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Michael Jackson & Elton John's Music Retreat Sells For $32 M

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The famous recording retreat of music legends like Elton John, Chicago, and Michael Jackson just sold in Colorado for a whopping $32.5 million. Originally listed at $45 million, the 1,600 acre property (called Caribou Ranch) is located 10 minutes from Eldora Ski Area and about 30 minutes from Boulder, Colorado. Let's take a look back at a piece of music history, shall we?

In 1971, owner and musician Jim Guercio bought Caribou Ranch and set to work building a state of the art recording studio. And from the early 1970s until 1985 when a fire closed the recording studio, the who's who of music came to Colorado to record and write. Some seriously good music came out of this property: Elton John recorded his hit 1974 album "Caribou" (get it?!) at the ranch, U2 mixed its "Under a Blood Red Sky" live album there, and Michael Jackson hid out at Caribou Ranch during his 1984 concert tour, working on songs, recording a song for "Bad," and horseback riding.

Other stars who recorded, mixed records, or wrote at Guerico's ranch include Chicago, Stevie Wonder, Amy Grant, Stephen Stills, Billy Joel, The Beach Boys, David Cassidy, John Lennon, Tom Petty, Rod Stewart, Earth Wind & Fire, Frank Zappa, Rod Stewart and Waylon Jennings.

Besides a permanent place in music history, the property also boasts an owner's home, guest cabins, a lodge, riding area, barn, and equipment buildings. The new buyers are rumored to be part of the Walton family, descendants of the founders of Walmart, and plan to preserve the property, not develop it.

In the meantime, the many pianos and other musical relics from the ranch will either be donated to Colorado's new Music Hall of Fame at Red Rocks amphitheater or will be auctioned off. Guercio says that the pianos used to record 'Don't Let the Sun Go Down on Me' and 'Bridge Over Troubled Waters' are part of the collection. Bonus: Check out the photo of Michael Jackson at the Caribou Ranch in 1984, below.

· Fabled Caribou Ranch above Nederland sells for $32.5 million [Denver Post]
· Caribou Ranch will close its gates, Guercios focus on rebuilding brand [Denver Post]
· Caribou Ranch, Boulder County's pop-music landmark, sells for $32.5 million [Denver Business Journal]
· Reliving the ranch [Rocky Mountain News]
· Caribou Ranch [Mountain Marketing Associates]
· Oprah Winfrey Buys 60 Acres in Telluride for $10.85 Million [Curbed Ski]
· All Curbed Ski Celebrity Real Estate [Curbed Ski Archives]