Wyoming’s Historic Lost Creek Ranch On Market For $39.5 Million

JACKSON — There’s a picture window in the main lodge at Lost Creek in northwest Wyoming that’s worth more than just 1,000 words.

That picture window frames an iconic view of the Tetons, one that once prompted Teddy Roosevelt to say, “These are the first mountains I’ve seen that look like mountains should.”

That view is for sale.

Lost Creek Ranch is on the market for the first time in 54 years, and only the sixth time in 100 years for the historic Teton County ranch. The listing price? $39.5 million.

The 50-acre property, which sits like an island in the midst of the Bridger-Teton National Forest and the Grand Teton National Park, is just 4 miles from where Ansel Adams took his famous 1942 photograph “The Tetons and the Snake River Basin.” 

“That’s probably one of the most popular posters you see in dorm rooms,” Live Water Properties Associate Broker Latham Jenkins told Cowboy State Daily. “The Snake River is a big part of the amenity base here for scenic float trips, for fly fishing and for horseback riding.”

The sale of the ranch could include all existing permits as well as scenic easements. That’s floating and fishing the Snake River, overnight camping in Bridger-Teton, guided horseback riding, self-guided hiking, cookouts, campouts and more.

The ranch itself includes entitlements to build a 2,500-square-foot home, as well as a 1,500-square-foot manager’s home. The main lodge, 10 cabins and an extensive horse coral and barn already exist. There’s a 5,000-square foot spa, too, with a heated pool and hot tub. There are skeet ranges and more on one of Jackson Hole’s most exclusive ranch stays.

The weekly rate for two people starts at $8,200 or $16,400 for a family of four.

“That price includes three meals a day, as well as all the adventure trips,” Jenkins said. “It’s actually a great value. If you were to try to do all that separately, it would, believe it or not, cost more than that.”

Iconic History

Not only are the views on Lost Creek iconic, the history is as well. 

The ranch was homesteaded in 1922, but didn’t become a guest ranch until 1927, when Albert Schwabacher of San Francisco bought it. He built the main lodge, which is still standing on the property, as well as three cabins, as a summer getaway for himself and friends from around the world, many of whom had never before seen the Tetons.

“Schwabacher loved to hunt and fish,” Jenkins told Cowboy State Daily. “So, this was never a cattle ranch. It was recreational.”

Real estate magnate Jerry Halpin and his wife Helen bought the ranch in 1969. 

The couple had honeymooned there a decade before in the 1950s and always vowed to return one day. The purchase of Lost Creek fulfilled that vow, and it was the start of a new and lifelong love affair the couple had with the Tetons.

“When you live on a property like Lost Creek, you start to see how important it is to be a great steward of these lands,” Jenkins told Cowboy State Daily. “Because you’re only a part of them for a while and then we all pass on.”

That understanding of legacy, that desire to leave the ranch and the wilderness surrounding it a better place, is what drove Jerry Halpin to create the Grand Teton National Park Foundation.

“That has now raised since its inception over $110 million to support park initiatives to help ensure the guest experience, much like here at the ranch, is as positive as it can be for the 4-plus million visitors that come through grand Teton National Park,” Jenkins said. “Little do they know the goodwill of others to help ensure that experience in these parks, which are magical and such a treasure in the U.S., and really, you know respected around the world.”

Part Of A Greater Whole

Lost Creek is a part of the Greater Yellowstone Ecosystem.

“National Geographic did a beautiful magazine edition of the Greater Yellowstone Ecosystem in 2016,” Jenkins said. “It comprises Yellowstone, Grand Teton, seven surrounding National Forests in two wilderness areas — it’s over 22 million protected acres, and the largest intact ecosystem in the lower 48 states.”

Together, the parks attract millions of visitors, and Lost Creek sits in the middle of it all, with ready access to both Grand Teton National Park and Bridger-Teton National Forest.

“When you live in a gateway community like Jackson Hole, you come to understand the importance of these parks,” Jenkins said. “They’re huge economic engines, of course, connected to these gateway communities. But, more importantly, people have experiences in the park that they really can’t have anywhere else. It can be life-changing at times, watching these big animals, sharing this with their families, being moved by the mountains, and just seeing the wide-open spaces that you don’t see everyday now, especially if you live in suburbia.”

Lost Creek is part of that life-changing experience in a way few properties can boast, Jenkins said.

“These types of properties are extremely scarce around the world, because of the uniqueness of the setting,” Jenkins said. “These are very, very rare holdings.”

That makes the chance to own this property for $39.5 million priceless.

Renée Jean can be reached at renee@cowboystatedaily.com.