STILLWATER LEGACY RANCH
Nye, Montana
$21,000,000
712± Acres
INTRODUCTION
Nestled in the heart of Nye, Montana, Stillwater Legacy Ranch is a rare and remarkable offering that is rich in history and epitomizes the beauty and recreational abundance of the Stillwater Valley. Encompassing approximately 712± deeded acres, this property is framed by nature’s finest elements—rugged peaks, winding rivers, fertile meadows, and expansive nearby public lands. A true sanctuary for outdoor enthusiasts and nature lovers, the ranch is surrounded by the stunning Beartooth Mountains and Absaroka-Beartooth Wilderness. This untouched backcountry yeilds access to world-class hiking, fishing, hunting, and outdoor adventure, right from your back gate and beyond.
Stillwater Legacy Ranch boasts an extraordinary 1.65± miles of the Stillwater River frontage, complemented by 0.7± miles of both sides of the West Fork Stillwater River flowing through the middle of the property. In addition to these significant water features, the property hosts a network of spring creeks that offer outstanding potential for stream restoration and enhancement, creating both ecological value and fly-fishing opportunities. Adding to its rarity, these natural thermal springs that never freeze over flow year-round through the property, enhancing its appeal, utility, and natural wonder.
Originally homesteaded in 1896, this working ranch has been owned and operated by the same family for 129 years. It has earned distinction as a Montana Historical Ranch and is a treasured part of the state’s ranching heritage.
Agriculturally, the ranch offers a strong and well-balanced operation, featuring 208± acres of irrigated ground and an additional 200± acres of sub-irrigated ground, with ample hay production and the capacity to support a thriving cattle operation through both private and permitted grazing resources. Improvements on the property include three modest homes, a barn, a garage, and four sheds—ideal for supporting an active agricultural lifestyle.
Stillwater Legacy Ranch is ideally situated just 45± minutes from Columbus, 1± hour from the charming town of Red Lodge, and 1.5± hours from the commercial hub of Billings. Whether you’re seeking a private retreat, a working ranch, or a family legacy property, Stillwater Legacy Ranch offers unmatched natural beauty, abundant flowing waters, historic prestige, and remarkable privacy.
Stillwater Legacy Ranch | Nye, Montana
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QUICK FACTS
• 712± deeded acres - located in Nye, Montana
• 1.65± miles of Stillwater River and 0.7± miles of both sides of the West Fork Stillwater River – crystal-clear trout water and endless natural beauty
• Thermal waters and natural springs flow throughout the ranch, with opportunities for stream restoration
• Great waterfowl hunting on the property
• With no zoning restrictions and no conservation easement, you are free to build, preserve, or evolve the land as you see fit
• Adjacent to a historic one-room schoolhouse still in use today
• Just minutes to Woodbine Falls and a Custer National Forest trailhead, located within 5± miles
• 208± acres of irrigated creeping meadow foxtail and orchard grass, plus 200± acres of sub-irrigated ground
• Supports 160 cow/calf from October through May, with 12 bulls and 30 replacement heifers on summer lease ground, plus a forest service permit for 39 head from July 25 through September 30
• Abundant wildlife including whitetail deer, wild turkeys, waterfowl, bears, mountain lions, and bald eagles
• ATV access to high mountain lakes and scenic forest trails
• Surrounded by the stunning Absaroka-Beartooth Wilderness –close access to world-class hiking, fishing, hunting, and outdoor adventure
• Three single-family homes on the property, as well as a barn, garage, and four sheds
• Bordering 480± acres of State Land
• 1± hour from Red Lodge, Montana
• 45± minutes from Columbus, Montana
• 1.5± hours from Billings and Billings Logan International Airport
Stillwater Legacy Ranch | Nye, Montana
HISTORY
Named “Stillwater” by Native Americans during a time of great drought, because here, there was still water. This land has always been a place of survival, abundance, and quiet strength.
The ranch was homesteaded in 1896, when William Ekwortzel brought his beautiful bride, Julia, known for her 18-inch waist, to their new home by wagon. At the heart of the ranch stood the original two-story homestead- a remarkable rarity in that day. Though no longer occupied, the structure once served as the center of Nye, Montana. It housed a store, served as the local voting location, and was the freight stage stop, making it a true hub of early frontier life.
Adding to its historical richness, Calamity Jane- the legendary frontierswoman- was known to drive freight wagons through this region. Local lore holds that she overnighted on the Stillwater Legacy Ranch, adding an extraordinary layer of frontier history to the land. This connection to one of the most colorful figures of the American West adds a rare and compelling touch of authenticity for any buyer who values legacy and lore.
