A sizable chunk of a town in southwestern Colorado that was once a silver mining center is on the market for $10 million.
Located at 0 North River Street in Rico, the site is made up of more than 1,100 acres and 181 parcels. Comprised of some structures and much open land, the property is being billed as the largest mass commercial listing in the state.
Rico saw an explosion of activity in the late 1800s as silver mining spurred the town’s population from less than 500 to more than 5,000 people over a two-decade period.
That boom led to the construction of any number of structures, including two churches, a theater, courthouse, and nearly two dozen saloons. Some of those structures, such as the Dey Building, with a saloon on the ground floor and office on the second level, have since been listed on the National Register of Historic Places.
The town’s industry was hit hard by a national economic recession before the turn of the century. With silver mining declining precipitately in the years to come, Rico’s population, according to the Census Bureau, dropped to 76 people by 1980.
But the town in the last decade has enjoyed something of a comeback, with a current population of around 250. According to a market commentary provided by Telluride Properties, which is listing the 1,100 acres for sale, “approximately 30 new, young families have relocated to Rico in the last two years, the energy and enthusiasm is palpable.”
Officially listed as the Silver Springs at Rico, the site is located within a designated Opportunity Zone, and is adjacent to an extensive network of biking, hiking, and horseback trails.
By Garry Boulard
