If you're in the market for new house, have we got an unrealistic option for you: Michael Jackson's former home, the Neverland Ranch, has finally hit the market more than six years after the pop star's death. According to the Wall Street Journal's listing, the 2,700-acre property will only set you back $100 million.
Neverland became the focal point for what many alleged was his childlike state of mind, as the performer converted the property into his own Peter Pan-themed world. The front of the property was styled on the entrance to Walt Disney World's Magic Kingdom, and like the theme park, it also has a functioning train station working out of it. Other touches include a 50-seat movie theater and a pair of lakes. Many may remember reports of the personal zoo and miniature amusement park that Jackson built on the property, however those have since been removed.
The year prior to Jackson's death, he needed a bailout from real estate company Colony Capital LLC when the star defaulted on the $24.5 million he still owed for the property. That left ownership in the hands of Colony Capital, which has presumably been maintaining it and performing repairs as to prepare it for sale.
Some have, of course, suggested that the iconic property be converted to a Graceland-style museum and showcase (much like Elvis Presley's estate outside of Memphis, TN). The problem however is that Jackson left Neverland on less than comfortable terms. Following his acquittal on charges that he had molested children on the property, he opted to live at other locations around the world from 2005 until his death. That sort of stigma doesn't bode well for a family-friendly museum complex.
That said, if you're interested in buying Neverland Ranch, better make an offer soon. We've got a pool going at the Music Times water cooler and we've already collected $33.85 in pledges to put toward buying the property.
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