The closure is for trail maintenance and the replacement of the boardwalk that goes around most of the lake, said Pat Thrasher, public affairs officer for the White River National Forest.

It's been 18 years since the existing boardwalk was built. According to Thrasher, an estimated 1 million hikers have hiked the trail and used the boardwalk since it was installed in 1992. That's approximately 80,000 a year that make their way up the steep and picturesque 1.5-mile trail. Hanging Lake draws hikers year round, but the summer months are the most popular time for the trail.

Chapman, 59, has a 26-year history in Colorado of finding obscure, seemingly undevelopable mining claims located in the middle of highly valuable land.

Threatening to build homes and roads on private islands inside federal wilderness or national parks has netted him millions. In several cases, the federal government has either paid his price or swapped him other parcels of public land in exchange for inholdings he said he planned to develop.

Blevins goes on to describe a plot of land inside Black Canyon of the Gunnison National Park -- the park's high point actually -- where Chapman is threatening to build a mega-mansion. Some call it a shrewd business tactic. Others liken it to blackmail.