For Sale

Spear Ranch

$29,000,000 Big Horn, WY 300± Deeded Acres

Sections

Overview

Executive Summary

The Spear Ranch is one of the area’s historic properties dating back to the Spear family’s arrival in the early 1880s. It consists of 300± deeded acres lying along 1.6± miles of Little Goose Creek – an outstanding recently rehabilitated trout fishery. The extensive building compound includes a beautifully restored classic New England-style main home, two guest houses, a caretaker’s house, extensive equestrian facilities, and an event barn. Multiple ponds, professional landscaping, and a large pivot irrigated meadow complete an amazing small ranch situated just outside the main residential core of Big Horn. This is a tightly held area at the base of the Bighorn Mountains that is dominated by both small and larger ranches in extremely strong hands. A combination of this strong ownership, multiple conservation easements, particularly along the mountain front, and an ethic of keeping even smaller ranches in productive agriculture has made the area a sought-after home for like-minded individuals and families for over a century.

Just the Facts

  • Location: Approximately 1.5 miles south of Big Horn and 15 miles south of Sheridan. The ranch fronts on a paved county road
  • Acreage: A contiguous block of 300± deeded acres with 142± acres used for irrigated hay and pasture
  • Terrain: A 1.6-mile-long elevated riparian corridor connected to an upper irrigated bench
  • Improvements: Main house, two guest houses, indoor and outdoor arenas, event barn, caretaker’s house, steel shop/equipment storage, and a four-car garage
  • Water: Three lakes, 12 wells, multiple springs, early water rights, reservoir shares, and a 1.6-mile trout stream
  • Operation: Farming is leased out to the neighbor
  • Access: Excellent year-round access just off a well-maintained paved county road
  • Views: A park-like setting with Bighorn Mountain views from the upper bench
  • Wildlife: Deer, elk, black bears, moose, coyotes, and mountain lions are all permanent or occasional visitors to this diverse property
  • Summary: Historic executive ranch with outstanding residential and equestrian improvements and a 1.6-mile trout stream in the highly sought-after Big Horn community

General Description

The Spear Ranch lies 1.6± miles along both sides of Little Goose Creek. The buildings, some of which literally overlook the creek, are situated in the riparian corridor. A professional landscaper from back East was brought in to create a wonderful park-like atmosphere within the cottonwood bottom, which includes three beautiful ponds and extensive lawns. The main house is located at the downstream end of the property, with the caretaker’s house next to it. As one moves upstream, there is the indoor stable and riding arena, and then one encounters the two beautifully remodeled guest houses, and then finally, the classic hip roof barn that has been converted to an event barn. A sturdy bridge across the creek takes one up to the sprinkler-irrigated bench, where the outdoor riding arena is located next to the sprinkler-irrigated meadow. This upper bench commands big views of the Bighorn Mountain front just a few miles away. 

Broker's Comments

A private, historic executive ranch with an incredible package of amenities and beautifully executed improvements in one of the most coveted and tightly held communities in Wyoming.  

Locale

Location

The Spear Ranch is about a mile and a half south of Big Horn and 15 miles from Sheridan, which offers multiple daily flights to and from Denver as well as an active Fixed Base Operation. The Spear Ranch location takes it outside of the residential core of Big Horn and into an area of larger ranches and estates. It is immediately adjacent to the Brinton Museum property and adjoins the famous Polo Ranch, which once belonged to the Wallop Family and is home to what we believe could be the second oldest active polo field in the United States, dating back to 1893.  

Locale

The town of Big Horn was founded in 1882. Oliver P. Hanna was its first resident, having built a cabin on Little Goose Creek in 1878. It once had a population of over 1,000, but Sheridan got the railroad in 1893 and soon became the major city and the county seat. The Big Horn community is now an area where there is a combination of larger ranches in strong hands and smaller, more retreat-type estates. The town’s popular grade and high school make it a sought-after community for individuals and families that prefer the small-town atmosphere and immediate proximity to the Bighorn Mountains. While there is significant wealth in the community, one is generally not aware of it because the locals at all income levels live quietly and conservatively, with much attention paid to operating their ranches productively, taking care of their livestock, and living comfortably with nature. 

