Hi 
I am assuming you are referring to Siberian Elm and not Chinese Elm (they are often confused with each other, yet for purposes of selection, it may not make a difference).

Yes, such elms are extremely invasive and difficult to manage or get rid of when one inevitably discovers they are not desirable for a multitude of reasons: they may not need to be watered but they will take up water from other desirable plantings so are not really water savers; they put out so many seedlings that have deep roots and are difficult to remove once discovered.  (So I would recommend pulling new shoots quickly or you will have problems as you decide they aren't what you had hoped) 

here are a couple of helpful links: (the first is a list of trees recommended for Colorado's front range; note that there are few Elms and none is highly recommended).

treereclist.pdf (colostate.edu)

Siberian Elm – Colorado Master Gardener (colostate.edu)

hope this helps