5387 Castle Creek RoadAspen, CO 81612

HIGHLAND RANCH The Birthplace of Aspen Skiing There are estates in Aspen. There are ranches in Aspen. And then there are properties that helped create Aspen itself. Set along the banks of Castle Creek just minutes from downtown Aspen, Highland Ranch is one of the most historically significant private holdings in the Roaring Fork Valley. Home to the original Highland Bavarian Lodge, the first ski lodge in Aspen and among the earliest destination ski resorts in the American West, the property occupies a singular place in Colorado history. Long before Aspen became an international destination, skiers gathered here beneath Star Peak and the Five Fingers, establishing a legacy that would forever shape the future of the valley. Today, that legacy spans 58 pristine acres of riverfront, meadows, irrigated pasture, and private trails. More than a historic site, Highland Ranch is a fully realized luxury compound, meticulously restored for modern living. The estate currently offers 10 bedrooms, 8.5 bathrooms and a dedicated office and gym distributed across a remarkable collection of artfully renovated structures, creating a true multi-generational compound capable of hosting family, friends, and staff with exceptional privacy and comfort. At its heart is the historic Highland Bavarian Lodge and Bunk House, thoughtfully restored and transformed into an approximately 6,500-square-foot residence by internationally acclaimed design firm YODEZEEN. Overlooking a large private pond and the dramatic slopes of Star Peak, the home honors its remarkable heritage while delivering the level of craftsmanship, comfort, and sophistication expected of Aspen's most discerning buyers. Amenities include 7 bedrooms, a prep kitchen, dedicated fitness center, sauna, and beautifully curated living spaces designed for both everyday enjoyment and large-scale entertaining. Complementing the main residence are two guest residences, estate manager's residence, and dedicated art and office studio, creating extraordinary flexibility for entertaining, creative pursuits, remote work, and extended family stays. For equestrian enthusiasts, Highland Ranch is among the rare Aspen properties capable of supporting a meaningful horse operation. The ranch includes a six-stall barn with tack room and workshop, irrigated pastures, and several miles of private riding, hiking, and biking trails throughout the property. A substantial metal building provides exceptional flexibility and could serve as an indoor riding arena, sports court facility, wellness pavilion, collector car gallery, event space, or future recreational complex. What truly distinguishes Highland Ranch, however, is its combination of existing luxury and future possibility. The estate possesses entitlements for approximately 18,000 square feet of total development, including the ability to construct an additional residence of approximately 9,300 square feet while preserving the historic lodge compound as guest accommodations, family residences, an entertainment venue, or a private retreat. Opportunities of this scale, with this combination of acreage, water, privacy, history, and proximity to Aspen, are exceptionally rare and impossible to be replicated under today's regulations. Water, increasingly one of the West's most valuable assets, is abundant here. Significant water rights support productive meadows and agricultural uses, while extensive Castle Creek frontage, ponds, and riparian habitat create a landscape of remarkable beauty and ecological richness. Whether envisioned as a world-class equestrian ranch, a private family compound, a conservation-minded retreat, or one of Aspen's great legacy estates, Highland Ranch offers a combination of history, scale, water, privacy, and future development potential that is unlikely to ever be recreated. Few properties tell the story of Aspen. Fewer still helped create it.