Commercial Sale · Active
Crested Butte, CO 81224
4 Baths · 3,492 Sq Ft
$6,995,000
Mixed Use
Property Type
0.07 acres
Lot Size
1882
Year Built
$2,003
Price per Sq Ft
837410
MLS #
About This Property
Some buildings simply occupy a place on Elk Avenue. Others help define it. For well over a century, 228 Elk Avenue has been intertwined into the daily life of Crested Butte. Built around 1882, this landmark property has welcomed generations of locals and visitors alike, from its early days as a neighborhood grocery store to its current role as the longtime home of McGill's, one of downtown's favorite breakfast and lunch destinations.
Today, the opportunity extends well beyond the building itself. Included in the sale is the established McGill's restaurant, allowing a new owner to continue a successful business with a loyal customer base and strong local recognition. At the same time, the property's mixed-use zoning and highly visible Elk Avenue location create the freedom to reimagine the space with an entirely new concept, should a different vision take shape. Thoughtfully renovated in the mid-2000s, the building balances historic authenticity with modern functionality.
Extensive structural and mechanical upgrades including electrical, plumbing, heating, foundation, roof, and drywall improvements were completed while preserving the character that makes the property so memorable. Original hardwood floors, restored architectural details, and timeless craftsmanship continue to tell the story of its past. Above the commercial space, a spacious two-bedroom, two-bath residence with a loft adds another layer of versatility. Whether used as an owner's retreat, employee housing, long-term rental, or live-work residence, the upper level offers flexibility that is increasingly rare in downtown Crested Butte.
Positioned in the center of one of Colorado's most celebrated mountain towns, just steps from restaurants, galleries, boutiques, and year-round community events, 228 Elk Avenue offers something that cannot be replicated: an authentic piece of Crested Butte's history paired with the opportunity to shape its future. Whether preserving a beloved local institution or introducing the next great chapter on Elk Avenue, this is a property where history, community, and possibility come together.
89 days on market
Listed by Betsy Wiebe · LIV Sotheby's International Realty - CB · 970-209-8643
Property Details
| Property Type | Commercial Sale |
| Sub Type | Mixed Use |
| Status | Active |
| Price per Sq Ft | $2,003 |
| Subdivision | Crested Butte (Town of) |
| MLS # | 837410 |
| Days on Market | 89 |
| Full Baths | 1 |
| Three-Quarter Baths | 1 |
| Year Built | 1882 |
| Lot Size (Sq Ft) | 3,049 |
| Acres | 0.07 |
| Annual Taxes | $32,105 |
| Tax Year | 2025 |
| State | CO |
| County | Gunnison |
| Zoning | Business |
| Heating | Boiler, In-Floor Radiant |
| Flooring | Wood |
| Roof | Metal |
| Sewer | Public Sewer |
| Water Source | Public |
| New Construction | No |
Location
Price History
| Date | Event | Price |
|---|---|---|
| 7/23/2026 |
Listed for sale Source: Colorado Real Estate Network (CREN) #837410 |
$6,995,000 $2,003/sqft |
| 7/21/2026 |
Listed for sale Source: Colorado Real Estate Network (CREN) #837411 |
$6,995,000 -3.5% $2,003/sqft |
| 2/4/2026 |
Listing removed Source: Colorado Real Estate Network (CREN) #811584 |
— |
| 3/11/2024 |
Listed for sale Source: Colorado Real Estate Network (CREN) #811584 |
$7,250,000 $2,076/sqft |
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