The world-famous former home of pop star Michael Jackson, Neverland Ranch, is going on the market for $100 million.
The Wall Street Journal reported that Neverland Ranch, the 2,800-acre California is now on the market for $100 million. The King of Pop bought the ranch for $19.5 million in 1988 and lived there until 2005.
Jackson failed to repay a $24 million loan on the ranch amid his mounting debt in 2008, Neverland Ranch almost went to auction the real estate company Colony Capital LLC bailed the pop star out.
The 12,000-square-foot main house has six bedrooms. The property also boasts two guesthouses, a swimming pool, barbecue area, basketball court and tennis court. The property includes a 50-seat theater, two lakes and a train station, but the more over-the-top amenities, including a zoo and small amusement park, have been removed. Per the listing agents, the elephant and orangutans are gone, but a llama remains on the property.
Following Jackson's death, Colony Capital slowly redeveloped the home, rebranding the property Sycamore Valley Ranch, the Wall Street Journal reports. ..... Devashree