realestate

Aspen Estate Built by JCPenney Executives Seeks $30M

Sage Ridge, a four-bedroom Pitkin County estate, lists for $30 million.

P
eter McGrath and his wife Janet Fox transformed a neglected Pitkin County property into an upscale home with modern amenities. The estate, known as Sage Ridge, is now on the market for $30 million. Located in Snowmass, the single-level, 5,750-square-foot home boasts breathtaking views of the Elk Mountain Range and the entire valley.

    The couple spent over three years building the home, which features 16-foot triple pane windows, a gym, office, state-of-the-art sauna, hot tub, fire pits, and an outdoor kitchen. McGrath worked closely with Aspen-based architect Luis Menendez to design the property, which was previously filled with debris, barbed wire, and an abandoned train caboose.

    The property's unique name, Sage Ridge, was inspired by the abundant sagebrush on the land and its location on a ridge. McGrath spent hours researching designs online to create the perfect home, focusing on maximizing the stunning views of the valley. The infinity line lawn, which overlooks the valley from Mount Sopris to the Continental Divide, is particularly striking.

    The property's transformation was not without challenges. Broker associate Ann Abernethy recalled that the site was initially plagued by debris and barbed wire, with a caboose on rails that had to be removed. The couple purchased the property in 2020 for $2.3 million and spent over three years cleaning up the site and building the new home.

    Sage Ridge features 40 solar panels and five Tesla Powerwalls in the garage, which capture energy and sell it back to the grid, making the cost of operating the house very efficient. The property's restrictive building regulations and energy requirements added to the complexity and expense of the project.

Aspen estate built by JCPenney executives for sale at $30 million price tag.