The Hagerman Tunnel was a 2161 ft. tunnel constructed as part of the Colorado Midland's line between Leadville? and Aspen?. Sitting at an elevation of 11528 feet, the tunnel and its connecting lines were prone to high operating costs associated with the months of severe winter weather and steep connecting grades.

In 1893, the tunnel was replaced with the much lower, longer Busk-Ivanhoe Tunnel. Traffic was diverted back to the Hagerman Tunnel during 1897 and 1898 due to a rate dispute with the Busk Tunnel Railway Company, but this was resolved in May of 1899 and the line through the Hagerman Tunnel was abandoned shortly thereafter.

Today, the tunnel is abandoned but still open on both ends. It's located on National Forest land and can be accessed by hiking up the old Colorado Midland grade.