A ranch that belongs to one of the founding families of Aspen just hit the market for $18 million — here’s an inside look at the sprawling property

Mountain Home Photo

• A mansion at the base of Red Mountain in Aspen, Colorado is now up for sale for $18 million.
• A 10-minute drive from the city center and the area’s ski resorts, the 7-bedroom luxury home sits on 12 acres of private property. 
• The owner’s father helped establish Aspen as a vacation destination, a city now known for its skiing and luxury resorts.

Walter Paepcke is considered one of the founding fathers of Aspen. Now, his estate is on the market.

According to a recent report from Bloomberg, the property — currently owned by his daughter Paula Zurcher and known as Erickson Ranch — is listed with Christie’s International Real Estate for an asking price of $17.95 million. Aspen, once a small mining town, is now home to many luxury residences and has long been regarded as a popular ski destination.

Read more: There are 4 ski destinations in the world where homes consistently sell for over $25 million, and only one of them is in the US

The home includes seven bedrooms and 5.5 baths, and sits on almost 12 acres of land. It is considered the largest, most private lot on Red Mountain.

While the main house was built in 2002, the Paepcke family has owned the land for 70 years. According to Bloomberg, the family began dividing the original 400 acres purchased by Walter Paepcke following his death in 1960. Today, four lots remain — each around 12 acres — surrounding a 51-acre common area. The largest, his daughter’s property, contains the Erickson Ranch mansion. Two of the other lots also feature residences built in the early 2000s, while the last one remains empty and is under construction for new development.

Paepcke and his wife, Elizabeth, founded the Aspen Music Festival and School, Aspen Institute, and Aspen Skiing Company, which includes all four major resorts in the area.

Keep reading for a complete look inside the property, from its spacious living room to its upstairs office space.

Erickson Ranch, an $18 million property, is located just 10 miles from the center of Aspen, Colorado, and its surrounding ski resorts. Aspen is a top-rated ski area, roughly 3.5 hours from the capital city of Denver.

Cavan Images/Getty Images

Source: Google Maps

Built on property owned by the Paepcke family, who spearheaded Aspen’s ski resorts, the home sits on Lot 1 overlooking the common area. Each of the lots is roughly 12 acres in size.

Mountain Home Photo

Source: Wall Street Journal, Christie’s International Real Estate

Nestled at the base of Red Mountain, the ranch is rather remote, though it is still accessible by road. The mansion overlooks the ranch’s wooded common area.

Mountain Home Photo

Source: Wall Street Journal, Christie’s International Real Estate

See the rest of the story at Business Insider

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Source: Business Insider – feedback@businessinsider.com (Marissa Perino)