingston, gateway to the Paradise Valley and Yellowstone National Park, supports numerous art galleries, a wine cellar, a book store, a restored McKim, Mead, White railroad depot, gourmet restaurants, theaters, fly shops and a variety of antique shops. The Yellowstone River rushes through town and represents the spirit of this exciting small community.

Approximately 25 minutes south of Emigrant Peak Ranch is the north entrance to Yellowstone National Park, replete with all the scenic and geothermal features for which it has become famous. The north entrance at Gardiner is maintained year round, which allows vehicular access in the winter for wildlife viewing. This region of the Park also has some of the best trout fishing in the world.

The vibrant community of Bozeman is approximately an hour from the ranch. Bozeman, an eclectic university town (population 37,000 plus 14,000 students), has received national notoriety in recent years for its scenic location, limitless outdoor activities and historic downtown area. Its cafes and restaurants have become popular meeting places for individuals who love fishing, hunting, skiing, mountain biking and hiking available in the area.

Bridger Bowl Resort, a favorite ski destination in southwest Montana, is also approximately an hour’s drive. Bridger Bowl is touted for its diversity of terrain and friendly atmosphere. Winter recreation at Bridger Bowl and in the nearby national forest complements the wide array of summer-season recreational opportunities in the area.

General Description: 

Twilight Peak Ranch lies at the foot of majestic Emigrant Peak, which is the most prominent and likely the best-known mountain peak in the Paradise Valley. The mountain’s prominence is eye-catching and the lower parks and grassy slopes are instantly recognizable to wildlife enthusiasts as favored habitat for both local and migratory elk herds from Yellowstone National Park.

Approximately 121 acres of the ranch’s deeded lands lie on these upper slopes, surrounded by public lands. The setting on these upper reaches of the ranch is every bit as magnificent as might be imagined from below. Deer and elk are prevalent and mountain goats occupy the mountain’s peaks, which beckon to the avid hiker.

The ranch holds the grazing lease on the BLM property that occupies the mountain’s lower slopes. Gold Run Creek tumbles down from these slopes, watering the crop fields and feeding the ponds and lake at the base of the mountain where the ranch compound and the majority of the deeded acres (568±) are located.

The abundance of mature trees around the ranch’s streams and ponds creates tremendous privacy, which is a unique feature in the generally open landscape of the Paradise Valley. From the ranch entrance visitors have no idea what awaits among the distant trees at the end of the drive.


2,954± total acres (689± deeded and 2,265± leased)

Acreage Breakdown: 

The ranch consists of 689± deeded acres, 1,625± acres of leased Bureau of Land Management and 640± acres of state of Montana lands. Approximately 63 acres are subject to irrigation for hay. Sprinkler irrigation is by wheel lines which are entirely gravity fed, which means there are no electricity costs associated with pumping. Approximately 121 acres of the deeded lands are located on the mountainside. This acreage and surrounding national forest and BLM lands are heavily utilized by elk, deer and other wildlife.  The remaining deeded acreage lies on the valley floor at the foot of the mountain and includes the irrigated fields, ponds and structural improvements.


The 5,500± sq. ft. main residence is of log construction and is situated with a dramatic view of the Absaroka Mountains overlooking a private 5± acre lake. Access to the home is via a double-door entry into a central great room/reception area with high ceilings and large windows that allow the natural light to warm the log walls, complemented by panels of Montana quarried flagstone. The home consists of six bedrooms, three baths, an office, and a warm, inviting family room with a fireplace and a huge window framing one of the most dramatic views found in Montana.

The kitchen, enhanced by granite counters, is capable of entertaining large gatherings. In addition, there is a game room which accommodates a pool table and wet bar, plus an underground 100-yard rifle range.

An expansive deck with a hot tub overlooks the lake with the Absaroka Mountains and Emigrant Peak as a stunning backdrop. Landscaped grounds are supported by drip systems and station sprinklers and outside lighting enhances the ambiance.

Gold Run Creek tumbles down from Emigrant Peak, recharging the ranch’s privately stocked fisheries and adding natural water features to a beautiful landscape. The ranch is ideal for large family gatherings, guests, or a business retreat.

Additional guest accommodations include a 6,000± sq. ft. log lodge with a large great room, six bedrooms, two baths, two one-half baths, and a large kitchen. Film history was made in this guest house. It was here that the movie Titanic was conceived; in fact, the cameras used to film underwater scenes in Titanic were built in a shop on the ranch.

Two smaller guest houses – one with two bedrooms and two baths and another with one bedroom and a bath – overlook two separate stillwater fisheries, each with an absolutely incredible view of Emigrant Peak. There are heated garages to accommodate up to nine vehicles, plus an equipment shop.

General Operations: 

The cattle operation on the ranch is currently run by the neighboring landowner to the north. Approximately 70 mother cows are owned in partnership and in addition the neighbor has approximately 70 of their own mother cows. The cattle are rotated between the two properties, and the state and BLM grazing leases. Irrigated hay fields on both ranches provide winter feed.

This joint venture has been long lasting and very beneficial to both parties. The neighbor manages the grazing, fencing, irrigation, haying, feeding and other day-to-day tasks in exchange for use of the Emigrant Peak Ranch property and associated grazing leases. In the fall, when calves are sold, the partners split the income, which has ranged from $25,000 to $50,000 to each.

