The Hallam Lake Nature Preserve and Learning Center are places to discover and study natural communities. The preserve has been permanently set aside to protect plants and animals native to the Aspen area.

The preserve is a riparian community, which is an area located adjacent to a river that supports a diversity of plant and animal life. Hallam Lake encompasses a marsh, a wet meadow, a river, and a pond. Because less than 1% of Colorado is riparian, and over 75% of all wildlife depend on it for all or a part of their life cycle, Hallam Lake provides vital habitat.

A half-mile loop nature trail is available for all visitors. This trail meanders in and out of wetlands and includes stops at various observation decks. On any given day, a variety of birds and mammals can be seen feeding at the water's edge. During the day, swallows perform acrobatics above the water in search of insects, while the American Dipper dives underwater in search of aquatic insects. As the sun sets, fox, bear, and deer prowl the banks searching for dinner, while beaver cautiously feed on willow, aspen, and cottonwood bark around the lake.