Prince's Paisley Park estate to become a museum

Prince's Paisley Park estate may become the Graceland of the 21st century.

According to friends and family of the late singer, the $10 million estate in suburban Minneapolis will be turned into a museum to honor his legacy.

Prince died Thursday at the estate. On Saturday, a private memorial service was held for friends and family including Prince's four living siblings and a host of musicians.

While Prince reportedly did not have a will, those closest to him say that he always planned to turn his estate into a museum for his fans.

"We will turn Paisley Park into a museum in Prince's memory," said the late singer's brother-in-law, Maurice Phillips, 52, in an interview with the British newspaper The Sun . "It would be for the fans. He was all about the fans — this would remember his music, which is his legacy," said Phillips, who is married to Prince's sister Tyka Nelson.

Sheila E., a close friend of Prince who is planning a musical tribute to the musician, echoed Phillips in an interview with ET .

"We're hoping to make Paisley what [Prince wanted] it to be. [He] was working on it being a museum," she said. "He's been gathering memorabilia and stuff from all the tours, like my drums and his motorcycle."

The 65,000 square foot building features several studios, live rooms, a meditation room, and some purple lighting.

"There's a hallway of his awards and things, which he really didn't care about too much, but he displayed it for the fans because he knows that they would want to see it," said Sheila E. "There's pictures of him all down the halls, some you've seen before and some never [seen]… There's a mural on the wall with his hands out and on one side is all the people he was influenced by and the other side is all of us who have played with him... It's beautiful."