By: River Stingray (rstingray@aspentimes.com)
After heading to a public, no-reserve auction earlier this month, William I. Koch’s 52-acre legacy ranch known as Elk Mountain Lodge is under contract for $33.515 million.
The highest bid is a dramatic discount from the property’s peak asking price of $125 million in 2025, which then dropped to $99 million before heading to auction with Concierge Auctions, in cooperation with Steven Shane of Compass. Concierge Auctions opened bidding at $30 million, according to a July 13 press release.
“I think the buyer got a steal,” Chris Klug of Chris Klug Properties told The Aspen Times. “Why did it trade how it did?”
According to Klug, many current buyers are looking for more mountain contemporary or mountain minimalist design as opposed to the traditional lodge style. He also highlighted that the upkeep of such a large property — maintenance and management — can be daunting for many.
The ranch is located at 125 Rooney Circle, 11 miles from Aspen down Castle Creek Road. While it does require a drive to and from town, its location offers direct access to the American Lake Trailhead, Pine Creek Cookhouse, Nordic skiing trails and more. The compound boasts 25,277-square-feet, including eight structures, two ponds, river frontage and Elk Mountain views.
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