Michael Jackson's Neverland Ranch to go on the market

Michael Jackson's Neverland Ranch To Go On The Market

If you're in the market for a new house, maybe we can interest you in a ranch-style home...

Only if you're feeling really ambitious though. Michael Jackson's Neverland Ranch plus nearly 2,700 acres is set to be sold.

Colony Capital, the company that owns a controlling interest in the property, is considering the move. The firm became Neverland's managing partner after striking a 23-and-a-half million dollar deal with Jackson in 2008.

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Michael Jackson's Neverland Ranch to go on the market
LOS OLIVOS, UNITED STATES: Pop superstar Michael Jackson (in red jacket), holding hands with his wife Lisa Marie Presley, walks with children at his Neverland Ranch in Los Olivos, California as he welcomes them for a three day World Children's Congress. This is one of the rare occasions that Jackson has allowed the media into his exclusive ranch, 150 miles north of Los Angeles. AFP PHOTO (Photo credit should read KIM KULISH/AFP/Getty Images)
LOS ANGELES, CA - JANUARY 18: In this 18 April 1995 file photo Lisa Marie Presley (L) walks with her husband Michael Jackson (R) to greet children at his Neverland Ranch in California. Cable News Network (CNN) reported 18 January that Presley has filed for divorce, citing irreconcilable differences. Jackson married the daughter of music icon Elvis Presley in 1994. (Photo credit should read KIM KULISH/AFP/Getty Images)

The property isn't on the market just yet, but Jackson's estate issued a statement saying they are, " frustrated, bitterly disappointed and saddened that it has come to this..."

But before you jump at the possibility of owning the iconic mansion - you might want to look at the costs.

It's estimated Colony has spent $5 million every year keeping the ranch in good condition, plus it's invested roughly $50 million since it took over in 2008.

No word yet on the official asking price, but we imagine it'll cover the company's costs to date.
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