Locomotive CMS bundle install fails rmagick 2.12.2 error

Question

I am trying to install Locomotive CMS but I am getting an error regarding rmagick upon installation:

An error occurred while installing rmagick (2.12.2), and Bundler cannot
continue.
Make sure that `gem install rmagick -v '2.12.2'` succeeds before bundling.

I checked the log and this is the error rmagick is showing:

$ gem install rmagick -v '2.12.2'
Building native extensions.  This could take a while...
ERROR:  Error installing rmagick:
    ERROR: Failed to build gem native extension.

    .rvm/rubies/ruby-2.1.0/bin/ruby extconf.rb
checking for Ruby version >= 1.8.5... yes
extconf.rb:107:in `<main>': Use RbConfig instead of obsolete and deprecated Config.
extconf.rb:107:in `<main>': Use RbConfig instead of obsolete and deprecated Config.
checking for /usr/bin/clang... yes
checking for Magick-config... yes
checking for ImageMagick version >= 6.3.5... yes
checking for HDRI disabled version of ImageMagick... yes
checking for stdint.h... yes
checking for sys/types.h... yes
checking for wand/MagickWand.h... yes
checking for InitializeMagick() in -lMagickCore... no
checking for InitializeMagick() in -lMagick... no
Can't install RMagick 2.12.2. Can't find the ImageMagick library or one of the dependent libraries. Check the mkmf.log file for more detailed information.

*** extconf.rb failed ***
Could not create Makefile due to some reason, probably lack of necessary
libraries and/or headers.  Check the mkmf.log file for more details.  You may
need configuration options.

Provided configuration options:
    --with-opt-dir
    --without-opt-dir
    --with-opt-include
    --without-opt-include=${opt-dir}/include
    --with-opt-lib
    --without-opt-lib=${opt-dir}/lib
    --with-make-prog
    --without-make-prog
    --srcdir=.
    --curdir
    --ruby=.rvm/rubies/ruby-2.1.0/bin/ruby
    --with-MagickCorelib
    --without-MagickCorelib
    --with-Magicklib
    --without-Magicklib

extconf failed, exit code 1

Gem files will remain installed in .rvm/gems/ruby-2.1.0/gems/rmagick-2.12.2 for inspection.
Results logged to .rvm/gems/ruby-2.1.0/extensions/x86_64-darwin-12/2.1.0-static/rmagick-2.12.2/gem_make.out

I've found similar issues on SO and Google but I've been trying all sorts of fixes for about 3 hours now and still can't get it to work. Please advise, thanks!