The 'New Slaves' rapper is a huge fan of the late rock 'n' roll singer and would love to splash out the iconic mansion in Memphis, Tennessee, which is still filled with the singer's possessions. The 14-acre property is also the final resting place of the 'Love Me Tender' singer, as well as his parents Gladys and Vernon Presley, and his grandmother. It is designated a US national landmark and over 600,000 fans visit each year to pay tribute to their idol.
A source told the Daily Star newspaper: ''There have been constant whispers that it's due to go on the market, as long as it stays open to the public and as a place for Elvis fans to visit. ''Kanye is really excited about the possibility of owning it. ''He thinks it would be really cool if he, Kim and [their two-month-old baby] North West lived there, at least some of the time. ''Kanye has always been intrigued by Elvis, especially his influence in bringing blues and gospel to the masses. ''Kanye thinks owning Graceland and restoring it to its former glory would cement his place in showbiz history.''
Graceland is currently owned by Elvis' widow Priscilla Presley and their daughter Lisa Marie Presley, both of whom are fiercely protective over the estate. Speaking about her decision to preserve Graceland after Elvis' death in 1977, Priscilla, 68, said: ''I wanted to do the right thing, knowing what Elvis wanted and how much he loved Graceland. I had the forces against me. Attorneys, business and financial people just saw him as someone who had passed away and would be forgotten about in a few months. I didn't see it that way. I put my foot down.
''They wanted me to sell Graceland and get rid of all the properties and artefacts, and I said, 'No, it's not happening. This is his legacy.' He gave us too much for something like that to happen. It was almost as though his voice was guiding me.''