Just twenty minutes outside of downtown Aspen is Two Mile Ranch, a sprawling property that boasts 244 acres of which 170 are under a conservation easement protection. The property just hit the market for a whopping $68 million and aside from the expansive estate, with that price comes a total of 22 bedrooms, a storybook-style main residence, and a whimsical Hobbit House.  

The ranch is centered on 2 miles of private and pristine Woody Creek, which runs the entire length of the ranch, offering abundant water to the 60 plus acres of irrigated pastures, ponds and water features. Local Colorado investor Pat Scanlan bought the Woody Creek compound in 2021 for $20 million but he never actually lived there. Instead, he put hard work and money into renovating the existing structures and spent roughly about $8 million doing so.

He modernized the circa 1800s log cabin and turned it into a casino/game room. He also made significant upgrades to six other outbuildings in the compound including an Aspen-inspired lodge, a Craftsman home, a manager’s house, and a bunkhouse. The main house of Two Mile Ranch dates back to 2007 and it sits on 60 acres of land at the heart of the property.  It features an open timber truss design topped with a custom Italian slate roof. It has a two-car garage, a separate wing with a secondary bedroom aside from the main suite found on the first floor. The main bedroom leads out to a patio, a hot tub, and a pool. 

But the main attraction of Two Mile Ranch is the so-called three-bedroom Hobbit House which has a lot of surprises up its walls. To enter, guests step into a mudroom designed as a library. A specific book from the shelf acts as a lever that when pulled reveals the entry to the cottage. Moreover, an entire bedroom wall in one of the bedrooms unfolds to the outdoors. The wall works similar to a drawbridge and a platform that wheels your bed to a patio so you can sleep under the stars.

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Images courtesy of Raifie Bass of Douglas Elliman