With its blend of open meadows, river frontage, flowing thermal waters, and sweeping mountain views, the Stillwater Legacy Ranch offers a once-in-a-lifetime opportunity to own a truly iconic piece of Montana.
www.fayranches.com | 800.238.8616 | info@fayranches.com
Stillwater Legacy Ranch | Nye, Montana
ACREAGE
Stillwater Legacy Ranch spans approximately 712± deeded acres, showcasing a diverse and vibrant landscape enriched by spring-fed and thermal creeks meandering through the property. These lush meadows, nourished by abundant natural water sources, provide an ideal environment for wildlife habitat, agricultural use, and recreational enjoyment. The thermal waters and year-round natural springs contribute to the property’s ecological health, supporting riparian vegetation and maintaining consistent water flow even during drier months. These waterways not only enhance the aesthetic beauty of the ranch but also present outstanding opportunities for stream restoration and enhancement projects. Such efforts could further improve aquatic habitats, bolster fish populations, and support long-term conservation goals, making the ranch an appealing option for those interested in ecological stewardship, fly fishing development, or wetland enhancement.
6 www.fayranches.com | 800.238.8616 | info@fayranches.com
Stillwater Legacy Ranch | Nye, Montana
IMPROVEMENTS
Stillwater Legacy Ranch offers a collection of charming residences that perfectly complement the natural beauty of the landscape. The primary residence is a 1,920± square foot home featuring three bedrooms, three bathrooms, and a dedicated office space—ideal for comfortable year-round living or managing day-to-day ranch operations. A beautifully remodeled 700± square foot log home provides rustic appeal with three bedrooms and one bathroom, offering a cozy and inviting retreat for guests or family. A 440± square foot home with two bedrooms and one bathroom offers further accommodations, perfectly suited for staff housing, rental use, or overflow lodging. In addition to the residential structures, the property includes four sheds, a garage, and a barn providing ample storage for ranch equipment, tools, and supplies—supporting the operational needs of a productive working ranch. Each home enjoys sweeping views of the surrounding mountains and access to the serenity of the Stillwater River corridor, creating a peaceful living environment immersed in natural beauty.
Stillwater Legacy Ranch | Nye, Montana
AGRICULTURE
Stillwater Legacy Ranch offers a strong agricultural foundation, blending productive irrigated ground with well-managed grazing resources to support a thriving cattle operation. The ranch includes approximately 208± acres under irrigation, planted in a nutrient-rich mix of creeping meadow foxtail and orchard grass, and at least 200± additional acres of sub-irrigated pasture that naturally benefit from the property’s abundant water resources. The ranch has supported 160 cow/calf pairs from October through May, with roughly 12 bulls and 30 replacement heifers during the summer grazing season. Summer grazing is facilitated through a combination of private lease ground and a valuable U.S. Forest Service permit that allows for 39 head from July 25 through September 30. With an annual hay yield of approximately 500± tons, Stillwater Legacy Ranch sustains its own livestock needs and offers operational flexibility and long-term productivity. This is an ideal property for those seeking a turnkey agricultural investment or a legacy ranch with established infrastructure and capacity.
Stillwater Legacy Ranch | Nye, Montana
Stillwater Legacy Ranch | Nye, Montana
RECREATION FISHING | STILLWATER RIVER
Stillwater Legacy Ranch offers 1.65± river frontage on the Stillwater River, with exceptional opportunities for fly fishing in a scenic and dynamic setting, with clear, fast-moving waters and diverse trout species. Anglers can expect to catch rainbow, brown, cutthroat, and brook trout, with rainbows and browns being the most common, especially downstream of Nye. Prime fishing seasons include spring and early summer, when runoff stimulates hatches of blue-winged olives, caddisflies, and midges, and mid to late summer brings productive terrestrial action with hoppers and ants. Dry-dropper rigs are particularly effective in late June through September when flows are lower, while nymphing and streamers work well during high water in spring. Although some upper sections near Nye feature challenging whitewater, downstream areas offer more accessible conditions for wading and floating, making this river a premier destination for fly fishing in Montana.
