Four-time major winner McIlroy rolled in four birdies in a five-hole stretch around the turn at the USD 8 million PGA Tour event at the Cherry Hills Country Club course.
"It's tricky. We've had a couple of days to adjust to the altitude, so that's fine, but these greens have gotten so much firmer over the last 24 to 48 hours," McIlroy said.
US Open champion Martin Kaymer is one of nine players tied at two under. He stands alongside Spain's Sergio Garcia, Canada's Graham DeLaet, Matt Every, Billy Horschel, Kevin Chappell, Russell Henley and Chesson Hadley.
World number one McIlroy is aiming for his fourth win of 2014 which includes major titles at the Open Championship and the PGA Championship.
McIlroy started on the back nine and after a pair of pars, he dropped his tee shot inside five feet at the par-three 12th and drained that for birdie.
He two-putted for birdie at the par-five 17th and parred number 18 as he made the turn at three under.
He made bogey on two of his final three holes to finish at three-under. He admitted he is not happy with the ending.
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