One of Telluride's most cherished landmarks, Bear Creek Falls, is up for grabs. Ever since it was listed by Pagosa brokerage Best of Pagosa Springs earlier this month, just about every Telluride real estate broker's phones have been overwhelmed with messages about this surprising property listing, accompanied by questions such as, "Is this real?" The answer is a resounding yes—the famed Bear Creek Falls is indeed for sale, stirring quite the conversation. Let me explain.

Understanding the Property

The Bear Creek Trail is primarily incorporated within the Bear Creek Preserve, which is owned by the town of Telluride. However, the stunning falls themselves, along with approximately 33 acres of land, are privately owned through a series of mining…

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