The iconic El Rancho restaurant and event venue in Evergreen, a community landmark for more than 75 years, is in search of a new owner or operator to lead it into a new era. Earlier this year, convenience store chain QuikTrip (QT) acquired the land on which El Rancho sits, raising questions about the venue’s future. However, QT has acknowledged the property’s cultural and historic value to the community and has expressed willingness to assist in relocating the structure across the road—if a new owner can be secured. Time is limited, with only a few months remaining to identify a viable successor for the beloved gathering place.
JLL’s Stephen Markey and Sarah Sparks are marketing El Rancho for sale on behalf of Observatory Holdings LLC.
As part of the plan to move the building from its original location, local developers Observatory Holdings have earmarked a lot for El Rancho in their development located directly across Highway 40, once a new owner/operator is identified.
“This new location boasts far better views of the Continental Divide, and high visibility for travelers on I-70,” said JLL’s Markey. “El Rancho was originally built as a roadhouse for travelers, and that’s the legacy we all hope continues. It lost that visibility when Highway 40 was replaced by I-70 as the main route west.”
“While there is no obligation to move El Rancho, we see this as a unique opportunity to breathe new life into this business,” stated Jack Buchanan on behalf of the developers. “In addition to the improved location, placing it on a new foundation will eliminate a lot of the costly infrastructure issues that plagued the business in recent decades, and will set the site up for success for years to come.”
Besides the increased business driven by the new QuikTrip, El Rancho would also benefit from proximity to a new Marriott-branded hotel to be located within the development. The growing community of Evergreen, robust events climate, and increasing number of travelers along I-70 all point to the need for more lodging and events venues.
Colorado-based Mammoth Movers was consulted to discuss the viability of moving El Rancho across the street. Mammoth confirmed that it is possible to move the historic part of the building—including the old post office, bar, main dining room, and upper level. Structural engineers have also been onsite and confirmed the move’s feasibility.
Once a new owner/operator is identified, developers propose to complete prep work on the new site, build a new foundation, and move the El Rancho structure. The new building owner would then complete renovations, thereby giving them control over costs and preferences regarding finishing the property. Potential investors may be available for the right owner/operator.
“The intention is to make this process financially attractive for a new operator,” said Buchanan. “This is a great opportunity to reimagine an iconic property and repurpose it for a low cost.” The price tag will include about $1 million in nearly-new brewing equipment. Developers will not move El Rancho unless a new owner/operator has been identified. Buchanan says, “The costs associated with the move are substantial, and it makes no sense to undertake this unless someone has stepped up to own/operate the business. If no one is interested, it may be the end of the road for El Rancho.”
QuikTrip plans to begin construction in 2026 at the current El Rancho site.
“While El Rancho has previously been known as a restaurant and events space, we believe there are endless opportunities for the next use of this site,” said JLL’s Markey. “We are open to any and all ideas for what can take shape at El Rancho. The value is compelling enough that investors and developers should be looking into this too.”
JLL plans to offer a type of “open house” for interested parties including tours of El Rancho and the new location on September 3. Interested parties may contact JLL for more details.
