Residential · Pending

507 First

Crested Butte, CO 81224

3 Beds · 3 Baths · 2,069 Sq Ft

$6,995,000

Single Family

Property Type

0.18 acres

Lot Size

2001

Year Built

$3,381

Price per Sq Ft

835650

MLS #

About This Property

BEAR ALLEY - Unwrap the fairytale - A Once-In-A-Lifetime Creekside Compound: Tucked away on a private alley in the most desired west side of town – this enchanting creekside compound is a secret sanctuary, impossible to replicate in character or setting. Hidden along 200 feet of riverfront on Coal Creek, BEAR ALLEY is a first-time-to-market treasure. There is nothing like it. There never will be.

Featured in premier architectural lifestyle publications and showcased on HGTV and recently selected as the Wall Street Journal's House of the Week, BEAR ALLEY is a masterful blend of scale, artistry, light and privacy. It’s unique character of warmth and magic leaves visitors captivated, charmed, and breathless. Historic Charm Meets Artisan Craftsmanship: Constructed in 2001, the property incorporates two original 100-year-old coal sheds — meticulously restored and grandfathered-in as livable spaces that offer both personality and a timeless connection to Crested Butte’s past. The historic structures are seamlessly fused with custom craftsmanship throughout.

The home’s open floor plan is anchored by soaring 30-foot ceilings and massive beams salvaged from the largest, century-old warehouse on the Columbia River. Original iron bolts remain intact, lending authenticity and character rarely found in modern construction. The exterior timber on the main house was sourced from Montana’s Elkhorn Mine – weathered lumber as old as the original coal sheds, blending with the home’s aged patina. The line between old and new vanish in the craftsmanship, At the heart of the home lies its true masterpiece: 18-inch-wide Eastern Heart Pine floors, reclaimed from an 18th-century Virginia barn.

Civil War soldiers once walked these planks – each board carrying the weight of history. The Master Wing: A Private Sanctuary: The master bedroom wing is a private retreat all its own – a former coal shed now transformed into a sanctuary just inches from your own stretch of Coal Creek. Above the bed, skylights frame the full moon; below, the soothing sound of running water lulls you to sleep. This spacious master suite features a kiva-style gas fireplace, an Ann Sacks soaking tub, custom concrete sinks, and Sonoma Forge fixtures – all accenting the combined bedroom and bathroom experience.

The Bunkhouse: Whimsey For A New Generation The BUNKHOUSE – a third bedroom that sleeps four – is the second restored outbuilding, offering children their own whimsical world just steps from the main house. Part fort, part hideaway, it captures the spirit of Crested Butte’s slightly askew and delightfully untraditional approach to living. A Setting Like No Other: Shaded by Crested Butte’s oldest and most majestic cottonwoods, every door opens to a private interior yard where wildflower gardens bloom, a creekside flagstone patio invites al fresco dining, and a hot tub rests at the water’s edge. Here, barefoot relaxation is a way of life — even from a lounge chair set right in the creek.

Secluded at the end of this dead end gravel lane, BEAR ALLEY is free from traffic, tourists and noise – yet just two blocks from the vibrant energy of Elk Ave. Upscale dining, boutique shopping, day spas and lively bistros are steps from your front door, while hiking and biking trails, schools, churches, and ice rinks are all within easy walking distance. Only one other home shares this private alley, offering the rare luxury of living in town with unmatched privacy. More Than A House – A Legacy: A legacy like this cannot be built again. This is more than a residence – it is a generational sanctuary. A rare offering of privacy, location, water and soul.

137 days on market

Listed by Channing Boucher · LIV Sotheby's International Realty - CB · H: 970-596-3228

Last updated: 9/23/2026 7:24 PM · Source: Colorado Real Estate Network (CREN), MLS#: 835650

Property Details

Key Details

Property Type Residential
Sub Type Single Family Residence
Status Pending
Price per Sq Ft $3,381
Subdivision None
MLS # 835650
Days on Market 137
Bedrooms 3
Full Baths 1
Three-Quarter Baths 2

More Details

Year Built 2001
Lot Size (Sq Ft) 7,841
Acres 0.18
Annual Taxes $12,697
Tax Year 2025
State CO
County Gunnison
Zoning Residential Single Family

Interior

Interior Features Vaulted Ceiling(s), Guest Quarters, Hot Tub
Heating Fireplace(s), Radiant Floor, Boiler
Flooring Hardwood, Tile
Fireplace Features Bedroom, Living Room
Appliances Dishwasher, Disposal, Dryer, Exhaust Fan, Oven, Refrigerator, Washer

Exterior & Parking

Exterior Features Hot Tub, Irrigation Water, Lawn Sprinklers
Garage No
Roof Metal

Building & Lot

Architectural Style Other
Construction Wood Siding, Post & Beam
New Construction No

Location

Price History

DateEventPrice
9/21/2026 Pending
Source: Colorado Real Estate Network (CREN) #835650
—
6/5/2026 Listed for sale
Source: Colorado Real Estate Network (CREN) #835650
$6,995,000 $3,381/sqft

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Listing information last updated September 23, 2026 at 7:24 PM.

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