In 1971, Guercio purchased Caribou Ranch, comprising more than of ranch property in the Rocky Mountains. The next year, Joe Walsh and Bill Szymczyk were starting work on Barnstorm at Walsh's home in Colorado when a mixer blew out on the first day. Szymczyk knew Guercio was building a new studio, visited the in-progress barn conversion at the ranch, and concluded that it would work for their project. They used the new studio to finish Barnstorm. Szymczyk next made Rick Derringer's All American Boy and the hit single "Rock & Roll, Hoochie Koo" there. Elton John's 1974 album Caribou was recorded at and named after the studio. John also recorded the single "Lucy in the Sky with Diamonds" there, along with its b-side, the John Lennon-penned "One Day," and the basic tracks and vocals for the single "Philadelphia Freedom". He also recorded his next two albums, Captain Fantastic and the Brown Dirt Cowboy and Rock of the Westies at Caribou Ranch. Simultaneously in 1974 The Beach Boys attempted to record new material for their first studio album since Holland two years prior. The recordings were not very successful, but some songs such as "Good Timin'" and "Ding Dang" saw later release. Many other songs were demoed but have not yet seen official release. Carl Wilson and Bruce Johnston sang backing vocals in support of Elton John's "Don't Let the Sun Go Down on Me" during this time. The group Chicago, managed by Guercio, recorded five studio albums there: Chicago VI, Chicago VII, Chicago VIII, Chicago X, and Chicago XI. Earth, Wind, & Fire recorded two of their albums there as well; 1974's Open Our Eyes and the 1975 Grammy winning That's the Way of the World. By the mid 1980s, it was rumored that business was slow for the studio and their rates had dropped. In March 1985 Amy Grant, who had recorded 4 albums there, including her platinum-certified mainstream breakthrough album Unguarded, was about to fly out of Nashville to return to Caribou for work on her next project when word reached her that the studio was in flames. The studio complex was shut down and never used again after the 1985 fire destroyed the control room and caused about US$3 million in damage. According to the Nederland Fire Chief, while the fire department was doing overhaul on the fire to make sure it was out, several Gold Record plaques awarded to Guercio's group Chicago that were hanging on the wall of the studio, were damaged by a chain saw. Guercio's interests had shifted away from music and on transactions in 1996 and 2001 he sold of the ranch to Boulder County and the City of Boulder, and another were placed under conservation easement. A housing development by Guercio's Caribou Companies takes up much of the remaining land. In a 2008 interview with Denver PBS series Studio 12, Guercio said the studio's control room was rebuilt after the fire. Guercio added, however, that he has no plans to reopen the recording facility for business. In 2009, the Neve 8016 mixing console from the recording studio was refurbished by Vintage King Audio and purchased by Prime Studio in Austria. The remaining property was sold to Indian Peaks Holdings LLC for $32.5 million. In January 2015, the remaining Rock 'n' Roll memorabilia was auctioned in Denver. Over $800,000 was raised from more than 1500 bidders. Items sold included:
President Grover Cleveland's bed, used by many artists including Elton John, Michael Jackson, and Jerry Lee Lewis, sold for $11,250
A 1985 black Corvette with custom 'CARIBU' plates, which was often used by celebrities visiting Caribou Ranch. Val Kilmer drove the Corvette during his run inHamlet at the Colorado Shakespeare Festival in 1988. The Corvette sold for $10,625
