Above the fourth pitch, the grade nowhere exceeds WI2-3s and is usually less, but you can climb another 800 feet (not recommended) to the summit ridge. The climbing throughout is exposed to extreme avalanche danger. Stay off this climb if there is any question of avalanche danger.
You can check for avalanche conditions here.
If you will want to search for the location of the climb on your map, it is on the northeast slopes of Quarter Peak. Cameron Burns writes in his Colorado Ice Climber's Guide book that it is on the slopes of Half Peak, a high 13er and Centennial peak (among the 100 highest in Colorado, but that is not true. Half Peak is located further south).
Lake city is a small historic mountain town in Colorado. Most of its little population leaves for the winter and only about 22% brave try to survive the long winters. Lake City features a small ice park and a number of back country ice climbs, Sherman being the most popular one. Lake City is referred to as “off beaten path”, it much less crowded than Ouray Ice park and Ouray back country ice.
Jack Robert's Colorado Ice book as WI4/5, and Crested Butte Mountain Guides rate it as WI5. I think a more reasonable rating is WI4 (per conditions we encountered), with the 4th pitch being at this rating.
Sherman Ghost Town - the ice climb is named after the ghost town, named Sherman. Little is left of Sherman today. There is only one relatively intact cabin, one collapsed and several stone foundations. (all fenced off with those unfriendly signs).
Sherman was a potentially rich area but was plagued by snow in the winter and floods int he spring. Some rich strikes were made during the late 1870s and early 1880s, but it wasn’t until the Sherman House Hotel was built that the camp took the appearance of a permanent city. Much of the community activity centered around one large building which housed a dormitory, grocery and general store, butcher shop and slaughter house, bakery and storage. The summer population of Sherman’s peak years was around three hundred persons. During the fall most residents left, and few stayed in Sherman over the winter. Mining continued into the early 1900s and on and off until 1925.
Sherman was one of the many small communities which boomed briefly, then slowly perished. Named for an early pioneer, Sherman was founded in 1877, four years after the U.S. government and the native Ute Indians signed a treated which opened up the San Juan Mountains to mining and settlement. When U.S. government went off the silver standard in 1893, the demand for silver dropped, creating a nationwide depression. The drop in demand for silver forced the closure of scores of mines in the San Juans, including the Sherman area.
Drive south of Lake City on Colo 149, towards Slumgullion Pass. About 2.3 miles south of the Henson Creek Bridge in Lake City, there’ll be turn off to the right, Hinsdale County Road 30 (Alpine Loop Road). This is the way to the Lake San Cristobal. (Lake San Cristobal is the second largest natural lake in Colorado).
Continue on Hinsdale County Road 30 past County Road 33 and the turnoff to Happy Camper. You will pass some nice and expensive houses. Community of Sherman lies near the end of the large, open valley of the Lake Fork of the Gunnison River. Soon, you will reach Y intersection, the road to the left heads towards the ghost town of Sherman, the right fork goes over Cinnamon Pass, and ultimately to Silverton. This right fork is closed in the winter. It is another 0.7 miles from the Y intersection to the end of the plowed road, marked for Cataract Gulch Trailhead. There is a toilet at the parking lot. It is roughly 15 miles from Lake City. You don't need a 4 WD vehicle to get here (there is camping available at the parking site).
From the Cataract Gulch winter parking snow shoe or ski up the closed road for 5 - 15 min until you see the large ice climb on your left across the drainage. Follow the trail or pick the best route over to it. You may be able to hike in boots only if the approach is well beaten down since almost all traffic here is for this climb. You have to cross the stream, usually there are plenty of snow bridges over it.
Distance: 0.5 miles
Gain: 300 feet
Time: 15-20 min