Big Horn is home to two polo clubs, and the Big Horn Equestrian Center – home to the Big Horn Polo Club - is a dominant member of the community during the spring and summer. In addition to polo, it hosts many events, including weddings, soccer tournaments, and various other equestrian events. Polo is free and offers a wonderful place to enjoy a weekend family picnic and watch some of the best players in the world perform. 

Sheridan is just a few miles down the road and offers a cross-section of social and cultural opportunities second only to Jackson, which most Wyomingites consider to be a free-standing resort and not really a part of the state. Sheridan is where the early settlers from the East and Midwest first hit the mountains. The earliest dude ranches, many of which are still in operation, were created there in the first decade of the 20th century, and many of those early dudes came back in the 1930s and 1940s to make Sheridan their permanent home. The Bighorn Mountains rise to over 11,000 feet, but Sheridan sits at around 3,800 feet above sea level. This has made Sheridan arguably the most appealing community in Wyoming in which to live on a year-round basis. Big Horn is, of course, several miles upstream and enjoys the cooler mountain climate. 

Climate

The town of Big Horn sits at an elevation of around 4,500 feet above sea level at the base of the Bighorns and boasts a comfortable year-round climate for the Northern Rockies. Annual precipitation averages 14.5 inches, with annual snowfall averaging 72 inches. Average temperatures in July run around 70.2 degrees, and average temperatures in January are 21.5 degrees. Most areas east of the continental divide along the mountains only occasionally pass through the averages. Big Horn is particularly subject to Chinook winds that can keep it virtually snow-free through the winter. At the same time, one can get significant snowfalls – particularly in March and April – as well as occasional cold temperatures. 

Aesthetic Considerations

The setting along Little Goose Creek gives one a magical, tucked-away feeling of complete privacy in one’s own private park surrounded by wildlife and birds. When one rides up on the benchlands above the creek, the views of the Bighorns are impressive. 

History

The historic Spear Ranch goes back to one of the most renowned families in the area’s Euro-American history. The many Native American tribes, who also called it home, held this area in high regard long before the arrival of Europeans. Crow tribal leader Arapooish described Crow Country as follows: “exactly in the right place. It has snowy mountains and sunny plains, all kinds of climates, and good things for every season. When the summer heat scorches the prairies, you can draw up under the mountains, where the air is sweet and cool, the grass fresh, and the bright streams come tumbling out of the snowbanks.” It is no wonder that the Spear family made their home here just a few years after the epic Battle of the Little Bighorn.

Willis Bradford Spear, his wife Jane Ferguson Spear, and their eight children arrived in the Big Horn area from Philipsburg, Montana. There were 24 people in the party, and they reportedly left Philipsburg with 100 horses and 80 cows. They lost 21 horses crossing the Yellowstone River and carved their names into Pompey’s Pillar near where William Clark of the Lewis and Clark expedition carved his. They passed by the Little Bighorn Battlefield, where bones were still scattered on the landscape from the epic battle a few years earlier. Their son Willis Moses Spear was 21 years old. They took up a homestead next to George Washington Benton, whose daughter Virginia Belle Benton would soon marry Willis in 1886. Benton traded a wagon, harness, and two white mules for his 160-acre homestead in 1881 and sold it to his son-in-law Willis for an unspecified number of horses and cash after the marriage. We believe these homesteads were essentially what makes up the Spear Ranch today.

Willis and Belle were respected members of the community for many years. Willis and his brother Hulett (“Doc”) established the Spear Brothers Cattle Company in 1896. This was one of the famous early day ranching operations that was headquartered out of Sheridan. Other early-day ranching operations included Faddis Kennedy and the Kendrick Cattle Company, who accumulated over 300,000 deeded acres beginning around 1881. At one time, the Spear Brothers owned 22 ranches and ran 110 cow camps that stretched through both the Cheyenne and Crow Reservations all the way north to the Yellowstone River. Drought and a tough economy started to take their toll in the 1920s, and their holdings shrunk. Willis cleverly took up the dude ranching business to pad his cash flow. He built several cabins on his Little Goose property, two of which remain today, and began to take in friends from throughout the Midwest and East. At one time, they had a capacity of 30 guests. He then built Spear-O-Wigwam in 1924 high in the Bighorns and got leases from the U.S. Forest Service to operate on the National Forest. 

