Kanye West Purchases Massive Wyoming Ranch for a Reported $14M and Is Touring Schools: Source

This news comes days after wife Kim Kardashian-West's cover story for Vogue Arabia, in which she said she could see the family living in Wyoming in the next 10 years

Kanye West is taking his talents to the Cowboy State!

A source has confirmed to PEOPLE that the Yeezy designer, 42, has purchased a ranch in Cody, Wyoming — a city in the northwest of the state, just 52 miles from Yellowstone National Park.

"Kanye West has been in Cody, Wyoming for a few weeks now," the source told PEOPLE, noting that he seems to be making arrangements for his family — including wife Kim Kardashian West, 38, and children Psalm, almost 4 months, Chicago, 19 months, Saint, 3½, and North, 6 — to make the move as well. "He bought a ranch and is touring local elementary schools," the source said.

According to the insider, the ranch was previously known as "Monster Lake Ranch."

It's a massive property with panoramic views of the surrounding Rocky Mountains and comes in at just over 4,500 acres. TMZ previously reported that the huge chunk of land cost the rapper $14 million.

Kim Kardashian West and Kanye West with their children. Kim Kardashian/Instagram

This news comes just days after Kardashian-West's September cover story for Vogue Arabia, in which she said she could see the family living in Wyoming in the next 10 years.

"In my mind I'm already living in those 10 years," the Keeping Up with the Kardashians star told her husband, who interviewed her for the story. "I see us living on a ranch in Wyoming, occasionally going to Palm Springs and our home in Los Angeles — and becoming a lawyer."

Kardashian-West elaborated on her future career as a lawyer in the story, which she kickstarted last summer with a four-year apprenticeship with a law firm in San Francisco: "I would probably do it from [Wyoming] and fly into DC, NY, and LA," she said, mentioning dreams of accomplishing prison reform in Wyoming. Currently, her goal is to take the bar in 2022.

The Kardashian-Wests escaped to the resort town of Jackson Hole, Wyoming in 2018, while Kanye finished up recording an album, with a source telling PEOPLE they were "happy" there.

"Kanye will be in Jackson Hole for several more weeks," the insider said. "Kim will travel back and forth to see him. She's happy he's focused on his music instead of going on social media rants."

"Kanye seems great," the source added. "He loves Jackson Hole. He thinks it's the perfect place to create his music."

Their extended family including, Kim's mom, Kris Jenner, and sisters, Khloe Kardashian and Kendall Jenner also recently spent some "family bonding" time in the state.

WATCH THIS: Kim Kardashian Jokes 'It Was Going So Good' on Post Featuring Her Kids North, Saint and Psalm

Kim and Kanye currently reside in Hidden Hills, California, in a mansion they picked up for a reported $20 million in 2014. Kardashian-West told PEOPLE at the time that she and her husband had "just found a new, amazing place" nearer to her mom, Kris Jenner.

They moved into the Hidden Hills house in December 2017, despite ongoing renovations, in order to get settled before Chicago's arrival, a source confirmed to PEOPLE.

Kardashian-West home
Kim Kardashian/Instagram. Inset: Roy Rochlin/Getty

When they purchased the estate, it boasted 3.5 acres, two swimming pools, two spas and its own vineyard. They made significant changes to this property as well, and Jenner tweeted in April 2018 that the house is now worth $60 million.

In November 2017, the couple sold their previous house in Bel Air for $17.8 million —more than one-and-a-half times the $11 million they paid for it in 2013 — to tech investor Marina Acton.

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