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

While the main house was built in 2002, the Paepcke family has owned the land for 70 years. According to, 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.

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