By Martin Kidston/Missoula Current
A Missoula brokerage firm that generally deals in large Western ranches said Wednesday it had completed the sale of a residential property that’s believed to be the most expensive home ever sold in Missoula.
The property, dubbed “The Farm at McCauley Butte,” was listed at $6.25 million and was on the market for 18 months. It was also in the running for the Wall Street Journal’s “House of the Year” in 2015.
“Our understanding is that it’s the most expensive residential sale in the Missoula market,” said Keith Lenard, a broker with Hall and Hall, which claims an office in Missoula. “It’s extremely hard selling homes in Missoula at that price point.”
Designed by Cutler Anderson Architects, the home boasts “architectural significance with a unique ex-urban location.” Completed in 2006, the 6,800-square-foot residence includes four bedrooms and five bathrooms, tapered columns and glass-paneled walls.
The property also claims nearly two miles of Bitterroot River frontage on 270 deeded acres, yet sits within a few minutes of Missoula’s urban amenities. The glossy brochure, circulated nationally, notes the proximity of the University of Montana and the “sophisticated restaurants, art galleries and specialty boutiques” that adorn the downtown district.
“That particular buyer had been looking a long time for something that would work for his entire family with urban amenities that still had some real Montana flavor,” Lenard said. “You’ve got fly fishing on the river and deer hunting on the property, yet you’re five minutes from a latte.”
Lenard believes that fewer than five homes valued at more than $2 million have sold in the Missoula market in recent years. The Missoula Organization of Realtor’s last annual housing report said 108 homes valued at more than $425,000 sold in Missoula in 2015.
MOR offers no statistics on homes valued at greater than $425,000. Yet while sales of multi-million dollar homes in Missoula are rare, Lenard believes the interest and activity is picking up.
“It seems like Missoula is starting to develop more cachet,” said Lenard. “I think buyers in the $2 million-plus range in Bozeman are quite common. In Missoula, we haven’t seen that emerging trend very much. But I’ve seen more wealth make its way into the Missoula market in the last couple years.”
The Farm at McCauley Butte also boasts an exercise room with floor-to-ceiling mirrors and geothermal radiant floor heat. The kitchen includes a Blue Star range with double ovens, while a climate-controlled wine room offers an 800-bottle capacity.
“After a satisfying day on the river, one can immediately transform to further indulgence selecting from your personal collection of fine wine,” the brochure says. As for the master bedroom, it offers views of the sky and river, offering an “endlessly diverse tapestry of light and color, all of which can be experienced from the comfort of one’s bed.”
Lenard said Hall and Hall offers an international marketing program that advertises high-end properties in the Financial Times, The Wall Street Journal and other glossy magazines. With the help of Live Water Properties, they were able to locate a qualified buyer looking to resettle in Missoula.
“It was another brokerage that brought the buyer in,” Lenard said. “They were well aware of this property and they managed to locate a buyer.”
Contact reporter Martin Kidston at email@example.com