Greater Yello wstone Ranch

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1 Greater Yello wstone Ranch REED POINT, MONTANA Hunting Ranching Fly Fishing Conservation

2 Greater Yello wstone Ranch REED POINT, MONTANA Introduction: Situated along the banks of the Yellowstone River in southcentral Montana, the Greater Yellowstone Ranch offers an agricultural component as well as premier recreational opportunities for the sporting enthusiast. Consisting of 9,602± total acres, this three-generation ranch represents one of the larger contiguous land holdings in this area of the Treasure State. The topography varies from river riparian bottomland, to crop ground, to rangeland pastures interspersed with high-timbered ridges, draws and coulees. The ranch borders approximately four miles of river, which serves as a magnet for a diverse wildlife community that includes mule deer, whitetail deer, elk, antelope, turkey, pheasant, Hungarian partridge and waterfowl species, as well as many non-game animals and birds. The ranch is minimally improved with a small home and outbuildings, however there are many wonderful homesites, any of which would enjoy spectacular southern views of the Beartooth Mountains. Historically, the ranch has been operated as a commercial cow/calf operation and controls both irrigation and stock water rights. In addition to the acreage that can be irrigated, there are several other areas, which have historically been farmed that would be excellent for dry land crop production and food plots for both livestock and wildlife. The surrounding area is one of the most sporting-oriented locations in Montana, renowned for a number of excellent fisheries and worldclass hunting options for upland birds, waterfowl and big game. The Greater Yellowstone Ranch is a beautiful property and represents a unique purchase opportunity for the livestock producer or sportsman. Jeff Shouse, Associate Broker Cell: Jack McInerney, Sales Associate Cell: Toll Free: Office:

3 Location: The headquarters of the Greater Yellowstone Ranch are located in Stillwater County, approximately 5 miles east of Reed Point, 10 miles west of Columbus, and 54 miles west of Billings, Montana. This region of south-central Montana is characterized by varying geography; highly productive irrigated river valleys, timbered foothill and bench country, vast expanses of rolling prairie and rangeland, and high-alpine mountainous terrain. The area is touted for its recreational opportunities, cultural variety, historical richness, and distinctive western feel. Situated on the northern fringe of the Greater Yellowstone Ecosystem and Beartooth Front, Stillwater County is relatively unpopulated with roughly 8,000 people spread across approximately 1,800 square miles. Large areas of open space are the rule here where antelope, deer and elk outnumber people by a large margin, and the landscape has largely escaped the subdivisions and urban sprawl that are becoming increasingly prevalent in other scenic parts of Montana. This characteristic is principally attributed to the fact that agriculture remains one of the primary economic activities in the region, centered on both purebred and commercial cattle and sheep ranches, as well as large farming operations.

4 Area: South-central Montana offers an overwhelming bounty of natural resources, blessed with millions of acres of snowcapped peaks and pristine forests, river riparian ecosystems cradling some of the finest trout streams on the planet, vast expanses of prairie and plains, and a wildlife community that in terms of density and variety, most likely exceeds any other region in the continental United States. Whether the pursuit is fishing, hunting, camping, hiking, skiing, or any number of other similar activities, the possibilities are limited only by the imagination, and thousands of people flock to Big Sky Country every year to experience outdoor pursuits amidst some of the most magnificent scenery found anywhere in the world. With some 2,000 residents, Columbus lies on the north bank of the Yellowstone River, and serves as county seat of Stillwater County. The town originated as a stage stop on the Yellowstone Trail, and was once widely noted for its local stone quarries, which supplied stone for the State Capitol building in Helena. Columbus provides many shopping and service related opportunities, elementary and high schools, eating establishments and watering holes, specialty shops, car dealerships, motels and hotels, a museum, a regional hospital - Stillwater Billing Clinic - and a small regional airport.

