Michael Jordan’s Highland Park Mansion Finds a Buyer After 12 Years on the Market
Chicago Bulls legend and NBA Hall of Fame great Michael Jordan’s 56,000-square-foot Highland Park mansion has finally found a buyer after 12 years on the market. The estate, located at 2700 Point Ln., sits on over 7 acres and was initially listed for $29 million in 2012.
The Mansion’s Features
The mansion, built in 1995 after Jordan’s return from his first retirement, boasts an impressive range of features. These include nine bedrooms, 19 bathrooms, a basketball court, cigar room, tennis court, and swimming pool, according to the mansion’s listing on Zillow.
The Bachelor Pad Makeover
After Jordan’s marriage to Juanita Vanoy ended in divorce in 2006, the family home underwent a significant makeover to become a bachelor pad. The result is a 500-bottle wine cellar with a tasting room and cigar parlor trimmed in custom wood. The estate also features a putting green meticulously carved into the side yard, which Jordan’s former next-door neighbor, Lou Weisbach, revealed Jordan often missed with his chip shots.
Why it Took So Long to Sell
The mansion’s lengthy time on the market may be attributed to its highly specialized design and features. According to James Kutill, managing director at the Chicago branch of Integra Realty Resources, "It’s a very specialized building both in size and how it’s built. Finding someone who could really enjoy that property, it’s not an easy thing."
The Buyer’s Dilemma
The buyer of Jordan’s Highland Park estate will also have to contend with a hefty property tax bill of $148,018. The asking price was reduced several times, with the most recent change occurring in 2015. At that time, Jordan was willing to include 29 pairs of signature Jordans for anyone who met his asking price.
Expert Insights
Kutill believes that properties similar to Jordan’s Highland Park mansion may take years to sell, but notes that the NBA legend’s estate is an unusual case. "This isn’t a normal one," Kutill said. "I’ve not heard of a property on the market for that long very much in my career."
Conclusion
After 12 years on the market, Michael Jordan’s Highland Park mansion has finally found a buyer. The estate’s unique features and highly specialized design made it a challenging property to market and sell. However, the buyer who ultimately acquired the mansion will have the opportunity to enjoy the many luxuries and amenities that it has to offer.
Frequently Asked Questions
Q: How long has Michael Jordan’s Highland Park mansion been on the market?
A: The mansion has been on the market for 12 years, since 2012.
Q: How much was the mansion originally listed for?
A: The mansion was initially listed for $29 million in 2012.
Q: What are some of the unique features of the mansion?
A: The mansion features nine bedrooms, 19 bathrooms, a basketball court, cigar room, tennis court, and swimming pool, as well as a 500-bottle wine cellar and a putting green.
Q: Why did it take so long to sell the mansion?
A: The mansion’s highly specialized design and features made it a challenging property to market and sell.
Q: How much will the buyer have to pay in property taxes?
A: The buyer will have to pay $148,018 in property taxes.
