CHEYENNE RIVER RANCH
Rapid City, South Dakota
$28,000,000
14,842± Deeded Acres
15,920± Total Acres
MAJOR INVESTMENT OPPORTUNITY
RARE TAX INCENTIVES AVAILABLE
INTRODUCTION
Cheyenne River Ranch is a truly magnificent legacy property, encompassing an extraordinary 15,920± combined acres of untamed beauty just 30± minutes from the gateway of Rapid City, South Dakota. A rare gem in the American West, this storied ranch offers a seamless blend of working cattle operation, breathtaking scenery, and unparalleled recreational potential. This ranch provides 14,842± deeded acres, grazing permits, historical lands, and more.
The land stretches through covered hills, lush river valleys, and fertile hay fields. Rapid Creek meanders nearly 9 miles through the ranch, adding to the abundant water resources that sustain both livestock and wildlife. The wooded corridors along Rapid Creek create an ideal habitat and hunting ground for the trophy-grade whitetail deer that can be found there. One can also hunt for trophy-quality mule deer, pronghorn, and wild turkeys that call this expansive ranch home.
The ranch improvements are functional yet steeped in authentic charm: two well-situated homes, several working facilities, and numerous outbuildings form the operational heart of this ranch. Thirty miles of pipeline feed stock tanks and wells across the land, historically supporting year-round productive cow/calf operations and subsequently a leased buffalo grazing operation. Rich with irrigated and dryland hay production and teeming with trophy-class wildlife, Cheyenne River Ranch is both highly productive and a sanctuary of solitude.
Whether your legacy calls for an enduring cattle ranch, an unspoiled hunting paradise, or an iconic western retreat— Cheyenne River Ranch stands ready to meet your needs and exceed every vision you may have.
Priced below multiple reputable appraisals. 1
Cheyenne River Ranch | Rapid City, South Dakota
QUICK FACTS
• 15,920± total acres; a landscape of remarkable legacy and scale
• 1± mile of Cheyenne River frontage, 9± miles of Rapid Creek
• 20+ miles of pipeline; 30+ stock tanks, multiple wells & stock dams
• Multiple sets of working corrals
• Machine sheds, barns, shops, and cattle facilities
• 110± acres irrigated by pivots, multiple pasture divisions for rotational grazing
• 1,800± acres of dryland hay production
• Trophy whitetail, mule deer, pronghorn, wild turkey, and upland birds
• 22± miles from Rapid City Regional Airport
• 226± sunny days/year
Cheyenne River Ranch | Rapid City, South Dakota
INCOME OPPORTUNITY
From a production stand, Cheyenne River Ranch is a high-performing asset. Historically the ranch has supported more than 700 cow/calf pairs while the current owner leases land to a bison rancher. Over 1,900 acres of hay ground—110 of which are pivot irrigated—provide strong feed security and revenue potential.
The infrastructure is efficient and well-designed, with five sets of working facilities, multiple rotational pastures, and 20+ miles of water pipeline servicing stock tanks throughout the property. Its proximity to Rapid City and regional infrastructure adds further value and accessibility, enhancing both operational logistics and resale potential.
The ranch will be encumbered by a conservation easement with Northern Prairies Land Trust. The current owner believes that the easement will not have any impact on the agricultural operation or recreational opportunities on the ranch, including hunting.
Cheyenne River Ranch | Rapid City, South Dakota
Cheyenne River Ranch | Rapid City, South Dakota
• 14,842± deeded acres
• 1,086± National Grasslands Grazing Permit
www.fayranches.com | 800.238.8616 | info@fayranches.com
Cheyenne River Ranch | Rapid City, South Dakota
Cheyenne River Ranch | Rapid City, South Dakota
IMPROVEMENTS
Situated on the ranch’s southwestern edge, the primary headquarters are accessed by a private road leading to the primary residence—an architecturally distinctive 2,275± square-foot Earth Berm home. Built into the hillside with a living roof of native grasses and a stone-clad front, this renovated home blends into its environment while offering dramatic, elevated views of the valley and Rapid Creek below. The residence is comfortable and low-profile, with four bedrooms, two-and-a-half baths, and a one-car garage.
