After a Decade, Michael Jordan Still Can’t Sell his Ultra-Luxury Chicago Mansion

Very few athletes have had as much post-career success as Michael Jordan. Similar to his days on the court, the billionaire doesn’t miss when it comes to business. Yet, the one stain on a nearly perfect record is his Illinois mansion located at 2700 Point Lane, Highland Park. The property has been on the market for ten years, failing to allure the interest of potential buyers. The house is enormous, private and has all the bells and whistles you could ever need; why hasn’t it sold? Before the investigation begins, we recommend watching the walkthrough video above to give yourself a little context.

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Michael Jordan House Illinois

Image: The Agency

According to Business Insider, Michael Jordan’s 56,000-square-foot estate is currently selling for USD$14.9 million.  He initially listed the property for USD$29 million in 2012, after gaining sole ownership of the property one year after divorcing his wife, Juanita Vanoy. Speaking with Insider, Bruce Bowers from Bowers Realty Group said there’s one obvious reason the property isn’t selling. He told the publication that it all starts with the “23” on the front gate: “There’s a lot of work that would have to be done to make it your own,” said Bowers.

Jordan purchased the home in 1991 for USD$2 million, the same year he won his first ring with the Chicago Bulls. Built from scratch, it was constructed entirely to accommodate his personal tastes. The tree-lined drive from the gate leads to the front of the nine-bedroom house, ensuring complete privacy for an A-list type. As expected, MJ’s home comes with a full-size basketball and tennis courts and PGA-approved putting green where Jordan would spend most of his time. If you were wondering, yes, the golf flags even come with MJ logos on them.

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Image: The Michael Jordan Estate

Coming fully furnished, the unique home includes a set of doors from the original Playboy Mansion, a games room with a snooker table, a fully equipped cigar room where Jordan would famously hold high-stakes poker tournaments, and somewhat bizarrely, a dining table where the tabletop has inspired by the streets of Baghdad.

Other highlights include a full fitness studio, a one-of-a-kind infinity pool with a grass island in the middle of it, and a luxurious library room that, according to Concierge Auctions, was his favourite part of the property. Despite all this,  MJ’s estate remains unsold, and it’s not from a lack of trying.

Michael Jordan House Illinois

Image: The Michael Jordan Estate

Working with a team of agents, Jordan made a few creative attempts to secure a buyer, such as marketing to wealthy people in basketball-crazed China. After that didn’t work, the agent working to sell the house in 2015 even promised the buyer every edition of Air Jordans in their size – but again, no luck. Adam Rosenfeld of the luxury-real-estate startup Mercer Vine told Marketwatch in 2016 that Jordan was likely struggling to sell the house because of all of the personalised customisations.

Rosenfeld also said the house wasn’t located in an area where wealthy celebs are looking to live. Gail Lissner of Integra Realty Resources claimed that part of town was “much more modest” than Jordan’s property suggests. Most of the homes in this price range are closer to Lake Michigan, a few miles east of Jordan’s property. “Buyers at that level in that area tend to want to be closer to the lake,” Missy Jerfita of Berkshire Hathaway Homes Services told The Real Deal.

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Image: The Michael Jordan Estate

Another issue is that Jordan may feel his stature and celebrity status add to the house’s value; however, Stephen Shapiro of Westside Agency believes people don’t cough up more cash because a famous person lived there. “But you know who tends to think a property is worth more because a celebrity lived there?” Shapiro said. “The celebrity trying to sell it.”

While Michael Jordan won’t be struggling to pay his bills any time soon, the basketball great is reportedly paying annual property taxes of more than USD$100,000 and has forked out over USD$700,000 since putting the estate on the market in 2012. In addition to his Chicago mansion, The Charlotte Hornets owner boasts a neat portfolio that includes two homes in North Carolina and a mansion in Jupiter Island, Florida.

Check it out

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Image: The Michael Jordan Estate

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Image: The Michael Jordan Estate

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Image: The Michael Jordan Estate

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Image: The Michael Jordan Estate

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Image: The Michael Jordan Estate

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Image: The Michael Jordan Estate

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Image: The Michael Jordan Estate

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STAFF WRITER

Sam Mangioni

Sam Mangioni is an experienced Staff Writer with an extensive background in digital content production and news. Prior to working for Man of Many, Sam spent three years at Southern Cross Austereo where he served as a Content Producer and News Reporter for the flagship Triple M Breakfast Program. The Sydney-based reporter completed a Bachelor of Commerce from Macquarie University Majoring in Marketing in 2014. A specialist in sport, lifestyle and gear coverage, Sam's work has also featured in Fight News Australia.