Industrialist John Cleveland Osgood began prospecting Colorado for coal on behalf of the Chicago, Burlington and Quincy Railroad in 1882. By 1887 he had acquired vast coal mining resources and created Colorado Fuel Company, which five years later became Colorado Fuel and Iron Company in Pueblo.
In the process of setting the foundation for Colorado’s coal economy, building railroads that hauledthe Continental Divide, — a significant upgrade to the shacks where miners typically lived.
But no housing in Redstone was as opulent as the 42-room Tudor-revival mansion that Osgood built a mile away for Alma, his Swedish-born second wife. Completed in 1902, Cleveholm Manor, also known as Redstone Castle, will be sold at auction Friday morning. Minimum opening bid is $2 million — far less than the . (Ken Johnson, )
The castle, which sits on a prime 150-acre tract in Pitkin County, has been in only a few hands in its lifetime — each who had including building a 1,500–unit resort. Its current owner is a family trust controlled by real estate investor and part-time Aspen resident Ralli Dimitrius, who auctioneer Trayor Lesnock said has used the property for the occasional personal retreat .
The castle and many of its furnishings are part of the listing and must remain with the property — including light fixtures designed by Louis Comfort Tiffany.
“You can tell it’s an historic home,” said Lesnock, who is president and founder of “There are areas that are impeccable. For example, some of the doors are upholstered in elephant hide, but are in perfect condition. But there also is chipping paint.”
A caretaker has lived on the property for 17 years, he said.
In addition to the 23,000 square foot main house — 21 bedrooms, 14 full baths and two half baths — there is a 4,700 square foot guest house with three bedrooms, two full baths and a half bath, and an attached 12-stall carriage house.
Lesnock said auctioneers often get a kick out of trying to predict who the buyer might be for a property like the Redstone Castle.
“It could be anybody,” he said. “But in our estimation, we think there are two categories: A very wealthy individual, with high net worth, picking this up for kind of a fun thing to do. Or a body or entity — such as a hospitality group that has a commercial use in mind for the property, like a bed and breakfast, or someone who could make a robust run at a wedding and banquet hall, or a rehab center, or a specialized education center. Smallest category is someone who wants to make it their house.”
Lesnock isn’t handicapping who might emerge the winning bidder. But he did say Platinum has had a number of inquiries from people who own other historic hotels and resorts.
Whomever it is will need to have vision and the financial will to execute on any revenue-generating opportunities at the castle, .
If Cleveholm Manor does become an inn, its guests will be in good company. Lesnock said famous figures who visited Osgood there included Teddy Roosevelt, J.P. Morgan and John D. Rockefeller. In 2006, scenes from starring Christian Bale, Michael Caine, Hugh Jackman and Scarlett Johansson, were filmed there.
Want to get in on the bidding? You’ll have to pass a financial fitness test that begins with making a refundable $250,000 deposit by 5 p.m. Thursday. You can attend the auction, which begins at 11 a.m. Friday, send a surrogate or bid by phone. Doors open at 9 a.m. for inspection, and yes, there will be red carpets, velvet ropes and a little bubbly to kick off the bidding.
And remember, it’s an auction so there’s no inspection clause that will get you out of the deal if the upkeep of this champagne property doesn’t comport with your beer budget.
“It is as is, where is,” Lesnock said.
