Mystery buyer purchases California ghost town for $22.5 million

What's the going price for a town full of crumbling buildings and tumbleweeds nestled in the heart of the California desert? Big bucks, it turns out.

A mystery buyer on April 17 paid roughly $22.5 million for the property and mining claims of Eagle Mountain, a former iron-mining town, according to a recent regulatory filing.

Little is known about the ghost town's buyer, Ecology Mountain Holdings. The California-based company snapped up the decaying desert town from Eagle Mountain Acquisition, the last of several mining company subsidiaries that owned the land, SFGate reported. Its plans for the vast property remain unclear.