5 Area (Continued): Billings, the largest city in Montana with a population of 110,000 is the major trade center for all of south-central Montana. Providing all shopping and service options, Billings is also home to Montana State University-Billings, and Rocky Mountain College, the Western Heritage Center, Yellowstone County Museum, Yellowstone Art Museum, Zoo Montana, the Alberta Bair Theater, the Billings Symphony Orchestra, NOVA Performing Arts Center, the Metra Civic Center, two hospitals - St. Vincent Healthcare and Billings Clinic, and hosts a multitude of festivals, events and functions throughout the year. Billings Logan International Airport provides jet service to the area with numerous arrivals and departures daily, facilitated by four commercial airlines - Alaska, Allegiant, Delta and United. There is also one FBO catering to private aircraft at Logan Field. The small town of Reed Point with less than 200 residents, provides a post office, bar, and both elementary and high schools.

6 Acreage: At elevations ranging from roughly 3,650 to 4,500, the Greater Yellowstone Ranch comprises approximately 9,602± total acres, with 8,353± deeded, 609± acres of Bureau of Land Management and 640± acres of State of Montana lease ground. The ranch has been in the same family for three generations and runs approximately 4 miles at the widest and 6 miles at the longest point. Aside from the fact that Interstate-90 and the Yellowstone River run east/west through the southern portions of the property, the ranch is largely contiguous, constituting one of the larger blocked-up landholdings in the area. Expansive panoramic views of the Beartooth Range on the southern horizon, the Absaroka Range to the southwest and Crazy Mountains lying to the west, can be seen from many parts of the property. The majority of the ranch has significant scattered tree cover principally consisting of juniper and ponderosa pine, as well as cottonwoods in the creek bottoms and along the river. Virtually all of the ranch can be accessed via truck, due to several historic ranch roads, however the acreage is ideally suited for exploration on a horse or by ATV. The average annual precipitation for the area is 14 of rain and 35 of snow. Montana Cadastral classifies the ranchland use types as follows: Grazing: 5, acres Irrigated: acres Wild Hay: acres Forested: 2, acres Farmsite: 1 acres Total: 8, acres

7 Acreage (Continued): The acreage lying south of I-90 consists of both sub-irrigated and flood-irrigated hay fields, and river ripiaran habitat comprised of brushy areas interspersed with cattail sloughs, and pockets of cottonwood trees offering favored wildlife habitat. The northern part of the ranch offers two additional hay field, with the balance consisting primarily of native grass pastures - Bluebunch Wheatgrass, Green Needlegrass and Western Wheatgrass and sage-covered benches, traversed by a multitude of draws, canyons and timbered ridges. The ranch was once run as a commercial cow/calf operation with an estimated average carrying capacity of 250 AUs, however in recent years the owners have leased the property to various local ranchers for limited grazing over a period typically running from the first part of June until the middle of October, depending of forage conditions. This arrangement affords the owner the opportunity to recreationally participate in working and moving livestock and experience the general lifestyle of the Old West cattle ranch, without the need for payrolls and other operating responsibilities. The ranch is currently not stocked to its full potential, as the owners have elected to take a more holistic approach with regard to range management. Employing a limited rest-rotation grazing system, the concept is to create a balance between sensible grazing practices for livestock, while considering the habitat and forage requirements of the resident wildlife population.

8 Acreage (Continued): The current program allows for utilization of forage by cattle initially, followed by grass, forb and shrub grazing by sheep to help in the control of invasive weeds, which are present in several areas of the ranch. The property is perimeter fenced along with interior fencing to facilitate the rotational grazing program that is being implemented on seven different pastures. In 2009, the ranch installed a well and over 3 miles of water lines, cisterns, and water stations on the west side of the property to encourage better livestock distribution. Additional lines could be added to further enhance grazing and wildlife use. White Beaver and Berry Creeks provide stock water in the north pastures. The ranch is benefited by 210± acres of irrigated and 46± acres of sub-irrigated land providing the potential for a consistent hay base if a new owner has interest in a year-round operation. These hay fields have been idle for several years, reverting back to mostly grass and weeds. Development of this aspect of the ranch would further enhance the already substantial wildlife population. The ranch has filed on both stock and irrigation water rights. The irrigation water is sourced from the Yellowstone River via canal and ditches, and the ranch is a shareholder in a local ditch company. Water Rights information is available upon request.

