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

erickson ranchMountain 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.

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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.

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.

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.

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.

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.

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.

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

Erickson Ranch sits on an 11.79-acre lot.

Erickson Ranch sits on an 11.79-acre lot.

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

The glass-front home, built in 2002, was designed by architect Harry Teague. The home spreads across a total of 6,802 square feet.

The glass-front home, built in 2002, was designed by architect Harry Teague. The home spreads across a total of 6,802 square feet.

Source: Wall Street Journal, Christie's International Real Estate, Bloomberg

Inside the home, a spacious living room area offers plenty of seating. The massive room is complete with high ceilings, a fireplace, and a bay window bench seat.

Inside the home, a spacious living room area offers plenty of seating. The massive room is complete with high ceilings, a fireplace, and a bay window bench seat.

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

Nearby is an artfully designed staircase that opens up to a second-floor balcony overlooking the surrounding forest.

Nearby is an artfully designed staircase that opens up to a second-floor balcony overlooking the surrounding forest.

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

Other outdoor features include the patio space, which is complete with a table for six and a large grill.

Other outdoor features include the patio space, which is complete with a table for six and a large grill.

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

Meanwhile, the grand kitchen has tiled floors, granite countertops, and stainless steel appliances, including a massive stove surrounded by ample counter space.

Meanwhile, the grand kitchen has tiled floors, granite countertops, and stainless steel appliances, including a massive stove surrounded by ample counter space.

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

The kitchen leads into the dining area, which has additional couch seating.

The kitchen leads into the dining area, which has additional couch seating.

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

Each of the seven bedrooms offers different amenities ranging from a built-in fireplace ...

Each of the seven bedrooms offers different amenities ranging from a built-in fireplace ...

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

... and large windows that look directly out onto the mountain ...

... and large windows that look directly out onto the mountain ...

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

... to wood-paneled ceilings and vintage furniture.

... to wood-paneled ceilings and vintage furniture.

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

All five full baths include modern decorations and vary slightly in design.

All five full baths include modern decorations and vary slightly in design.

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

The upstairs also features an office space with large bookshelves and plenty of desk space.

The upstairs also features an office space with large bookshelves and plenty of desk space.

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

The mansion is near the estate's barn, which — along with the caretakers' house — is a shared element of the surrounding lots, all of which overlook the Red Mountain area.

The mansion is near the estate's barn, which — along with the caretakers' house — is a shared element of the surrounding lots, all of which overlook the Red Mountain area.

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

Once a small mining town, Aspen is now home to countless other multimillion-dollar mansions. The area currently ranks as a top ski destination for the global ultra-prime market, according to previous reporting from Business Insider's Lina Batarags based on a Knight Frank report.

Once a small mining town, Aspen is now home to countless other multimillion-dollar mansions. The area currently ranks as a top ski destination for the global ultra-prime market, according to previous reporting from Business Insider's Lina Batarags based on a Knight Frank report.

Source: Business Insider, Bloomberg, Knight Frank

Alongside three other ski destinations — St. Moritz, Courchevel, and Gstaad — Aspen has "... seen at least three home sales over $25 million every year for the past three years running." Though its local population is small, it continues to be a haven for wealthy families and celebrities.

Alongside three other ski destinations — St. Moritz, Courchevel, and Gstaad — Aspen has "... seen at least three home sales over $25 million every year for the past three years running." Though its local population is small, it continues to be a haven for wealthy families and celebrities.

Source: Business Insider, Knight Frank

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