Their guest list was legendary - from captains of industry and their families who opted for a vacation in the American West over traveling to Europe during the depression years to celebrities and just normal families from the East and Midwest. Willis even brought Ernest Hemingway to Spear-O-Wigwam with his wife at the time, Pauline, when he was writing A Farewell to Arms. One of the cabins was renamed in his honor as the Hemingway Cabin. 

The Little Goose property was sold in 1930, and Willis and Belle retired. The property – particularly the big house - has seen several owners since then. However, much of it has now been reassembled into what we are once again calling the Spear Ranch. Several of the original buildings - including the main house - remain and have been lovingly renovated to a very high level.

Property Details

Acreage (Deeded & Leased)

The ranch consists of approximately 300± deeded acres, of which approximately 65 are under pivot irrigation and are utilized for hay production or irrigated pasture. 

Deeded Acres: 300±
Total Leased Acres:
Total Acres: 300±

Improvements

One of the many benefits of the Spear Ranch is that, while it is not mentioned in every individual description, all the improvements have been remodeled and renovated to the highest standard. It is truly “move in” ready. Many of the furnishings are included as well. 

Main House – (7,414± Square Feet): This classic New England-style home was built by Willis and Belle Spear and has undergone several remodels and updates by at least four owners since 1930 that we know of. These were all families of considerable wealth and good taste who spared no expense to update and remodel it to the highest standard. The most recent and likely the most comprehensive update was completed in the last five years by the current owners. 

Main Floor – There is a kitchen/pantry and dining area with granite counters and the latest high-end appliances set up equally for comfortable private family use or for a kitchen staff providing served meals. Just off this end of the house is a screened gazebo overlooking the creek that allows the family to eat summer meals outside. Natural oak wood flooring is throughout the two main floors. A hallway leads one to a series of rooms. There is a formal dining room with a gas fireplace just off the kitchen, a private office with a full bathroom across the hall, a library/sitting room with a wood-burning fireplace and powder room, and a bedroom with a full bathroom and gas-burning fireplace. This hallway opens into the formal front entrance and the large formal living room with a wood-burning fireplace and an attached enclosed sun porch. 

Second Floor – Staircases from the front entrance and from the kitchen area lead up to the second floor. Starting from the back stairs, one first encounters a large laundry room and linen storage, and then there is a one-bedroom suite with a bathroom. Then, proceeding along the hallway, there is a small bedroom with a bathroom on one side and two good-sized bedrooms, each with a fireplace and a shared bathroom on the other side. This combination could also function as a one-bedroom suite with a sitting room. Then there is another smaller bedroom with a bathroom and fireplace. The hallway then opens into a large sitting area where the stairs come up from the front entrance. This end of the house is where the master bedroom suite is contained. It features a large bedroom with a fireplace, a bathroom, a sitting area, and a large closet area. 

Other Features of the Main House – It is beautifully landscaped with the gazebo and a fenced play area for children. The house has its own backup generator. There is an attic that includes a recreation room for children. In the basement, there is an exercise room, all the utility hookups, and extensive backup water storage. The house also has a built-in fire suppression system on each floor. 

Caretaker’s House (984± Square Feet): Next to the main house is a small, comfortable two-bedroom, two-bathroom caretaker’s house.

Guest House #1 (1,728± Square Feet): Located just downstream from the event barn, we believe the two guest houses were left over from the dude ranching era. This one features two bedrooms, each with a bathroom and a fireplace, a kitchen, a laundry room, a living room with a fireplace, and a lovely deck over the creek. There is a four-car garage associated with these guesthouses. 

Guest House #2 (1,806± Square Feet): This house has a bigger kitchen with granite counters, a living room with a big stone fireplace, an enclosed porch, a laundry room, a bedroom with bathroom, a master suite with a sizable bathroom, sitting room, and bedroom. These bedrooms also have fireplaces. 

Four Car Garage (1,780± Square Feet): This is an older building with a concrete floor that has not been updated. It is used for equipment and vehicle storage. 