9 Improvements: There is one house on the south end of the ranch along with several outbuildings. The improvements sit a stone s throw away from the Yellowstone River. The house was originally built in 1916, and it was remodeled in It is a one-story home with a full basement and attic, with approximately 1,180 sqft of living area. There are 4 bedrooms, 1.5 baths and gas/ forced air heating. The house also has a propane stove, and two porches. The two utility service providers for the property are Beartooth Electric Co-op and Northwestern Energy. The outbuildings include the following: Bank Barn built in 1942, measuring 748 sqft Standard Barn built in 1944, measuring 1,560 sqft Frame Agricultural Shed built in 1944, measuring 32 sqft Frame Agricultural Shed built in 1946, measuring 364 sqft Frame Agricultural Shed built in 1948, measuring 364 sqft Frame Agricultural Shed built in 1948, measuring 280 sqft Frame Agricultural Shed built in 1948, measuring 288 sqft Frame Agricultural Shed built in 1949, measuring 288 sqft Frame Implement Shed built in 1945, measuring 1,152 sqft Metal Pole Frame Building - 4 sides open - built in 1944, measuring 800 sqft Metal Pole Frame Building - 1 side open - built in 1946, measuring 1,472 sqft The buildings are somewhat modest yet functional, however a new owner may prefer to construct a primary residence in a location that would better take full advantage of the beautiful panoramic mountain views that can be found from numerous locations on the property.

10 Nearby Live Water: Montana s trout streams are legendary - in quantity, quality and scale - and the state arguably contains more premier water than could be fished in a lifetime. Seven rivers in Montana have the distinction of being labeled with blue ribbon status - simply the best of the best. One of these waters, the Yellowstone, runs through the ranch for approximately four miles, and within a two-hour drive from the property are three others on the list - the Gallatin, Madison and Missouri Rivers. The fabulous Boulder River converges with the Yellowstone just downstream from Big Timber, Montana, about a twenty-five-minute drive west from the ranch. The main Boulder, along with her West and East forks are all outstanding brown, cutthroat and rainbow trout fisheries, relatively lightly fished, and course through stunningly beautiful country. The Stillwater River enters the Yellowstone upstream from Columbus, and is both a beautiful and prolific trout fishery, especially in its upper reaches near the town of Absarokee. The river is accessible by both float and wading anglers, and supports populations of brook, brown, cutthroat and rainbow trout. Other notable fisheries within close proximity of the ranch include Big Timber Creek, Otter Creek and Sweet Grass Creek, Upper and Lower Deer Creeks, Bridger Creek and Work Creek. As well, the 921,000-acre Absaroka-Beartooth Wilderness Area, Beartooth Plateau, and portions of the Gallatin National Forest in both the Absaroka and Crazy Mountains, are full of high alpine lakes and crystal-clear mountain streams waiting for the adventurous angler who seeks the solitude commonly found off the beaten path.

11 Live Water: A highlight of the Greater Yellowstone Ranch is the 4± miles of frontage on the Yellowstone River. Volumes have been written in past and present fishing literature about this revered fishery, and in angling circles, the Yellowstone is one of the most regarded and highly touted trout rivers in the world. Beginning its journey in Yellowstone National Park, the river drains an enormous watershed, and its many tributaries include some of the finest wild trout fisheries found anywhere. Running some 680 undammed miles to its confluence with the Missouri River in western North Dakota, the Yellowstone has the distinction of being the longest free-flowing river in the contiguous United States. The river leaves the Park and enters Montana at Gardner, then flows northeast through the dramatic Paradise Valley until reaching Livingston, where the river makes a bend to the east and generally flows in that direction through the bulk of south-central and eastern Montana. While trout are found as far downstream as Billings, it is the upper one hundred miles or so of river in Montana that receives the most serious interest from trout anglers. This blue ribbon classified section of river constitutes the largest continuous stretch of trout water in the state with such designation - almost a fourth of all such defined water in Montana. The Yellowstone is a compelling mix of shallow riffles, undercut banks, deep holes and runs, and expansive tail-outs, offering a variety of superb trout habitat. The 3 main trout species in the river are the native Yellowstone cutthroat, brown and rainbow, all naturally reproducing wild fish. Additionally, brook trout are found in the river generally in the immediate vicinity of feeder creeks that support the species as are mountain whitefish, which are abundant. Not only does the river have a substantial population of trout, but it also supports some impressively large fish.

