Among the very few challenges Michael Jordan has faced in his illustrious life, his inability to sell his Chicago mansion stands out. First listed in 2012, the mansion is back on the market with an unchanged price tag of $14 million.
Jordan, who boasts an impressive real estate portfolio with several mansions across the country, has not encountered issues selling other properties or even a struggling NBA franchise for $3 billion. However, his 56,000-square-foot Chicago property remains an exception.
Currently listed on Zillow, the mansion offers every luxury amenity imaginable. It features nine bedrooms, 19 bathrooms, an office space, a library, a 14-car garage, and more.
When the property first hit the market in 2012, it was listed for $29 million. The price was reduced to $21 million the following year and is now available for $14,855,000. Interestingly, the sum of the digits in the current price totals 23, Jordan’s iconic jersey number.
Despite the significant price drop of almost $15 million, high-end buyers have shown little interest. The mansion, built during Jordan’s tenure with the Chicago Bulls, is back on the market after three years in hopes of attracting renewed interest, but it remains unsold.
Several factors contribute to the property’s prolonged time on the market. Major outlets suggest that the primary reason is the mansion’s extensive customization for Jordan. The entrance gate, emblazoned with a large number 23, is visible from a mile away.
Additionally, the mansion’s location in the suburban luxury market of Illinois is seen as a drawback. Even with the price drop, many believe it is still overpriced for the area.
Following the release of “The Last Dance” documentary in 2020, there was a spike in interest in the property, but no offers materialized.
With its recent re-listing, there is hope that the Jordan estate will finally find a buyer willing to appreciate both the luxury and historical significance of the property.