Nearby stands the ranch’s historic home, dating back to 1908. It holds great potential for restoration or perhaps as a guest home or manager’s quarters. It was once the home of legendary rancher Pete Lemley and even appears in the pages of The Badlands Fox, a testament to the property’s storied past.
The ranch also features a comprehensive suite of outbuildings, including a 30’ x 60’ steel shop with concrete floor, a 31’ x 56’ machine shed, a 24’ x 60’ open cattle shed, a 23’ x 100’ covered feed shed, and a classic 32’ x 32’ barn—all supporting the operational heart of the ranch.
ADDITIONAL FACILITIES
North of Highway 44, in a pasture just east of the primary residence, lies a newly constructed steel pipe corral system engineered to handle up to 1,000 head. Complete with a livestock scale, deep well, and loading chute, this turnkey setup ensures seamless livestock handling.
Cheyenne River Ranch | Rapid City, South Dakota
HUNTING | WILDLIFE
With limited hunting pressure over the years, the land has quietly evolved into a haven for trophy-class game. Whitetail deer exceeding 200 inches have been harvested along the wooded corridors of Rapid Creek, while trophy-quality mule deer, pronghorn, and wild turkeys roam freely across the expansive grasslands and hidden draws.
The ranch’s diverse topography and exceptional cover provide ideal conditions for upland birds and other game species, while stock ponds scattered throughout the property hold potential for warm-water fish stocking.
A hunter’s paradise in waiting, Cheyenne River Ranch is rich with opportunity, yet remarkably unspoiled.
AREA HISTORY
Few properties in the American West carry a legacy as vivid as Cheyenne River Ranch. This land was once home to the legendary Pete Lemley—known throughout the region as the “Badlands Fox.” Lemley was more than a rancher; he was a frontier icon. He spoke fluent Lakota, rode with Buffalo Bill’s Wild West Show, and broke thousands of horses for the US Cavalry. His ranching empire, the Quarter Bar Circle, once spanned over 30,000 acres—much of it encompassing the modern-day Cheyenne River Ranch.
Assembled initially by J.R. McGrew, a prominent owner of the Baltimore and Ohio Railroad, Lemley eventually acquired the ranch, whose larger-than-life presence left a permanent mark on the land. He was a fierce advocate for the open range, famously opposed the arrival of barbed wire, and staunchly resisted the taming of the untamed.
His legacy endures in the pages of The Badlands Fox by Margaret Lemley Warren and in the physical landmarks still present today—like the abandoned Cheyenne River truss bridge, the Rapid Creek girder bridge, and the iconic “Creston Dinosaur,” a 60-foot-long roadside curiosity built in 1933 that still stands sentinel over the ranch.
The ranch also encompasses 15± acres of the historic townsite of Creston—once a bustling stop along the railroad and a symbol of westward frontier expansion. These elements form a living chronicle, where the past is not forgotten but proudly integrated into the fabric of the land.
Cheyenne River Ranch | Rapid City, South Dakota
CLIMATE
With an average of 226 sunny days per year, the area provides a long growing season and consistent conditions for both livestock and human comfort. Annual precipitation averages approximately 18.35 inches, with snowfall totaling 26± inches. At an elevation ranging from 2,300 to 2,800 feet, the ranch is fully functional year-round.
Climate charts courtesy of https://www.city-data.com/city/Rapid-City-South-Dakota.html
AREA ATTRACTIONS & ACTIVITIES
The surrounding region offers an abundance of natural wonders and cultural landmarks. Just west of the ranch lie the iconic Black Hills, home to Mount Rushmore, Crazy Horse Memorial, and endless hiking, biking, and scenic drives. To the east, the dramatic landscapes of Badlands National Park provide world-class photography, fossil beds, and exploration. The historic towns of Deadwood and Sturgis add Old West charm and vibrant events, including the famous motorcycle rally. Year-round activities include hunting, fly fishing, snowmobiling, skiing, and horseback riding. The area is rich in Native American history, outdoor recreation, and small-town hospitality—all within easy reach.
Mount Rushmore - photo not taken on property
The Badlands - photo not taken on property
Photo not on property
Photo not on property 19
Cheyenne River Ranch | Rapid City, South Dakota
Cheyenne River Ranch | Rapid City, South Dakota
LOCATION
Strategically situated just 30± minutes southeast of Rapid City, Cheyenne River Ranch lies at the heart of western South Dakota’s most coveted ranching region. With direct access off Highway 44 and only 22 miles from Rapid City Regional Airport, the property offers a rare combination of seclusion and connectivity—ideal for both working operations and refined retreat.
