This 1,100-acre Piece of Land in a Colorado Mining Town Just Hit the Market for $10 Million — and It Has Its Own Hot Spring

Evie Carrick
·2 min read
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Aerial view of Rico, Colorado
Aerial view of Rico, Colorado

Courtesy of Wes Oswald

There are certain real estate opportunities that make you sit up and pay attention. That's the case with a new listing outside Telluride, Colorado, that has a host of superlatives attached to it. The 1,100-acre parcel, branded Silver Springs at Rico, is the largest piece of undeveloped commercial property for sale in Colorado. And it is easily one of the most unique listings on the market.

Silver Springs at Rico is found near the historic mining town of — you guessed it — Rico, which sits at almost 9,000 feet above sea level and is surrounded by 12,000-foot mountains. The parcel includes property in Rico's downtown as well as 146 historic mines. And perhaps most notably, it's just over 30 minutes from Telluride Ski Resort — home to world-renowned skiing and biking — and has its own natural hot springs.

"The buyer could create a landmark hot springs resort hotel right on the Dolores River in downtown Rico. Zoning is already in place to accommodate the hotel, and the presence of hot springs is well established," Eric Saunders of Telluride Properties told Travel + Leisure via email. "Castle Hot Springs in Arizona comes to mind as an existing destination in this vein. But while Castle offers a magical experience with its relation to the desert, this site offers all the benefits of a mountain recreation resort: skiing, biking, fly-fishing and hiking."

In addition to a hot spring resort, the geothermal resource could be used to power the property — and even the local community. Saunders says the hot spring is of "sufficient scale to produce on-site energy to power a resort hotel, which could make it a net-zero building. Plus, it could be harnessed to power local greenhouses for farm-to-table produce cultivation, plus generate additional power that could be used by the community."

In tandem with a hot spring resort, zoning allows the land to be used for a large-scale housing development, a resource that is in high demand. In addition, some of the land can be exchanged through the U.S. Forest Service for property in another Colorado town, including mountain destinations like Aspen or Vail.

"We expect the property to sell this year. We're soliciting initial interest right now, and will begin property tours in late May as the snow has cleared," Saunders said. "Silver Springs at Rico has all the hallmarks of a great travel and leisure destination."

Silver Springs at Rico is being sold by Saunders of Telluride Properties and Mark King of Solutions RE on behalf of the owner. Learn more about the $10-million listing here.