Located between Basalt and Leadville, Colorado, the Fryingpan Lakes are nestled at the foothills of several two 13,000 foot peaks (Mount Oklahoma and Deer Mountain) and a 14er (Mount Massive). The lakes themselves are a little over 11,000 feet high. The lakes are often fished, but most people stop at the first lake (making the upper two lakes more private).
It's definitely uphill from the trailhead, but the entire trail is pretty runnable until the last half mile. The trail often times gets flooded and overgrown. You kinda of have to go off trail to get to the upper lake, but then it's a fun downhill back to the car.