July 18 (UPI) -- A ghost town in California's Owens Valley sold for $1.4 million and the new owner said it is planned to become a tourist destination.
Cerro Gordo, an old west mining town that has been abandoned for decades except for the presence of caretakers, sold for $1.4 million to an investment group led by Brent Underwood and Jon Bier.
The town, which experienced a boom in 1865 when silver was discovered, currently includes 2 structures including a hotel, a saloon, a museum, a chapel, an eight-bed bunkhouse and several small homes.
"We want to maintain the historic nature of the property while introducing amenities that will allow more people to enjoy the location," Underwood told the Los Angeles Times.
Jake Rasmuson of Bishop Real Estate said the ghost town received offers of up to $2 million, but the previous owners liked Underwood and Bier's plans for the town.
"Development pitches ranged from a theme park to a care facility to farmland," Rasmuson said. "The buyers' vision was to keep the property open to the public, which the owners appreciated."
"There were other offers, but Mr. Underwood's plan was beneficial to the preservation and public use of the property," Rasmuson told CNN.