Billionaire Koch Brother Reduces Price of Aspen’s Most Expensive Home to US$80 Million

SLIDESHOW: When it was first re-listed for US$100 million, Bill Koch’s Elk Mountain Lodge was one of the priciest homes for sale in the US.

Bill Koch re-lists his 28-bedroom, 82-acre alpine estate in Aspen for a second time — now for a bargain price representing 20 percent off its original ask.

When it first hit the market two years ago, owner Bill Koch valued his 55-acre and 14,000-square-foot Aspen, Colorado, home for close to US$90 million. The billionaire businessman quickly pulled it off the market only to put it back on again after chalking up the price to an astonishing amount of US$100 million.

The grandiose offer was justified by the inclusion of three other lots, ballooning the compound to almost 83 acres, settled between West Aspen’s Elk Mountains and Castle Creek. Known as Elk Mountain Lodge, it was one of the priciest homes for sale in the US at that time.

Now, represented by a different property firm, the compound has been re-listed for a less mega but still substantial US$80 million. Managed by Douglas Elliman Real Estate, the property can be broken down into four individual parts, which are separately available for purchase. The main house and the three other parcels are offered for US$60 million, US$8.3 million, US$7.3 million and US$4.2 million, respectively.

Located about 15km from Aspen’s downtown, Elk Mountain Lodge is a historic property. The 1907 main house was a well-known guest ranch in the 1930s and transformed by Koch, founder of mining company Oxbow Corporation, into a single-family home from an event venue when he purchased the homestead for about US$26 million in 2007, as reported by The Wall Street Journal.

According to the listing, the whole compound now boasts more than 40,000 square feet of residential space, including 12 buildings and 28 bedrooms. The eight-bedroom main lodge features a 20-seater dining area; humidified wine room; a 1.5m-tall basement crawl space modelled as a princess play room for Koch’s daughters; and a media room that doubles as an altitude acclimation room, as the property is set at an elevation of almost 3,000m.

The three other parcels are small and quaint in comparison, with the cabins ranging from 2,600 to 4,100 square feet in size. The biggest is the Crystal Cabin. Its 21 acres of land also houses an indoor sports centre and basketball court.

Other amenities on the property include a gym, outdoor hot tubs, stocked trout ponds, wood-burning fireplaces, as well as a wood-burning stove in one of the bedrooms.

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