Over several decades of current ownership, the positive results of good stewardship have been evident in the increased production, overall range health, and condition of the property. For the current owner this ongoing relationship has been incredibly positive, and the opportunities available will certainly be an asset to the new owner.

Fishery Resources: 

The Paradise Valley is renowned not only as a world-class fishing and big game area, but also for its majestic scenery. Just five minutes from the ranch, the mighty Yellowstone is the longest free-flowing river in the lower 48 states, flowing over 500 miles from its source in Yellowstone National Park to its confluence with the Missouri River in North Dakota. Over 100 miles of the Yellowstone, including that portion through the Paradise Valley, is considered a blue ribbon trout fishery. Brown, rainbow and cutthroat trout are found throughout, with the portion closest to Yellowstone National Park containing the highest densities of the native Yellowstone cutthroat. Because of its size, the Yellowstone is considered an ideal float-fishing river. There are public access points along the river’s course which provide a tremendous variety of floating options. White water rafting is also popular in the more rapid sections of the river.

Many of the finest trout streams in the West originate in Yellowstone National Park. Fishing in the Park provides an unparalleled wilderness experience as well as some of the finest trout fishing anywhere. The upper Yellowstone River, Gardiner River, Slough Creek and Soda Butte Creek are all accessed from the Park’s main entrance at Gardiner, approximately 25 minutes from the ranch. All of these streams are strongholds for the Yellowstone cutthroat, which grows to sizes in excess of 20 inches in length and is known for its eagerness to take dry flies.

Other unique fishing resources in the Paradise Valley are the world-famous spring creeks, known as Nelson’s, Depuy’s, and Armstrong’s (O’Hair’s). All three creeks are privately owned fee fisheries that provide year-round fishing opportunity. These spring resources are nutrient-rich treasures, a haven for trout of all species as well as vital spawning tributaries to the Yellowstone River. The “Spring Creeks” and their crystal clear waters offer a light-line, small-fly experience that is challenging and memorable.

Recreational Considerations: 

The adjacent Absaroka Mountains, along with the area’s other mountain ranges, provide prime habitat for elk, moose, deer, mountain goats, and bighorn sheep. Elk and deer in large numbers can be seen on the ranch at any time of the year. It is not uncommon to have several hundred elk wintering on the ranch. During the fall months the deer and elk frequently spend the day on the upper portion of the ranch and surrounding national forest and then move down the mountain in the evening to feed in the ranch’s hay fields. Whether you are a hunter, photographer, or just enjoy watching the wildlife, it is captivating to watch and listen to the antics of rutting elk nearby.

Yellowstone National Park is a favorite for photography expeditions, wildlife viewing and the wonders of nature found nowhere else in the world. Yellowstone is home to 61 different species of mammals and has the largest concentration of mammals in the lower 48 states. These mammals include the largest elk herd in North America and largest free-roaming wild bison herd in the United States.

The general area around the ranch is surrounded by public land, with over 940,000 acres of wilderness, nearly 2,000,000 acres of national forest land and approximately 2,200,000 acres of Yellowstone National Park nearby. Horseback riding, hiking, fishing, hunting, cross-country skiing and snowmobiling can be enjoyed on the ranch. Plus, the property owner has access to a trail network extending for hundreds of miles over thousands of acres in the pristine wilderness via private access from the ranch.


The annual estimated property taxes are approximately $11,300.

Mineral Rights: 

All mineral rights owned by the seller are offered with the property.

Additional Information: 

Conservation Easement

The ranch is held in conservation easement by Montana Land Reliance. The owner’s intention was to preserve the pristine nature of Emigrant Peak forever. The conservation easement document contains the following general terms:

• The owner reserved the right to sell the ranch in three parcels; two parcels of at least five acres with a right to construct a residence and garage, and the remainder

• All buildings must be located within the designated 80-acre development area

• Hunting, fishing and water development are permitted

• Residence based business is permitted with limitations

• Commercial guest ranching business is permitted with limitations

• Mineral extraction, game farms and commercial timber harvest are prohibited

 Copies of the conservation easement documents are available from Hall and Hall upon request. 

Broker Comments: 

Twilight Peak Ranch is an inspiring place with an unobstructed view of one of the most beautiful landscapes in southwest Montana. Gazing across the lake up toward Emigrant Peak is so captivating that it is hard to pull oneself away. Time flies by as life plays out on the mountainside, wildlife appears, weather changes and the sun bathes the mountain in its radiance.  The water-rich, sheltered setting of the ranch compound is ideal as a family or business retreat; a world of its own with unlimited opportunities for adventure nearby. The ranch awaits a new owner to write their own chapter in this special part of Big Sky Country.



The Facts: 
  • 2,954± total acres (689± deeded and 2,265± leased)
  • Owner’s residence, log lodge and two guest cabins
  • Majestic and uninterrupted views of Emigrant Peak and the Absaroka Range
  • Immediate access to national forest and the Absaroka Wilderness
  • Extremely private home site surrounded by a five± acre lake and numerous ponds and waterways
  • Abundant elk, deer, waterfowl, song birds and numerous other species
  • Gravity-fed, sprinkler irrigated hay fields
  • Income-generating cattle operation
  • Stunning Paradise Valley location, only 30 minutes to Livingston and 25 minutes to Yellowstone National Park
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


Following is a Montana law required disclosure.


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.