When Tom and Mary Bagley moved to Colorado, they planned to build their dream home in Cherry Hills Village.
They spent $1.6 million in 2015 to buy the vacant lot at 3 Cherry Hills Park Drive and worked with an architect for a year to design a house.
But when the Steve Ekman-designed stone mansion across the street on 2.4 acres went on the market, they bought 18 Cherry Hills Park Drive for $4.3 million in 2017.
It had a stone exterior and classic design similar to what they envisioned, so they opted to renovate the 12,000-square-foot stone mansion constructed in 2004.
“We renovated it to make it our dream home,” said Tom Bagley, the founder of Pfingsten Partners, a Chicago private equity firm.
They completed the renovation in phases. The first phase took a year, and the couple moved in after that and lived in the home while working on other projects.
The renovation included installing a custom Mick De Giulio kitchen and moving walls on the upper level to reconfigure the primary suite, enlarging the closets and bathroom. The project also included redoing the other bedrooms and baths in the five-bedroom, eight-bath home.
The project also added a laundry room to the upper level and installed an elevator to access all three floors.
Other work included reconfiguring the office, upgrading the fireplaces, installing new flooring, and finishing the lower level.
The lower-level project included adding a bedroom and bath, installing a fitness center with a sauna, a lighted wine rack, an entertainment area, and a man cave with a putting green.
The couple upgraded the home’s electrical system and installed a new HVAC system. They also added security cameras, enhanced security at the entry gates, constructed a panic room, and applied ballistic film to the windows to make them unbreakable.
Outside, the Bagleys created an oasis that includes fruit and vegetable gardens, a three-tier fountain, and a bocce ball court.
The renovation has been “a labor of love,” Bagley said.
And while the couple is sorry to leave the house and the neighborhood that he calls “the best in Denver,” the couple’s ready to downsize and spend more time in Florida and Chicago.
“It’s on to the next adventure and next project,” he said.
The couple listed the home across from the Cherry Hills Country Club for $16.6 million with Compass-Denver’s Helm Weaver Helm team.
Listing agent Libby Weaver said the home will appeal to a family who wants access to Cherry Hills Village’s schools or to a couple who values privacy and security. The home’s landscaping will also be a draw.
“The landscaping is the most beautiful I’ve ever seen,” she said. “With the gardens, the fountains, the firepit and the flowers, it’s like having your own botanic gardens.”
The home’s enhanced security measures in an already safe area will appeal to affluent buyers, she added.
“It’s a special property in the premier neighborhood in Cherry Hills,” Weaver said. “Properties in Cherry Hills Park don’t come up very often.”
If 18 Cherry Hills Park Drive sells for its list price, it’ll be one of the most expensive sales in Cherry Hills Village.
Last summer, Josh Kroenke, president of the Denver Nuggets basketball and Avalanche hockey teams, spent $15.8 million to buy the 12,000-square-foot mansion at 5 Cherry Hills Park Drive. That set the record for Cherry Hills’ highest on-market sale, although it trailed Russell Wilson’s $25 million off-market buy in 2022.
A 23,000-square-foot Spanish Revival mansion at 12 Lynn Road in Cherry Hills is also for sale for $22 million.