WEST FORK STILLWATER RIVER
The ranch also has about a mile of West Fork of the Stillwater River frontage, offering a secluded and rewarding fly fishing experience, particularly for anglers seeking solitude and native trout species. Flowing from the AbsarokaBeartooth Wilderness, this tributary is characterized by clear, cold waters and rugged terrain. Anglers can expect to encounter brook, cutthroat, and rainbow trout, especially in the upper reaches. The river’s pocket water and riffles provide ideal habitats for these species. Access can be challenging, as much of the river flows through private property, but public access points like the Old Nye Picnic Site and areas near Woodbine Campground offer opportunities for fishing. Due to its remote nature and limited accessibility, the West Fork experiences low fishing pressure, making it an excellent choice for those seeking a more solitary angling experience.
YELLOWSTONE RIVER
The Yellowstone River is the longest free-flowing river in the lower 48 states, traveling 554± miles from its source in the mountains of Wyoming to its confluence with the Missouri River. There are more than 100 miles of Blue Ribbon trout water downstream from Yellowstone Park with excellent populations of brown, rainbow and cutthroat trout. Yellowstone is considered large by trout river standards and is a great river to float as well as wade fish. The river is most noted for the “Mother’s Day” caddis hatch, and when river conditions are right, it is a fisherman’s Valhalla.
About 2.5± hours from the property, you can enter Yellowstone
National Park, the birthplace of many of the finest trout rivers in the West. Headwater streams such as the Gibbon, Firehole and Lamar create rivers such as the Madison and Gallatin within its boundaries. The park hosts a lifetime of fishing opportunities with over a hundred lakes and a thousand miles of streams. Nowhere in the world are so many public rivers and streams found within such a small area.
Stillwater Legacy Ranch | Nye, Montana
RECREATION CONTINUED HUNTING | WILDLIFE
Situated within Hunting District 525, the ranch is a prime location for outdoor enthusiasts, offering diverse and abundant wildlife in a breathtaking natural setting. Stillwater Legacy Ranch, with Stillwater River frontage, provides exceptional hunting and wildlife observation opportunities. The river corridor and adjacent wetlands create an ideal habitat for great waterfowl hunting, attracting species such as mallards and Canada geese, especially during migration seasons when the area serves as a vital flyway for various bird species. The location also supports thriving populations of whitetail deer, elk, black bears, and mountain lions, with the surrounding wilderness offering a rich and varied ecosystem. Bald eagles are common, soaring above the river and nesting in the tall cottonwoods along the banks. The ranch is an exceptional base for sporting pursuits with general tags available for deer and elk, and it is in a region known for low hunting pressure and scenic seclusion. Riverfront access, diverse terrain, and healthy wildlife populations make Stillwater Legacy Ranch a standout destination for hunters and nature lovers alike.
Photo not taken on property
The property is surrounded by the grandeur of the Absaroka-Beartooth Wilderness—943,377 acres of protected land home to over 20 peaks above 12,000 feet and countless alpine lakes, offering breathtaking panoramic views and endless hiking, horseback, and backcountry exploration. The ranch as close access to world-class hiking, fishing, hunting, and outdoor adventure – right from your back gate.
Stillwater Legacy Ranch | Nye, Montana
Stillwater Legacy Ranch | Nye, Montana
GETTING THERE
Stillwater Legacy Ranch is an hour and a half drive from Billings and its commercial airport. Billings-Logan International Airport is the transportation hub that caters to corporate and private aircraft and provides hangar rentals.
LOCATION
NYE, MONTANA
Nye, Montana, is a small, picturesque town at the edge of the Absaroka-Beartooth Wilderness. Known for its rugged natural beauty and tranquil setting, Nye offers limited but essential amenities, including a post office, community church, and local gathering spots. While the town maintains a quiet, rural charm, additional services such as grocery stores, dining, and healthcare are available in nearby Columbus, just 45± minutes away. Nye serves as a peaceful retreat with easy access to outdoor recreation, including hiking, fishing, and hunting in the surrounding wilderness.
ABSAROKEE
Absarokee, Montana, is a charming small town located approximately 30± minutes from the ranch. Absarokee offers essential amenities, including a medical clinic, dining options, local shops, lodging, and community events. The town’s rich history and scenic surroundings make it a welcoming stop for both residents and visitors seeking a blend of rural tranquility and recreational opportunities.
BILLINGS
Billings, Montana, is the state’s largest city, offering a blend of urban amenities and natural beauty. As a regional hub, it provides comprehensive services, including top-tier healthcare facilities like Billings Clinic and St. Vincent Regional Hospital, both recognized for their advanced medical care. The city boasts a vibrant cultural scene with attractions such as the Yellowstone Art Museum, Moss Mansion, and the Alberta Bair Theater, which hosts a variety of performances throughout the year.
