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7-home Colorado compound sells for $20M (Photos)

A prime ranch property just up the road from Aspen sold for $20 million after a year and a half on the market.
Credit: Compass Aspen
2 Mile Ranch is home to seven homes across its 244 acres.

ASPEN, Colo. — A prime ranch property just up the road from Aspen sold late last week for $20 million after a year and a half on the market.

Most recently called 2 Mile Ranch, the property features seven houses with 22 bedrooms and 23 bathrooms across 244 acres in Woody Creek. It was listed for sale in late December 2019 for $24.9 million.

While interest in the Aspen-area market was strong during the pandemic with wealthy buyers fleeing major cities, this unique property proved complicated to sell, listing agent Lane Johnson, with Compass Aspen, told the Denver Business Journal, a Dallas Business Journal sister publication.

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The many buildings on the property enticed potential buyers who sought to split up the property, turn it into a spa or find other potential commercial uses despite restrictions that require the property to remain intact. County and caucus negotiations over the property restrictions were challenging and the ranch also costs about $1 million a year to maintain, Johnson noted.

"Thank goodness we just ran into a local guy who lives down the street that decided, you know, why not just pick up another 250 acres," Johnson said.

Click through the slideshow here to tour the ranch's homes and property. 

Public records show the buyer as four numbered LLCs with a common name of Woody Creek Commune. The sale closed on April 22 — 482 days after the property was listed.

While the property sat on the market, Pitkin County was having a record year with sales volume totaling $3.1 billion, according to The Aspen Times. The average single-family home in Aspen sold for more than $11 million in 2020, the paper reported.

Formerly known as Rosemary’s Circle R Ranch, the compound located at 3448 Woody Creek Road sold at auction in August 2018 for $12.75 million. It was developed by brothers Sam and Charles Wyly in the early 2000s and first went on the market for $59.5 million after Texas businessman Sam Wyly declared bankruptcy in 2015, according to The Aspen Times.

The property was then purchased by a development group out of Dallas operating under the name MM Rosemary Circle, an LLC tied to the same address as Centurion American Development Group.

"They purchased the property and made pretty substantial improvements to each of the homes," Johnson told DBJ in January 2020. The group worked to modernize the homes to fit in with the "mountain contemporary feel" that is popular in the Aspen area, Johnson said in 2020.

Spread across the 2 miles of Woody Creek that run through the property are seven homes. They include:

  • The 5,850-square-foot Woody Creek estate at the base of the property features five bedrooms, four bathrooms and a private pool and hot tub.
  • The craftsman house is a 4,250-square-foot four-bedroom, three-bathroom home on the north side of the property along the creek.
  • The bunkhouse is a mountain cabin with a master bedroom, guest suite with four Murphy-style bunk beds, a private loft with a queen-size bed and two full baths.
  • At center of the property, the 3,650-square-foot, two-bedroom and two-bathroom cottage features an outdoor bed perfect for stargazing, secret passages, a library and an antique elevator.
  • The Aspen lodge has four bedrooms, including master and guest suites, four bathrooms and a private in-home office. It is located near the Woody Creek estate.
  • Set at the entrance to the property, the village has two small homes, one with an efficient kitchen, bath and loft sleeping area and the other with three bedrooms, two bathrooms with updated finishes and a rustic feel.

Beyond the compound's existing homes, there is a mix of cabins, storage and agricultural buildings, an outdoor recreation facility, a full-size basketball and tennis court, and a barn that's perfect for open-air entertaining, Johnson said. There are also two natural ponds, a private tree farm, and an outdoor gazebo.

The ranch is also set next to National Forest land and offers world-class fishing, snowmobiling, four-wheeling, horseback riding, cross-country skiing, and private-land hunting.