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228 Elk Avenue

Crested Butte, CO 81224
  • $6,995,000
  • STATUS: Active
  • ON SITE: 17 Days
  • MLS #: 837410
UPDATED: 204 min ago
$6,995,000
  • 0
    BEDS
  • 0.07
    ACRES
  • 2
    BATHS
  • 0
    1/2 BATHS
  • 3,492
    SQFT
  • $2,003
    $/SQFT
Neighborhood:
Type:
Commercial
Built:
1882
County:

School Ratings & Info

Listing courtesy of LIV Sotheby's International Realty - CB: 970-349-6653.


Description

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.

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[Colorado Real Estate Network] logo The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2026. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Destination DRO Real Estate Group contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2026-08-09T23:56:24.36.
www.destinationdro.com/homes/179136692
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228 Elk Avenue Crested Butte, CO 81224

  • Price: $6,995,000
  • Status: Active
  • On Site: 17 Days
  • Updated: 204 min ago
  • MLS #: 837410
0
Beds
2
Baths
0
½ Baths
0.07
Acres
3,492
SQFT
$2,003
$/SQFT
1882
Built
Neighborhood:
Crested Butte (Town Of)
County:
Gunnison
Area:
Crested Butte
Property Description
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.
Exterior Features

Acreage Range Less than 1/2 Carport No Lot Dimension 25 x 125 Parking Spaces 2 Roof Metal Sewer Public Sewer Installed Stories 3 Street Description City/TownPaved Water Public Water Well No Waterfront YN No

Interior Features

Finished Sq Ft 3492 Flooring Wood Foundation Concrete Heating Fuel Source ElectricNatural Gas Heating System BoilerIn-Floor Radiant One Quarter Baths 2 Total Offices 0

Property Features

Available Utilities CableElectricInternetNatural GasSanitary SewerWater Books Available Yes Cam No Covenants NO Current Use RestaurantBarMixed Use Exchange Trade No Existing Utilities ElectricInternetNatural GasSanitary SewerWater Fixtures Included Yes Inventory Included Yes Lease Included Yes New Construction YN No Owners Association No Possible Property Use Bar/LoungeConvenience StoreMixed-UseRestaurantRetail Storefront Railroad Siding Spur No Real Estate For Sale Yes Reo Lender Owned No Tax Year 2025 Total Taxes 32105.35 Type Multi-Use w/Res Water Rights No Zoning Type Business

[Colorado Real Estate Network] logo The data relating to real estate for sale on this web site comes in part from the Internet Data Exchange (IDX) program of Colorado Real Estate Network, Inc. (CREN), © Copyright 2026. All rights reserved. All data deemed reliable but not guaranteed and should be independently verified. This database record is provided subject to “limited license” rights. Duplication or reproduction is prohibited.
FULL CREN Disclaimer

Real Estate listings held by companies other than Destination DRO Real Estate Group contain that company’s name.
Fair Housing Disclaimer

This data was last updated: 2026-08-09T23:56:24.36.
 
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Destination DRO Real Estate Group
1163 E 2nd Ave
Durango CO, 81301-5155
Listing courtesy of LIV Sotheby's International Realty - CB: 970-349-6653.