21 Stillwater Legacy Ranch | Nye, Montana
Stillwater Legacy Ranch | Nye, Montana
MINERAL RIGHTS
All mineral rights appurtenant to the property and owned by the seller will convey to the buyer at closing. Mineral rights are not guaranteed. It is suggested that the buyer conduct a mineral search with a title company.
CONSERVATION | STEWARDSHIP
Each of us at Fay loves the land and wants to see it remain a productive agricultural ground and a quality fish and wildlife habitat. Through promoting thoughtful land stewardship, Fay has guided owners toward a legacy of conserving wide-open spaces, enhancing and creating fisheries and wildlife habitats, and implementing sustainable agricultural operations. Fay is proud to say that since our company began in 1992, our clients’ conservation ethics and land-use practices have significantly enhanced our work landscape.
www.fayranches.com | 800.238.8616 | info@fayranches.com
WATER RIGHTS
Montana waters, in all their varied forms and locations, belong to the State for the benefit of its people. A water right is the right to use the water within state-established guidelines, and not any ownership of the water itself. Since water rights in Montana are guided by the prior appropriation doctrine, a person’s right to use a specific quantity of water depends on when the use of water began, establishing the relative priority date of use on the water source. The first person to use water from a source established the first right, the second person could establish a right to the water that was left, and so on. Additionally, water users are limited to the amount of water that can be beneficially used. Beneficial use includes, but is not limited to, agricultural, recreational, fish, wildlife and domestic purposes.
Montana is currently conducting a statewide adjudication of all water rights with priority dates prior to July 1, 1973. The statewide adjudication is a court process that prioritizes and quantifies all existing water rights in each Montana drainage basin. With 85 basins in Montana, and over 219,000 water right claims, the statewide adjudication is a massive undertaking that is expected to stretch well into the future. Until the adjudication process is complete, the status of any particular water right claim cannot be guaranteed. Fay Ranches, Inc., its brokers and salespersons do not warrant or make any representation concerning the quantity or quality of any water rights, nor any legal entitlement to use of water rights, permits to appropriate water, exempt existing rights, determination of existing water rights, nor any ditches, ditch rights, or ditch easements appurtenant to or constituting a burden on the property. Water rights claims appurtenant to the property may or may not have been fully or finally adjudicated, and any Buyer is advised to make any offer to purchase contingent upon and subject to such independent inspections, evaluations, and advice concerning the water rights and adjudication process as a Buyer might deem prudent. All Buyers should be aware that Fay Ranches, Inc., its brokers and salespersons involved in this offering have not conducted an expert inspection or analysis of the water rights for this property.
Stillwater Legacy Ranch | Nye, Montana
Stillwater Legacy Ranch is a truly rare offering that captures the essence of the Stillwater Valley’s natural beauty, rich history, and recreational abundance. With a history deeply rooted in Montana’s ranching heritage, Stillwater Legacy Ranch stands as a testament to generations of stewardship and Montana tradition. The property features an abundance of pristine water, including frontage of the Stillwater River and the West Fork Stillwater River, a network of spring-fed creeks, and rare year-round thermal springs that enhance its beauty, utility, and ecological value. Surrounded by the majestic Beartooth Mountains, the property provides direct access to world-class outdoor adventures, including fishing, hunting, hiking, and wildlife viewing, making it an extraordinary opportunity for a private retreat, working ranch, or multigenerational legacy property. This is your chance to write the next chapter in a legendary Montana story.
Stillwater Legacy Ranch | Nye, Montana
Please contact James Esperti at (406) 581-4795 | jesperti@fayranches.com or Sam Shelton at (406) 600-5354 | sshelton@fayranches.com to schedule a showing. This is an exclusive listing. An agent from Fay Ranches, Inc. 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.
$21,000,000 Cash
Conventional Financing 1031 Exchange
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.
RELATIONSHIPS IN REAL ESTATE
As required by Montana law, a broker or salesperson shall disclose the existence and nature of relevant agency or other relationships to the parties to a real estate transaction. The various relationships and description of duties are as follows:
1. SELLER AGENT
A “Seller Agent” is obligated to the Seller to:
Act solely in the best interests of the seller; Obey promptly and efficiently all lawful instructions of the seller; Disclose all relevant and material information that concerns the real estate transaction and that is known to the seller agent and not known or discoverable by the seller unless the information is subject to confidentiality arising from a prior or existing agency relationship on the part of the seller agent; Safeguard the seller’s confidences; Exercise reasonable care, skill, and diligence in pursuing the seller’s objectives and in complying with the terms established in the listing agreement; Fully account to the seller for any funds or property of the seller that comes into the seller agent’s possession; and Comply with all applicable federal and state laws, rules, and regulations.
