Monday, April 29, 2024

Why Is Michael Jordans $14 9M Chicago-Area Estate Still Unsold?

michael jordan chicago house

The custom designed property includes a regulation-sized basketball gymnasium, circular infinity pool, putting green, tennis court, and cigar room, each with Michael Jordan's signature touch. Jordan married his first wife, Juanita Vanoy, in 1989, and the pair purchased a Chicago penthouse together a few years later for $3 million. The 8,000-square-foot dwelling was made up of units on the 39th and 40th floor combined and included four bedrooms and five-and-a-half bathrooms overlooking Lake Michigan and the city skyline through floor-to-ceiling windows. The home featured an open layout with an all-glass solarium that housed a lounge and dining area, as well as a media room with a built-in humidor (Jordan is a known cigar fan). The penthouse also boasted a private rooftop deck measuring 1,000 square feet with a built-in grill, professional landscaping, and multiple areas for entertaining.

The putting green is complete with Jordan Brand flag sticks.

Teenager arrested for breaking into Michael Jordan's $15m Chicago mansion - Daily Mail

Teenager arrested for breaking into Michael Jordan's $15m Chicago mansion.

Posted: Thu, 06 Apr 2023 07:00:00 GMT [source]

Fast-forward 12 years, and the Highland Park, Illinois, property still awaits a new owner, now being offered at an asking price nearly half of the initial ambitious valuation envisioned by the NBA legend and his real estate agents. Michael's house has a regulation-size basketball court, splashed with his name and the Jumpman logo. He used to have his teammates over on some practice days to lift weights and eat breakfast before going to the official team practice, according to former teammate Randy Brown. Michael Jordan purchased this 56,000-square-foot property during the time when he won the first of six NBA championships. Around 1991, the property cost Jordan and his then-wife Juanita Vanoy $2 million. Moreover, he also added that this was the very home his children grew up in.

Michael Jordan's Chicago mansion has been on the market for 10 years. See inside — and why he can't sell it

The property also reportedly boasts a three-bedroom guest house which has its own family room and kitchen. Jordan has tried to sweeten the pot by cutting the price nearly in half and throwing in a complete set of Air Jordans with the purchase of the house. And yet, it remains unsold and he pays more than $100,000 in annual property taxes.

North Carolina Lake House

A few price drops later, Shaquille O’Neal finally found a buyer in late October 2020, when he sold his Orlando estate for $11,000,000. The sprawling upscale 1000 North restaurant and private club was brought to life by a group of investors including Michael Jordan, golf star Ernie Els and Cigar Aficionado’s founder/publisher Marvin Shanken. According to Realtor.com, there are just 61 estate homes in the Bear's Club.

The driveway is flanked by lush greenery, leading to the impressive nine-bedroom, 19-bathroom (15 full and 4 partial), and 14-car garage house located at 2700 Point Lane. The mansion’s listing on Zillow says the property was built in 1995 and was only lived in for 17 years before it went on the market — almost just as long as the retired Chicago Bulls legend has been trying to sell it. The grounds of the mansion house a tennis court as well as a small golfing area, complete with Jumpman golf flags.

michael jordan chicago house

He’s still paying more than US$100,000 in annual property taxes

And while that might sound hefty, as the listing notes, the property has been fitted with every conceivable luxury amenity. He first listed it for sale in 2012 with a whopping $29 million asking price, but the Highland Park home failed to attract interested buyers. Nevertheless, if you’ve taken notice of the palatial houses Michael Jordan was filmed in, and thought they might be rooms in his actual residence, know that the real thing is even more impressive. The seven-acre estate was the home court for Jordan's Breakfast Club -- that propelled the Bulls to six NBA Championships.

Inside Michael Jordan’s Homes Across the Country

Of course, since this is the former home of Michael Jordan, there is a full-court basketball court. It’s the centrepiece of the house and has the legend’s name at both ends as well as the Jumpman logo at its centre, which also includes the names of his children. The price on the house has dropped several times and is currently on the market for US$14.9 million, The house was originally listed for US$29 million. As a prospective buyer approaches the gated property, he or she is greeted by the bold display of Jordan’s iconic number 23 emblazoned on the wrought-iron gate.

michael jordan chicago house

The couple divorced in 2006, and Vanoy, a real estate agent, eventually sold the property for $3.2 million in 2014. Most people may know about Jordan’s Chicago home, but where does he reside now? The legendary basketball icon now lives in his Florida mansion located in Jupiter. The $25 million dollar mansion spans over 28,000 square feet and serves as the primary residence for Jordan and his family.

The property is located on the intersection of Lake Norman and the seventh hole of The Peninsula Golf Club. Several years after he officially retired from the NBA, the pro athlete returned to his home state of North Carolina. The same year that he officially became the majority owner of the Charlotte Bobcats (now the Hornets), he paid $3.15 million for two condos on the top-level of a building in uptown Charlotte, combining them into one sprawling unit. The residence measures 7,000 square feet; Jordan had a private elevator installed to maximize privacy. He still appears to own this property, though with his decision to sell his majority stake in the team in 2023, it’s possible that he could also be looking to offload the property soon. The focal point of the home is a full basketball court, painted with the Jumpman logo.

See inside the house Michael Jordan has been trying to sell for more than 10 years - Marca.com

See inside the house Michael Jordan has been trying to sell for more than 10 years.

Posted: Sat, 27 Aug 2022 07:00:00 GMT [source]

Jordan's favorite area of the house was the upstairs library, this lounge nook, and the billiards room next to it. The doors leading to a billiards room are actually the doors from the original Playboy Mansion in Chicago. The front gate of Michael's Highland Park, IL, mansion is emblazoned with his iconic jersey number, of course. The local tax assessor assigns a market value of $4.77 million to the property. Having worked in the interiors industry for a number of years, spanning many publications, she now hones her digital prowess on the 'best interiors website' in the world.

Also in 1991, at the height of his basketball career, Jordan purchased a seven-acre lot in Highland Park, Illinois for an undisclosed amount. There, he planned to build a mansion customized to his particular taste and aesthetic. Four years later, construction was complete on his 56,000-square-foot residence, including a tennis court, an infinity pool, a putting green, and a man-made pond. The contemporary-style home sits at the end of a long, private driveway protected by a security gate with the number 23 famously displayed for all visitors to see.

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