With clear skies and temperatures flirting with 90 degrees, it’s a perfect weekend to enjoy a private island on Montana’s Flathead Lake.
The only problem is you’ll still need $72 million to snatch it off the market.
While a lot has changed in the past four years, that’s not the case for the asking price for Cromwell Island, a 350-acre island that’s home to an unfinished 45,000-square-foot French-style villa described as “reminiscent of Versailles” on the west side of the lake.
As anyone who has some experience in the real estate market knows, most sellers will entertain serious offers.
Whether one of those offers will strike the fancy of this particular owner, however, is a different matter.
“I guess time will tell where we make a deal, but the asking price is $72 million and that has not changed,” said Bill McDavid, the listing agent for the property with Missoula-based Hall and Hall.
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall) 
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall) 
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall)
New Neighbors
One thing that has changed is that the future owners of Cromwell Island could have some jet-set neighbors in the future.
That’s because Discovery Land Co., the developers behind the swanky Jackson’s 3 Creek Ranch and the Yellowstone Club in Big Sky, Montana, have proposed a 359-unit subdivision on 1,800 acres in Lakeside, less than 20 miles as the crow flies from the island.
But that proposed development — dubbed Territory 1889, a nod to the year Montana became a state — has run into some issues.
A local judge paused the water permitting process last month and some locals are fighting the development through the nonprofit Citizens for a Better Flathead.
Still, if that development proceeds as planned, it could help move Cromwell Island off the market for its $72 million asking price.
McDavid said it’s common for some people who buy into those sorts of enclaves to eventually decide they’d like a little more space and privacy, so they start looking for property nearby while continuing to enjoy the perks of a club membership.
“I could see the same thing happening here,” he said.
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall) 
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall) 
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall) 
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall)
Languishing On The Market
Another thing that admittedly has changed in the past four years is that Montana’s once-high-flying real estate market has come back to earth somewhat, and it’s taking longer for homes to move.
As of May, Montana homes were on the market for a median of 85 days before going under contract, according to Redfin. That’s about a month longer than it was taking to move the median listing back in 2022.
While the Cromwell Island property is admittedly an outlier in so many regards, its extended stay on the market is actually not so abnormal.
One of Wyoming’s luxury home listing, the Red Hills Ranch in Teton County, has been on the market for $65 million for about 700 days, or just shy of two years.
Meanwhile, it’s been almost a year since the country’s most expensive listing hit the market — a 74-acre property with a private lake in Aspen, Colorado, that’s listed for a cool $300 million.
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall) 
It’s been more than four years since Cromwell Island on the west side of Flathead Lake in northwest Montana went on the market. Will anyone buy their own private island for the $72 million asking price? The 45,000-square-foot French-style villa is unfinished inside. (Courtesy Hall and Hall)
No Changes To Property
Whoever does, eventually, buy Cromwell Island will be able to boast that they own the largest privately held island in freshwater.
They also can see out the vision of its prior owner, Bob Lee, a famous collector, conservationist and explorer who founded Hunting World in the 1960s and bought the island more than 40 years ago with his wife, Anne Brockinton Lee.
Nothing about the island or structures has changed in the past year since Cowboy State Daily last spoke with McDavid, he said.
The island is accessible year-round thanks to a custom-built barge and underwater agitators that ensure a less than 10-minute journey to nearby Dayton, even during periods when parts of the lake might freeze over.
In addition to the unfinished villa, there’s another structure on the island, a boat dock that can accommodate a 70-foot yacht, a shooting range, plenty of wildlife neighbors, and a front row seat to nearby Wild Horse Island, the largest island on Flathead Lake.
And in what’s thus far been a smoke-free and sunny summer, owners can enjoy what McDavid did on his most-recent visit.
“It was gorgeous,” he said. “It was a great day to be out there.”
