Ranch near Kremmling with its own ski slopes sells for $30M

This story first ran on BusinessDen.com, a BizWest news partner.

The buyers of a 6,343-acre ranch minutes away from Kremmling won’t have to worry about getting an Epic or Ikon pass for the ski season.

Elk Island Ranch, which sold for $30 million on Dec. 31, features its own private ski slopes, as well as a massive sledding hill. The listing dubbed the land  “a four-season recreational playground of the highest order.”

The buyer was Capstone Property Group LLC, records show.

Seller Charlie Gallagher purchased the ranch for $24.3 million in 1999, according to records.

Gallagher founded Denver-based Gallagher Industries private equity firm in 1986, according to its website. He developed the private ranch concept over the years for his family, according to 5280.

The founder hired Montana-based Kibo Group Architecture to design and Englewood-based Diamond Homes to build the 16,000-square-foot lodge on the property with five bedrooms and 12 bathrooms.

Elk Island Ranch also features a 10,500-square-foot party barn called the Nevada House Saloon with a built-in bar, catering kitchen, stage, dancefloor, upstairs bunkroom and a showroom for “historic ranch vehicles and collection of trophy game mounts,” according to the listing.

With nearly 10 square miles of land, the property houses an Outpost Chalet with two bedrooms for warming up after traversing the private slopes or for discussing the next big game during hunting season.

There’s also a 14,400-square-foot heated storage facility for all the gear and equipment, which was sold with the property, including a plow truck, snowcats, tractor, ATVs, and snowmobiles.

Elk Island Ranch, despite its private setting, is located less than 10 minutes from McElroy Airfield in Kremmling, which services large private jets. It was also once part of the 19,000-acre Grand River Ranch, which was donated to the University of Denver, and gives the owners access to Grand River’s equestrian center, fishing reservoir, dining venues and more.

Elk Island Ranch was previously listed as High Plains Ranch with an asking price of $39.8 million in 2016, according to a news release. Hall and Hall, a Montana-based rural real estate firm, began marketing it as Elk Island Ranch in 2018 with an asking price of $36 million. Brian Smith with the firm represented the seller.