Among the very few things that Michael Jordan has been unsuccessful at in his life, his inability to sell his Chicago mansion lists fairly high. The same mansion that was first listed in 2012, went on the market once again recently with the price tag of $14 million remaining the same.
Jordan boasts an impressive real estate portfolio and has several mansions all across the country. Even though he hasn’t faced any problems in selling pretty much anything, including a struggling franchise for $3 billion, Jordan’s 56,000-square-foot property has proven to be an exception.
It’s currently listed on Zillow and comes with every luxury amenity that one can expect in a luxury mansion. It boasts 9 bedrooms, 19 bathrooms, an office space, a library, a 14-car garage, and so much more.
Michael Jordan’s Chicago area estate has been on and off the market since 2012.
The 7 acre estate was originally listed for $29,000,000!
It is now listed for $14,855,000!
The mansion is roughly 56,000 sqft! pic.twitter.com/PQ40cFLGjh
— Zillow unZipped (@Zillowunzipped) June 3, 2024
When the property first went on market in 2012, it was listed for $29 million. The following year, the price was reduced to $21 million and currently it’s up for grabs for a market value of $14,855,000. Interestingly, a sum total of the numbers of its current market value adds up to 23, the iconic jersey number that the six-time NBA Champion wore during his career.
The continued lack of interest from high end buyers has made MJ drop its value by almost $15 million. It’s been listed freshly on the market after three years hoping for some renewed interest. Still, there seems to be no takers for it, which is interesting considering the name and history that is attached to the property, built during Jordan’s stint with the Chicago Bulls.
There are several reasons why the property has gone unsold in the market for over a decade. According to several major outlets, the primary reason why no one has stepped up to buy it is because the mansion was thoroughly customized for Jordan. The massive gate that welcomes you into the house has the number 23 written on it, which is so big that it can be seen from a mile away.
In addition to that, the mansion is located in the suburban luxury market in Illinois and despite the mega price drop, people believe that it’s still overpriced for that location.
Interestingly, following the release of The Last Dance documentary in 2020, the interest in the property spiked. But no desirable result was achieved still.
Hopefully, with the new listing, the Jordan empire might be able to crack a deal to get their hands off the property finally.