Pond Cabin: One of the three ponds has been dedicated as a swimming pond. Presiding over this pond is a completely refurbished older one room log cabin. It features a log burning fireplace and a porch overlooking the creek. It has hosted literally hundreds of pool parties over half a century or more in its current location.  

Equestrian Barn (11,304± Square Feet): This is a very complete indoor arena with a large entry room and bathroom. Eight stalls with waterers, indoor and outdoor washing stalls, a hay loft, and a large 90’ X 120’ riding arena with special shock-absorbing mulch and sprinklers to keep the dust down. The stalls open into fenced paddocks. There is also an outdoor arena and round pen for working horses on the bench above the creek. 

Event Barn (1,944± Square Feet):  This classic hip roof barn has been converted into a facility for events such as dances, weddings, and concerts. The downstairs has been fitted with a prep kitchen, bathrooms, a green room, serving area, etc. The haymow has been refinished as an open space to accommodate whatever activity is contemplated. The doors on each end open up to large balconies that overlook the ranch and the creek. 

Shop/Storage Building (3,200± Square Feet): This is a partially heated three-bay steel building with a bathroom, a shop area, and extensive storage for ranch equipment. 

Other Improvements: While the ranch has its own wells, the entire property lies within the Sheridan Area Water Supply District and has access to city water. There are miles of trails throughout the ranch that have been covered with wood chips. There is a small gauge target range as well. 

Water Rights

As one might expect with a ranch whose history dates back to before Wyoming became a state, the Spear Ranch has excellent early irrigation water rights. In addition, the seller includes 131 very valuable shares of Park Reservoir water which assures late irrigation, as well as good stream flow. The ranch is blessed with three beautiful ponds and 12 permitted wells for domestic and stock water. The are also multiple freshwater springs, four of which are of some significance and flow year-round. 

Mineral Rights

All minerals appurtenant to the property and owned by the current owners will be conveyed to the buyer.

Taxes

Based upon past years the annual real estate taxes are estimated at $24,753.55. 

Recreational Amenities

Fishery Resources

The fishery is extraordinary when one considers that much of Little Goose tends to become dewatered. Between the ranch’s early water rights, active springs, and overflow from heavy irrigation above the ranch, they are able to maintain good flows through the ranch. The current owner has spent an estimated $750,000 enhancing the stream by adding structures and creating holding water for larger fish. There is an estimated 1.6 miles measured on the meander. In addition, one of the ponds has been fitted with aerators, so it produces large fish as well. 

Wildlife Resources

As with all the ranches at the base of the Bighorn Mountains, the Spear Ranch is the full or part-time home of deer, elk, black bears, mountain lions, moose, coyotes, and upland birds. Lush pastures, productive meadows, patches of brush, aspen groves, scattered timber, and abundant water with the attendant riparian corridor along the stream all combine to offer comfortable and diverse habitats for most species. The current owner is a wildlife enthusiast and has gone out of his way to plant food plots designed to attract wildlife. The main irrigated meadow is planted to an alfalfa/grass mix, which is only cut once each year and then left as feed for wildlife. 

General Operations

General Operations

Fortunately, there are multiple reputable local ranchers who are interested in leasing the farming operation. This has worked out well as it is difficult to own expensive farming equipment to farm 65± acres. These neighbors own equipment and need to amortize it over additional acres. This works out well for everyone. 

The balance of the operation involves maintaining the infrastructure and accommodating the needs of the owners. This often involves equestrian activities. It is fortunate that it is only a short drive into the Bighorn Mountains to access literally hundreds of thousands of acres of national forest lands that offer some of the most beautiful rides in the West. More intensive equestrian activities are easily accommodated with the ranch’s on-site indoor and outdoor facilities. 

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Peter Widener
Real Estate Partner
Sheridan, WY
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When I realized that my contract for a land purchase in Sheridan, WY did not afford a long period to closing, I was certain that I would not be able to draw upon debt financing for the purchase. My Hall and Hall broker/advisor, Peter Widener, who guided me through the contract process, encouraged...

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Peter Widener
Real Estate Partner
Sheridan, WY