Michael Jordan mansion sold: What led to Highland Park home selling well below $29M asking price
HIGHLAND PARK, Ill. (WLS) -- Michael Jordan's suburban mansion is officially off the market. The home in Highland Park sold this week for $9.5 million.
That's a far cry from the $29 million MJ was asking for when it was first listed more than a decade ago.
ABC7 learned more information Thursday about the sale.
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The mansion is a popular tourist destination for those visiting Highland Park. Everyone needs a picture of the front gate of the Michael Jordan house.
Maggie Antillon was taking one for her father Thursday.
"The reason my dad and I have all these amazing memories is he's the number one Michael Jordan fan," Antillon said.
Although, as of this week, Michael Jordan is no longer the owner of the house. After more than 12 years on the market, the home finally has a new owner.
"I don't think we've seen something where a home owned by a celebrity has been on the market for this kind of time," Chicago Tribune real estate columnist Bob Goldsborough said.
The land is sort of land-locked behind some other houses, railroad tracks and a nature preserve. So the land isn't easily developable.Bob Goldsborough, Chicago Tribune real estate columnist
Jordan first listed the 56,000-square-foot home for sale in 2012, asking 29 million for the property, which includes a full-size basketball court, putting green, cigar room, workout room, as well as nine bedrooms and 15.5 bathrooms.
After lowering it a couple times, in 2015 Jordan settled on a new asking price of $14.855 million. The digits added together equal Jordan's jersey number 23.
"He had that asking price until yesterday, when the sale closed," Goldsborough said. "So nine years, he didn't budge on his asking price at all."
The undisclosed buyer closed on the property for $9.5 million. Goldsborough says despite Jordan's star power, the building has a 90's institutional look to it and has some other challenges for the seller.
"The land is sort of land-locked behind some other houses, railroad tracks and a nature preserve," Goldsborough said. "So the land isn't easily developable."
The agent who sold the home has not responded to ABC7's calls, so it's unclear what the buyer plans to do with the house and whether they will keep the iconic 23 on the front gate.
