Industry News
A sprawling estate in Aspen, Colorado, has hit the market for $125 million, making it the most expensive real estate listing in state history. The 53-acre compound, dubbed Elk Mountain Lodge, is located on 125 Rooney Circle in Pitkin County, and features eight structures totaling 25,277 square feet, including a 16,600-square-foot main lodge with seven bedrooms and eight bathrooms. Once part of a larger property, the estate belongs to billionaire industrialist Bill Koch, who originally purchased the land in 2007 for $26.5 million and has since expanded and renovated it into a private retreat.
Koch is a member of the Koch Industries oil dynasty. He sold his stake in Koch Industries to his brothers Charles Koch and the late David Koch in 1983 before founding the Oxbow Group, an energy development company. Koch first listed the Aspen property for $100 million in 2015 before dropping the price to $80 million in 2016. He later sold 31 acres for $14.5 million in 2020, leaving the current 53-acre offering, which has been listed for rent in recent years at $35,000 per night or $300,000 per week. With his children grown, Koch and his wife, Bridget Rooney Koch, decided it was time to sell.
The estate blends rustic charm with modern amenities, featuring towering ceilings, authentic timber beams, and panoramic views of the Elk Mountain Range. The property includes private ponds, hiking and cross-country ski trails, two hot tubs, and a 3,100-square-foot gym cabin. It is located roughly 10 miles from downtown Aspen, a market where luxury real estate prices have surged. The median sale price for an Aspen single-family home in the first half of 2024 reached $13.23 million, more than double that of 2016, according to Sotheby’s International Realty.
Despite the estate’s seemingly hefty price tag, the $125 million actually works out at roughly $5,000 per square foot—$1,000 per square foot below Aspen’s luxury real estate average of $6,000 per square foot. The market has seen record-breaking sales, including a $108 million deal in 2023 for an estate at the base of Red Mountain, purchased by casino magnate Steve Wynn and financier Thomas Peterffy. With ultraluxury demand rising, Koch’s estate now enters the market as Aspen’s priciest listing, targeting a select pool of high-net-worth buyers.
