What's Happening?
The Medicine Hot Springs estate, located in Montana's South Bitterroot Valley, is set to be auctioned without reserve on March 10 by Elite Auctions. The property, currently listed for $7,950,000, spans 119 acres and offers both residential and potential commercial use. It includes a 3,797-square-foot main residence, 12 guest cabins, and a gathering space known as the East Game Lodge. The estate is equipped with a 2,046-square-foot hot springs pool, a hot tub, and historic soaking tubs, all filled by chemical-free hot springs. The property holds senior geothermal water rights dating back to 1908. Surrounded by U.S. Forest Service land, it provides access to outdoor activities such as fly-fishing, hiking, and hunting. Open houses are scheduled
to begin on February 21, with the auction taking place on-site.
Why It's Important?
The auction of the Medicine Hot Springs estate represents a significant opportunity for potential buyers interested in unique real estate investments. The property's historical significance, dating back to its operation as a healing bathhouse in 1908, adds to its allure. Its location in a prime outdoor recreational area enhances its value, appealing to those interested in tourism or hospitality ventures. The auction without reserve indicates a potentially competitive bidding process, which could influence local real estate market dynamics. Additionally, the estate's geothermal water rights and natural hot springs offer unique commercial possibilities, potentially attracting investors looking to capitalize on eco-friendly and wellness tourism trends.
What's Next?
Following the auction, the new owner of the Medicine Hot Springs estate will have the opportunity to develop the property for various uses, potentially enhancing its commercial appeal. The estate's proximity to outdoor recreational activities and its historical features could be leveraged to attract tourists and visitors. The outcome of the auction may also impact local real estate values and set a precedent for future property sales in the area. Stakeholders in the tourism and hospitality sectors will likely monitor the auction's results closely, as it could signal broader trends in the market for unique and historically significant properties.
