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Why Won’t Anybody Buy Michael Jordan’s Mansion? 

Last Updated: July 1, 2023
Michael Jordan’s mansion has been on the market since 2012. Boardroom takes a look inside His Airness’ Highland Park property & asks why nobody has purchased the estate.

Nine bedrooms, 15 baths, a regulation-size basketball gym, an infinity pool, a putting green, a dedicated cigar room, and much more.

All inspired by His Airness.

Michael Jordan’s Highland Park home is currently on the market for $14.85 million — quite the asking price for a 56,000-square-foot property replete with the signature touch of the one and only Air Jordan.

But, while one would think the estate of perhaps the most-esteemed professional athlete, let alone the greatest NBA player of all time, would be off the market in no time, the opposite appears to be true.

Jordan’s mansion has been listed, and relisted, several times since it initially went up for sale in 2012 — when the asking price was $29 million. So, what gives with the GOAT’s house?

Let’s have a look at what makes MJ’s place so special, and why perhaps the legend’s property remains on the market.

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Inside the Michael Jordan 18-room Mansion

Want to schedule a tour of MJ’s home? It’s easier than you’d think, provided you qualify financially of course.

Just in case it’s a little outside your price range, the folks at Realtor.com offer a decent glimpse inside the home at 2700 Point Lane, describing it as “equipped with every conceivable luxury amenity — a physical monument to his tireless dedication and hard work.”

Built in 1995 — the same year Jordan would famously return to the Chicago Bulls after a short stint playing baseball — the 32,685-square-foot mansion quarters are loaded with luxury.

In addition to the aforementioned amenities, there’s also a 15-car garage, steam shower, den, study, outdoor grill, fire pit, and according to this 2013 ESPN article, “a gentleman’s retreat, complete with a library, wet bar and the original doors from the Playboy mansion in Chicago.”

And don’t forget about the iconic “23” on the gate of the property.

But of course, with luxury comes expenses. The property boasts $135,969 in annual taxes, according to the listing.

The History of Jordan’s Home for Sale

A year after going on the market for $29 million, the price of the home dropped to $21 million.

Shortly thereafter, following an unsuccessful attempt to sell it at auction, the price was dropped again and relisted for $16 million.

It wasn’t until 2015 that the home was listed at its current price — $14,855,000. The price, according to this 2022 article in the Chicago Tribune, was selected because the digits add up to his playing-career uniform number of 23.

And there it has remained.

But it’s not for a lack of trying. The property has been heavily marketed over the years, most notably in a campaign from seven years ago featuring a hype video called “I Am” using Jordan’s voiceover and a tour of his impressive estate. The video, which has 2.1 million views on YouTube, encourages buyers to own “the ULTIMATE Sports & Entertainment Estate.”

Why Hasn’t the Michael Jordan Mansion Sold?

Maybe it’s the suburban luxury market in Illinois? Maybe it’s the fact that the home is literally built for Michael Jordan? Or maybe it’s something else.

The general sentiment around the non-sale of the property, however, is that it’s simply overpriced for the neighborhood it is in.

Gail Lissner, a managing director at Integra Realty Resources, told BusinessInsider in 2019, that the comparable home prices in the area may be a challenge.

“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,” she told BI. “It’s located in an area that is much more modest.”

But that doesn’t mean there are no interested parties.

Katherine Malkin of Compass, the current listing agent for MJ’s estate, told Boardroom that she has been asked not to comment about the status or history of the property.

However, in the same 2022 article in the Tribune mentioned above, Malkin said there was a lot of interest in the estate.

“I’m not sure if it’s because of the TV programs that they did (like 2020’s “The Last Dance” documentary miniseries on Netflix) or if it’s because people have an interest in looking at it a little bit differently, but suddenly there does appear to be a bit of interest in it,” she told the Tribune.

So what will become of Jordan’s Highland Park home?

Will someone step up and pay a premium to own MJ’s mansion, or will His Airness offload a piece of his past for much less than he hoped? It appears only time, and the market will tell.

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