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Michael Jordan's Highland Park mansion still on the market after nearly 10 years
At the end of February, his Highland Park mansion will have sat unsold on the real estate market for 10 years.
HIGHLAND PARK, Ill. - Chicago Bulls legend Michael Jordan reached many amazing milestones over the course of his illustrious basketball career. Unfortunately, he is about to hit a milestone off the court that he might not be too happy about.
In a story first reported by the Chicago Tribune, at the end of February, Jordan's Highland Park mansion will have sat unsold on the real estate market for 10 years.
The property is 7.37 acres. The home is more than 56,000 square feet of living space fit for basketball royalty, including a full basketball court and an entrance emblazoned with MJ's legendary jersey number: 23.
But are those one-of-a-kind features helping or hurting the property's appeal?
"I think at this point, we can say it's certainly not helping because if it were helping the house would sell, right?" said Dennis Rodkin, Real Estate Reporter for Crain's Chicago Business.
Rodkin says given the home's price tag of $14.855 million, which hasn't budged in seven years and was originally listed at $29 million in March 2012, he's not surprised the 1995 property hasn't sold.
"It's a very specific house," said Rodkin. "It was built for Jordan and his family. It was built for a tall person. Kitchen cabinets and counters are high, things like that. But the other thing is, it's two miles from the lakefront."
Rodkin says in Highland Park, no one's paid more than $8 million for anything that far from the lakefront. The MJ compound sits west of Highway 41.
"There are very few people who buy $14 million dollar homes in the Chicago area," said Rodkin.
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Jordan's agent says there's been increased interest since the hit documentary "The Last Dance" debuted in 2020, but still there’s been no takers.
Rodkin says one realistic possibility is that Jordan will donate the property to a Bulls-related charity, who could then sell it for a profit, while Michael could take the charitable write-off. Rodkin says that option would help a good cause and also allow Jordan to do something good, and would make a better headline than him taking a huge loss on the property.