Organized in 1883 in Scotland, the Swan Company was one of the largest ranching operations in the nation in the late 19th and early 20th centuries, managing more than one million acres of land.

The four surviving buildings are arrayed in a north-south line along Happy Hollow Road, a former stagecoach route.

To its south is the former manager's residence, built in 1876 and featuring some finely crafted Stick style decoration.

At its peak in 1887-88, the company had more than 113,000 head of cattle and controlled more than one million acres of rangeland across eastern Wyoming and western Nebraska.

The company began liquidating its holdings in 1945, and it managed just 5,400 acres (2,200 ha) when this property was designated a National Historic Landmark in 1964.