12 Live Water (Continued): Run-off in normal snowpack years is usually winding down by the middle to third week of July, and stable flows can be expected throughout the summer irrigation season. Consistent insect hatches begin in late May and usually run through mid-september. The first significant event on the Yellowstone is the Mother s Day caddis hatch, which generates a substantial amount of activity by both trout and fly fisherman. The pteronarcys, or more commonly referred to Salmon Fly hatch, generally starts around the end of June or first week in July, though due to runoff about the same time, can be a hit or miss proposition for the angler. For the bulk of late spring, summer and early autumn, excellent dry fly fishing can be had using a variety of adult-phase, imitative and attractor patterns for daily hatches that include midges, blue-winged olive, baetis and pale morning mayfly duns, and several genus of both caddis and stonefly. Mid-summer through early fall is terrestrial time, with hopper, ant and beetle patterns taking many fish on the surface. Nymph and streamer presentations are particularly effective all year-round; mayfly, caddis and small stonefly larval imitations work well in the riffles, while sculpin patterns and general attractor streamers such as wooly buggers, will take larger fish - particularly brown and cutthroat - in the deeper pools and holding lies along undercut banks. Some of the largest fish from the river are caught on streamers in the fall. While that portion of Yellowstone River in the Reed Point area does support a viable trout fishery, densities of fish are lower than upstream reaches, albeit average size is larger. This stretch of river also supports populations of ling, smallmouth bass, and sauger. The river is open to fishing year-round, and there are many excellent fishing accesses, some with camping facilities, up and down the river. Due to the size and depth of the river, access to the best water is often facilitated by the use of a drift boat to fish the deeper banks and runs, then leaving the boat to wade the riffles, head of pools and side channels. Fishing opportunities on the Yellowstone are many and varied, and an angler can spend a lifetime learning the nuances of the river and the seasonal feeding preferences of the fish.

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14 Wildlife & Hunting: Some of Montana s best hunting opportunities are found in south-central Montana. The mountains and plains comprising the region harbor all the recognized big game species in Montana, including elk, whitetail and mule deer, antelope, black and grizzly bear, mountain lion, moose, bighorn sheep and Rocky Mountain goats. Waterfowl and upland wingshooting is also superb in this area with the possibility of decoying ducks and geese in the morning, then hunting for Hungarian partridge, pheasant and grouse in the afternoon of the same day. The Greater Yellowstone Ranch supports a varied wildlife community including mule deer and whitetail deer, elk, antelope, turkey, pheasant and Hungarian partridge, as well as ducks and geese along the river. For the big game hunter, the ranch lies in Montana deer, elk and antelope District 570. Either sex mule and whitetail deer can be harvested in this district during both the archery and general big game season. For 2016, the District 570 general elk season starts on August 15, allowing for the harvest of antlerless elk by either bow or gun on private land only. Regulations then allow for the harvest of spike bulls or cows during both the archery and general season, which run September 3 - October 16, and October 22 - November 27 respectively. Extending beyond the general hunting season, antlerless only elk can be harvested from November 28 - January 1 in this district. 65 either-sex elk permits are also issued on a drawing basis in district 570, which gives the hunter an opportunity to harvest a mature bull. The Greater Yellowstone Ranch supports a year-round elk herd, providing adequate water distribution, and offering the right mix of habitat regimes preferred by elk, west and south-facing hillside meadows for forage, and timbered ridges for bedding and security cover. For the last several years, only a few select individuals have been allowed the opportunity to hunt elk on the property. Trophy bulls in excess of 330 Boone & Crockett (B&C) have been harvested recently, including one exceptional bull that scored 390 B&C. The antelope season in District 570 runs from September 3 - November 13 and allows for the harvest of one either sex animal. An additional 100 B licenses are issued in this district for the opportunity to harvest an additional antelope.