Montana law permits a real estate agent, after providing written disclosure to a seller and obtaining a seller’s written consent, to represent multiple sellers of property and to list properties for sale that may compete with the seller’s property, without breaching any obligation to the seller.
A “Seller Agent” is obligated to the Buyer to:
Disclose to a buyer or the buyer agent any adverse material facts that concern the property and that are known to the seller agent, except that the seller agent is not required to inspect the property or verify any statements made by the seller; Disclose to a buyer or the buyer agent when the seller agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; Act in good faith with a buyer and a buyer agent; and Comply with all applicable federal and state laws, rules, and regulations.
2. BUYER AGENT (cont)
A “Buyer Agent” is obligated to the Seller to:
Disclose any adverse material facts that are known to the buyer agent and that concern the ability of the buyer to perform on any purchase offer; Disclose to the seller or the seller agent when the buyer agent has no personal knowledge of the veracity of information regarding adverse material facts that concern the property; Act in good faith with a seller and a seller agent; and Comply with all applicable federal and state laws, rules and regulations.
3. DUAL AGENCY If a seller agent is also representing a buyer, or a buyer agent is also representing a seller with regard to a property, then a dual agency relationship may be established. In a dual agency relationship, the dual agent is equally obligated to both the seller and the buyer. These obligations may prohibit the dual agent from advocating exclusively on behalf of the seller or buyer and may limit the depth and degree of representation that you receive. A broker or a salesperson may not act as a dual agent without the signed, written consent of both the seller and the buyer.
A “Dual Agent” is obligated to a Seller in the same manner as a seller agent and is obligated to a Buyer in the same manner as a buyer agent, except a dual agent:
Has a duty to disclose to a buyer or seller any adverse material facts that are known to the dual agent regardless of any confidentiality considerations; and May not disclose the following information without the written consent of the person to whom the information is confidential; The fact that the buyer is willing to pay more than the offered purchase price; The fact that the seller is willing to accept less than the purchase price that the seller is asking for the property; Factors motivating either party to buy or sell; and Any information that a party indicates in writing to the dual agent is to be kept confidential.
4. STATUTORY BROKER
A “Statutory Broker” is not the agent of the Buyer or Seller but nevertheless is obligated to them to:
Disclose to: i. a buyer or buyer agent any adverse material facts that concern the property and that are known to the statutory broker, except that the statutory broker is not required to inspect the property or verify any statements made by the seller; and ii. a seller or a seller agent any adverse material facts that are known to the statutory broker and that concern the ability of the buyer to perform on any purchase offer; Exercise reasonable care, skill, and diligence in putting together a real estate transaction, and Comply with all applicable federal and state laws, rules and regulations.
5. IN-HOUSE SELLER AGENT DESIGNATE Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house seller agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a seller for a designated transaction and who may not be considered to be acting for other than the seller with respect to the designated transaction.
6. IN-HOUSE BUYER AGENT DESIGNATE
Created when the agency holds both the listing on a property from the seller and a buyer broker agreement with the buyer, an in-house buyer agent designate is a broker or salesperson employed by or associated as an independent contractor with a broker and designated by the broker as the exclusive agent for a buyer for a designated transaction and who may not be considered to be acting for other than the buyer with respect to the designated transaction.
BUYER AGENT
A “Buyer Agent” is obligated to the Buyer to: Act solely in the best interests of the buyer; Obey promptly and efficiently all lawful instructions of the buyer; Disclose all relevant and material information that concerns the real estate transaction and that is known to the buyer agent and not known or discoverable by the buyer, unless the information is subject to confidentiality arising from a prior or existing agency relationship on the part of the buyer agent; Safeguard the buyer’s confidences; Exercise reasonable care, skill, and diligence in pursuing the buyer’s objectives and in complying with the terms established in the listing agreement; Fully account to the buyer for any funds or property of the buyer that comes into the buyer agent’s possession; and Comply with all applicable federal and state laws, rules and regulations. Montana law permits a real estate agent, after providing written disclosure to a buyer and obtaining a buyer’s written consent, to represent multiple buyers interested in buying the same property or similar properties to properties in which a buyer is interested and to show properties in which a buyer is interested to other prospective buyers, without breaching any obligation to the buyer.
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