Dylan Bazzell and Drew Fehr were visiting the resort on Spring Break when the accident occurred Sunday night around 8:30 p.m., according to a press release from the Summit County Sheriff's Office and information from Prairie Central Community Unit School District Number 8.
They were 17 and 18 years old.
Both teens were students at Prairie Central High School in Fairbury, Illinois, according to an earlier statement from the school district.
The sheriff's office said the two teens reportedly rode tandem down the halfpipe and launched off a large snowbank at the bottom. They made a hard landing on ice below, causing blunt force trauma.
WATCH: Illinois teens who died were sledding while Colorado resort was closed: officials
Illinois teens who died were sledding while Colorado resort was closed: officials
Though authorities said the teens were given immediate medical attention, they could not be revived and were pronounced dead on the scene.
"Our thoughts and condolences go out to the families and friends of the individuals involved in this tragic incident," Summit County Sheriff Jaime FitzSimons said.
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The Summit County Coroner's Office will take over the investigation into the cause and manner of death.
Counselors will be available Tuesday at Prairie Central High School.
School officials said the boys were star athletes.
"You know, these kids were not only excellent athletes and students, but, most importantly, just really good people," said Paula Crane, superintendent of the Prairie Central School District.
Blue ribbons put up for the school's football season are now reminders of the athletes.
Both boys were named to the all-state teams, one for basketball, the other football. The superintendent said they brought electric energy to the school's gym with every game.
One of the boys was the son of the high school's basketball coach.
The other was the son of a teacher.