Michael Jordan’s Finally Sells Highland Park Mansion For $9.5 million
Michael Jordan is one of the most successful and well-known athletes of all time. He has won six NBA championships, five MVP awards, and countless other accolades.
Despite his success on the court, Jordan has been struggling to sell his Highland Park mansion for over a decade. It finally sold towards the end of 2024 at just $9.5 million after trying to sell it for $29 million in 2015.
The 7-acre property, which features a regulation-sized basketball court, a putting green, and a pool, was on the market since 2012, almost 12 years before finally achieving a sale.
The mansion, located in a suburb of Chicago, was initially listed for $29 million, but the price has been steadily dropping over the years. In 2015, the listing agent even offered to throw in every edition of Air Jordans in the buyer’s size as an incentive.
Despite the property’s luxurious amenities and celebrity owner, it remained unsold. The question remains: why couldn’t Michael Jordan sell his Highland Park mansion?
The Legend of Michael Jordan
Jordan’s Highland Park mansion is a 56,000 square foot estate that features nine bedrooms, 15 full bathrooms, and four half bathrooms.
The mansion sits on seven acres of land and includes a regulation-sized basketball court, a putting green, and a tennis court. It also has a pool with a pool house and a three-bedroom guesthouse.
Despite its impressive features, Jordan’s Highland Park mansion has been on the market for over a decade. He initially listed the property for $29 million in 2012, but lowered the price to $14.9 million in early 2024 before closing at $9.5 million later in the year..
It’s clear that Michael had to take several price cuts and take a massive loss. Fortunately, he bid farewell as he purchased a new $17 million mansion in Jupiter, Florida.
Highland Park Mansion Overview
The house was designed by architect Richard Landry and was completed in 1995. The mansion features clean lines, a neutral color palette, and large windows that provide plenty of natural light.
The mansion’s exterior is made of limestone and features a circular driveway that leads to the entrance of the house.
Luxurious Amenities
The Highland Park Mansion is equipped with luxurious amenities that make it the perfect place to live for those who enjoy the finer things in life.
The mansion has nine bedrooms and nineteen bathrooms, a full-sized basketball court, a home theater, and a wine cellar.
The mansion also has a fitness center, a pool, and a tennis court. The house is equipped with a smart home system that allows the homeowner to control the lighting, temperature, and security system from their phone.
Market Challenges
Another factor that affects pricing is the cost of maintenance. The mansion sits on a 7-acre compound, and the upkeep of such a large property can be costly. This may deter some buyers from considering the property, as they may not want to take on the additional expenses.
The home will also need to be renovated as the new owner will likely not want to keep all the “23” memorabilia.
Target Buyer Profile
Moreover, the mansion is located in Highland Park, which is known for its high-end real estate market. This means that the target buyer profile would need to be someone who can afford the price tag and is looking for a luxury property in the area.
Real Estate Trends
Finally, real estate trends may also play a role in the challenges of selling the mansion. According to recent reports, the luxury real estate market has slowed down in recent years. This means that there are fewer buyers looking for high-end properties, which may make it harder to sell the mansion.
Illinois also has one of the highest property tax percentages in the country at over 2%. This could cost the new owner $3 million in property taxes each year alone.
