Yes. Caribou Ranch, The music icon of the 70’s, has been sold for $32.5 million.

Evidently a family has purchased the property with plans to steward — not develop — the land.

Sources said the buyer — described in real estate transaction documents as Indian Peaks Holdings LLC — is part of the Walton family, descendents of the founders of Walmart.

Will Guercio, Jimmy’s son, reassured a concerned public that the purchasing family has a strong commitment to conservation and is simply looking at the ranch as a retreat but could not discuss details because of nondisclosure agreements.

Guercio said the ranch will be inducted into Colorado’s Music Hall of Fame later this year, and they are taking inventory of artifacts from the ranch and recording studio that have ties to music icons including Elton John, Chicago, Dan Fogelberg and Stevie Wonder.

The family plans to give about half of the memorabilia to the Colorado Music Hall of Fame. The objects will be featured at the hall of fame’s new home at the Trading Post at Red Rocks, which is set to open later this summer.

Wait!  There’s Good News About Caribou Ranch

The Guercio family did retain a few elements of the ranch, including the Caribou Ranch name and brand, as well as a scenic 40-acre plot, which they hope to use for a Caribou Ranch reunion or other promotional events.

“We are in conversations with a few developers in Denver to actually re-create the studio,” Will said.

For The Record, I borrowed a lot of the above content from a recent article in The Denver Post.