15 Wildlife & Hunting (Continued): The wingshooter will find opportunities to hunt both waterfowl and upland birds on the Greater Yellowstone Ranch. The ranch lies in the Central Flyway, and both ducks and geese use the river corridor extensively. Densities of birds increase dramatically once the northern migrations of birds head south out of Canada. Pheasants are found on the ranch, principally in the riparian areas along the river where there is prime habitat in the form of tall grass, cattails and woody cover. With the implementation of strategic food plots and additional habitat-specific enhancements, the quality of this hunting opportunity could be substantially increased. A good number of Merriam s turkey call the ranch home, and are seen with regularity. Hungarian Partridge can also be found in scattered coveys on the property. The general area is renowned for good numbers of sharp-tailed grouse. As is the case with pheasant, with the introduction of some small grain feed base to the ranch, the chances of increased populations of both grouse and partridge would be excellent. The quality hunting opportunities found on the Greater Yellowstone Ranch cannot be overstated. Overall, the ranch offers sufficient size and enough varied topography and habitats conducive to allowing substantial hunting activity, while still leaving much of the wildlife unpressured.

16 Recreation: Skiing can be found at Bridger Bowl and Big Sky Ski and Summer Resort near Bozeman about 1.5 and 2.5 hours drive respectively from the ranch, and at Red Lodge Mountain, about an hour s drive south from Columbus. The surrounding area also offers millions of acres of public lands in the form of National Forest, designated wilderness, State of Montana and Bureau of Land Management that is easily accessible to hikers, campers, horse enthusiasts, and other outdoor adventurers. Water & Mineral Rights: The seller will convey/transfer all appurtenant water and mineral rights, if any, at closing, however the seller makes no representations or warranties concerning current status or validity of any of these rights. Independent investigation of both items is recommended to any prospective purchaser.

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18 Summary The Greater Yellowstone Ranch is a beautiful piece of property, displaying a variety of terrain types, plant and animal species, and is well-balanced for a variety of income producing and sporting pursuits. The ranch is big, even by Montana standards, and particularly so for south-central Montana, offering a true sense of privacy and vastness. It takes the better part of a day to drive through all the pastures on the place, giving one the perception of remoteness - yet, the ranch is only minutes from the post office, a restaurant or gas station, an Interstate highway, and within 45 minutes of the largest city in the state. Because of its contiguous nature, the property can be run by a single operator, as well as more conveniently managed for wildlife. The ranch is minimally improved, creating an open canvas for an incoming owner, and offers prime river frontage, a viable agricultural component, outstanding recreational features, and conservation easement possibilities. When considering the diversity of the ranch coupled with the fantastic central location, the attractiveness of this Montana ranch offering should be obvious. PRICE: $7,900,000 TAXES: $4, in 2016 CONTACT: Jeff Shouse, Associate Broker Cell: Jack McInerney, Sales Associate Cell: Toll Free: Office:

19 Greater Yello wstone Ranch Location Map Maps are for visual aid only ~ accuracy is not guaranteed. Notes: 1) This is an exclusive listing of Live Water Properties LLC; an agent of Live Water Properties must be present to conduct a showing. The owners respectfully request that other agents and/or prospective buyers contact Live Water Properties in advance to schedule a proper showing and do not attempt to tour or trespass the property on their own. Thank you. 2) Offering subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information provided herein is intended as a general guideline and has been provided by sources deemed reliable, but the accuracy of which we cannot guarantee. 3) Live Water Properties LLC represents the Seller as a Seller s Agent.

20 Greater Yello wstone Ranch Aerial Map Maps are for visual aid only ~ accuracy is not guaranteed.

21 Greater Yello wstone Ranch Terrain Map Maps are for visual aid only ~ accuracy is not guaranteed.

22 Greater Yello wstone Ranch Location Map Maps are for visual aid only ~ accuracy is not guaranteed.

23 Greater Yello wstone Ranch To pographical Map Maps are for visual aid only ~ accuracy is not guaranteed.

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