Rapid City, the region’s largest hub, provides a full suite of services and amenities, including fine dining, boutique shopping, medical care, and cultural attractions. As the gateway to the legendary Black Hills, the city grants access to iconic landmarks like Mount Rushmore, Crazy Horse Memorial, and the historic towns of Deadwood and Sturgis. The area offers year-round outdoor recreation—from big game hunting and fly fishing to skiing, snowmobiling, hiking, and horseback riding.
AIRPORT SERVICES
Rapid City Regional Airport (RAP) offers full-service access for both private and commercial air travelers. For private aviation, multiple outfits provide hangar space, fueling, and luxury amenities for jets of all sizes. Charter services and concierge support make it an ideal hub for high-net-worth individuals and business travelers. On the commercial side, RAP is served by major carriers, including Delta, United, American, and Allegiant, with direct flights to Denver, Dallas, Minneapolis, Chicago, Las Vegas, Phoenix, and more. Just 22 miles from the ranch, the airport ensures seamless connectivity for both business and pleasure.
Cheyenne River Ranch | Rapid City, South Dakota
Cheyenne River Ranch | Rapid City, South Dakota
Cheyenne River Ranch | Rapid City, South Dakota
WATER RIGHTS
This property boasts a rare and robust water infrastructure, anchored by about a mile of the Cheyenne River and 9± miles of the winding, tree-shaded Rapid Creek—each contributing not just to irrigation, but to the land’s vitality and scenic allure.
Cultivated for both livestock and wildlife, the ranch is laced with over 20 miles of pipeline feeding upwards of 30 stock tanks and numerous stock dams. Systems were recently enhanced with over 21 miles of new pipeline and the installation of a deep well in the northwest quadrant of the ranch. Additional wells serve various sections of the property, ensuring reliable access to fresh water across its vast acreage.
MINERAL RIGHTS
All mineral rights owned by the seller will convey with the sale, preserving future resource value for the next steward.
The ranch’s soils—comprising sandy loam, silty loam, and clay—support a healthy and diverse grassland ecosystem. Dominant native grasses include gramma, western wheatgrass, buffalo grass, needlegrass, and crested wheatgrass, providing excellent nutrition for livestock and habitat for wildlife.
These resilient plant communities thrive across the rolling terrain, supporting rotational grazing and sustainable hay production while contributing to the ranch’s ecological integrity.
Cheyenne River Ranch | Rapid City, South Dakota
Cheyenne River Ranch | Rapid City, South Dakota
SUMMARY
Cheyenne River Ranch is a rare convergence of scale, legacy, and natural beauty —14,842± combined acres of prime South Dakota land just 30± minutes from Rapid City. It offers capacity for a large cow/calf or buffalo grazing operation, over 1,900 acres of hay ground, and robust water infrastructure.
Yet it’s also a place of timeless grace: river valleys, historic homesteads, trophy wildlife, and sweeping views that invite reflection. This is both a working ranch and a western inheritance—ready for its next visionary steward.
Cheyenne River Ranch | Rapid City, South Dakota
PRICE TERMS CONTACT NOTICE
Please contact Robb Nelson at (303) 909-6491 | rnelson@fayranches.com to schedule a showing. This is an exclusive listing. An agent from Fay Ranches must be present at all showings, unless otherwise noted or other arrangements are made. To view other properties we have listed, please visit our web page at www. fayranches.com.
$28,000,000 Cash
Conventional Financing 1031 Exchange
The sellers will cooperate in the transfer of any federal leases
Offer is subject to errors, omissions, prior sale, change or withdrawal without notice, and approval of purchase by owner. Information regarding land classification, carrying capacities, maps, etc., is intended only as a general guideline and has been provided by the owners and other sources deemed reliable, but the accuracy cannot be guaranteed. Prospective purchasers are encouraged to research the information to their own satisfaction.
It is recommended that prospective buyers consult with an attorney and do their own due diligence to verify this information, specifically with respect to the proposed conservation easement.
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