Michael Jordan‘s allure and appeal remain as massive as it was in the 1990s, especially after the release of his 2020 Netflix docuseries ‘The Last Dance’. His memorabilia continues to sell for record-shattering sums at auctions as fans still crave a piece of His Airness’ lore. However, that hasn’t helped MJ sell one of his most expensive possessions, despite being on the open market since 2012.
Advertisement
Jordan put his Chicago mansion for sale 12 years ago with an asking price of $29 million. He moved into the massive property after construction finished in 1995 and lived there for almost two decades before moving to Florida along with his wife, Yvette Prieto, in 2013. The six-time NBA champion has been trying to sell his Highland Park mansion since then, which boasts nine bedrooms, 15 bathrooms, a world-class basketball gym, an infinity pool, a putting green, and a dedicated cigar room.
The sprawling 56,000-square feet property was first listed at $29 million in 2012. After failing to attract bidders, the asking price dropped to $21 million. Since 2015, the mansion has been listed at $14,855,00o. The digits of this specific asking price adds up to 23, Jordan’s iconic jersey number.
Despite being available at a shade above half of its original asking price, the mansion remains unsold. In an interview with Business Insider, Chicago realty expert Gail Lissner explained why the property has failed to attract bidders. She said,
“Any time you have these homes that are just kind of gross over-improvements for the area they do lead to very, very lengthy marketing times. It’s located in an area that is much more modest.”
The interest in the mansion spiked after the release of Netflix’s ‘The Last Dance,’ but is yet to be sold. Jordan probably hopes one of his supporters can one day take the property off his hands. However, it doesn’t seem forthcoming any time soon.
The chief reason for the lack of buyers is the high estimate of the property compared to the real estate listings in the area. Moreover, the heavy MJ-centric customizations in the property seems to turn off some buyers as well.
Michael Jordan continues to wait to sell his $14.9 million mansion
Michael Jordan’s Chicago home remains on the market. The prospective owner will have to shell out $14,855,000 to buy the 56,000-square-foot property and another $136,000 in annual property taxes. The discounted asking price from the opening listing has failed to attract bidders. However, Jordan is likely not that concerned about selling the house and being forced to pay $ 136,000 in taxes.
The Bulls legend has a net worth of over $3 billion. He made over $2 billion last year after selling his stake in the Charlotte Hornets, ending his 13-year tenure as the franchise’s owner.
Michael Jordan bought the Charlotte Hornets for pennies on the dollar in 2010.
And with the team’s recent $3 billion sale, he has now made more money on the Hornets ($2B+) than he has from 40 years with Nike ($1.8B).
It’s one of the best sports business deals in history.… pic.twitter.com/Vdtsd7lzeN
— Joe Pompliano (@JoePompliano) June 21, 2023
He resides in a mansion at The Bear’s Club, a golf-course-cum-luxury-living-space in Jupiter, Florida, founded by legendary golfer Jack Nicklaus. He bought a 3-acre land for $4.8 million and spent another $7.6 million to build his 11-bedroom mansion. Jordan is busy working on his golf game and raking in billions in business deals as his iconic Chicago mansion waits for a new owner.
