Former home of Michael Jackson on sale

The former home of legendary King of Pop Michael Jackson, Neverland Ranch is up for sale. According to the Wall Street Journal, the vast California property that once served as Jackson’s home and personal fantasy land is being listed at a staggering $100 million. The 2,700-acre ranch in Santa Ynez Valley offers the following extravagant amenities: a train station, six-bedroom house, fifty seat movie theater and a pair of lakes. It has been deserted and in limbo since Jackson’s death in 2009. He originally paid $19.5 million for it back in 1988 and re-christened it Neverland (after Peter Pan’s island abode). Over the years, Jackson added such excessive amenities as a zoo and small amusement park, which has since been removed. The real estate company Colony Capital LLC worked a bail out deal with him in 2008 after he defaulted on the $25 million that he owed on the ranch. There were rumors that Neverland might be transformed into a Graceland-like homage to the King of Pop, but instead Colony Capital has been quietly maintaining the house and grounds. Jackson disassociated himself Neverland after his 2005 acquittal on charges that he molested children at the property. The singer opted to live in a rented mansion in the Holmby Hills district of L.A. until his death. Colony Capital spokeswoman Caroline Luz refused to elaborate on the details surrounding the sale.