The Hot Springs Ranch, 45 miles north of Ketchum, was homesteaded by Dave and Louise Clark in 1890 and was the first ranch to be settled in the Sawtooth Valley, according to a 1976 history. It's now part of the Sawtooth National Recreation Area.
Emmy Blechmann, of Ketchum, and her late husband bought the ranch in the late 1960s. Most of it lies in Custer County, with a portion in Blaine County.
"Emmy adores the ranch but is looking at simplifying her life and unwinding various real estate holdings," said listing agent J. Trent Hall, of Hall and Hall in Sun Valley.
The Salmon River runs along the 360-acre property's western edge, and a geothermal spring on the property supplies hot water for a pool. Taxes are low because the land is agricultural.