Forecast: A Purple Rain of Properties Owned by Prince Is Coming

If you’ve always wanted to live like Prince, you’re in luck. Three Minnesota properties owned by the late, great purple one hit the market last week, and a fourth is expected soon. The upcoming property is a sloped, quarter-acre lot in Chanhassen, a Minneapolis suburb where the other three properties are located.

As to why a couple of the properties were snapped up right away, the listing agent for all four of the properties has a theory. “I call it the bonus factor of Prince,” says Steve Norton. “Some buyers aren’t going to care. But it certainly doesn’t hurt the properties that Prince owned them.”

The largest of the three initial offerings is under contract. It’s a 1.82-acre lot with plans for a 3,600-square-foot rambler. The proposed four-bedroom, three-bathroom house has an open floor plan, vaulted great room and game room. Best of all, a stream runs through the property.

The mysterious musician paid $230,000 for the property in 2006. When it debuted on the market last week, the asking price was $925,000

The most expensive offering is the wooded, 1.5-acre lakeside lot for $1,675,000. Nestled on Lake Riley, the listing includes a “to-be-built” 5,654-square-foot home with five bedrooms, five baths, indoor sport court and media room. The agent says he’s already received two offers.

The laggard in the Prince property portfolio is a 2,500-square-foot ranch house sitting on a little more than a quarter-acre. It boasts two fireplaces and a purple-hued family room. It’s listed for $299,999.

And in an ironic twist for the legendary artist behind songs such as “Erotic City” and “Darling Nikki,” the home is sitting a bit longer on the market because it isn’t exactly sexy.

“It doesn’t have as much sex appeal as the other two properties,” Norton says of the two-bedroom rambler. “If it had more bedrooms, it would probably sell more quickly.”

The listing that is coming on the market soon is an empty lot set between two more Prince properties that have not yet been offered for sale. It’s set to list for $600,000.

So why did Prince own so many Minnesota properties?

“He liked to take care of people,” Norton says. “By all accounts, he was a generous, kind person who took care of people who were important to him.”

Prince, one of history’s best-selling pop artists, died from an accidental overdose of pain medication in April. He was 57.

Images via Realtor.com

– Lisa Gordon, realtor.com