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Rich Guy Gives Up Dreams of Alice Waters' Cooking School

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Location: Livingston, Mont.
Price: $13,250,000
The Skinny: After insurance millionaire Wade Dokken dropped $23.5M in 2005 for 11,000 acres of pristine Montana ranch land, he dreamed of turning the place into a luxury development, with a culinary school run by Chez Panisse legend Alice Waters. Thanks, probably, to the economic downturn, Dokken's grand scheme never came to fruition, so instead he decided to try to find another really rich guy to buy a little more than half the acreage, 6,259 acres to be exact, for $30M. That property, known as Bullis Creek Ranch, has just returned to market after a hiatus with a drastically reduced price: $13.25M. Located in close proximity to Bozeman and Big Sky ski resort, the ranch boasts a 9,000-square-foot log home, offered fully furnished.
· Bullis Creek Ranch [Hall & Hall]