Monday, April 29, 2024

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

michael jordan chicago house

Built in 1995, the contemporary-style mansion has 15 full bathrooms, 4 half bathrooms, a regulation-sized basketball gymnasium, a circular infinity pool and a cigar room. The property has 56,000 square feet of living space in total, including the basement and the garage with space for 15 cars, while outside on the grounds are a tennis court and a putting green. After looking inside the house, there’s no question that it has Michael Jordan written all over it.

michael jordan chicago house

The library upstairs was said to be MJ's favorite room. It features a drop-down movie screen.

And outside, there’s a tennis court, a putting green, and an infinity pool with a grass island in the centre. Not only does Michael Jordan have his Chicago and Florida properties, the Basketball star also has a $2.8M lakefront home in Cornelius, North Carolina. The house is a 30-minute drive from the Charlotte Hornets arena, the team Jordan owned until earlier this year. The North Carolina property has six bedrooms, a large pool, a private dock, large windows and is surrounded by the lake.

The home also features a full gym.

The mansion is located in the gated community of The Bears Club and includes various luxury amenities including a golf course, 11 bedrooms and bathrooms, a basketball gym and a pool. Jordan’s penchant for new builds extended to his next real estate purchase. The NBA legend paid an undisclosed amount for a massive vacation home in Park City, Utah. The stone-and-wood mansion measures 9,574 square feet and features a total of five bedrooms and eight bathrooms. The grandeur begins at the entrance, with a museum-like stone walkway leading up to a double-height glass door.

Why Is Michael Jordan's $14.9M Chicago-Area Estate Still Unsold? - Finurah

Why Is Michael Jordan's $14.9M Chicago-Area Estate Still Unsold?.

Posted: Sun, 28 Jan 2024 08:00:00 GMT [source]

The Front Gate

They later invested heavily into customizing and upgrading the 9-bedroom home, adding unique features — including a pool anchored by a grass island. Another home the retired NBA star spends time in is his $2.8-million lakefront mansion in Cornelius, N.C. The 12,310-square-foot lakefront property is just outside the city. Fox Sports reported Jordan purchased the home in 2013 — right around the time he failed to auction off his Chicago mansion.

The new home covers 9,100 square feet with five bedrooms, six bathrooms, a four-car garage, pool and a guest house. Adam Rosenfeld, of the luxury real estate start-up Mercer Vine, told Marketwatch in 2016 that Jordan was likely struggling to sell the house because of all of the personalised customisations. The NBA superstar’s home was built at the height of his career and comes with 9 bedrooms, 14 parking spaces, and some pretty out-of-the-ordinary customizations — including a door taken straight from the original Playboy mansion. Despite his troubles to sell his Chicago mansion, Michael Jordan is living the high life. Apart from his former $90 million Chicago Bulls salary, he's scored numerous endorsements over the years, including Nike, Wheaties, Gatorade, Hanes, MCI, Chevrolet, McDonald's, and Coca-Cola. These still reportedly earn him $80 million a year (via Virtual Globetrotting).

michael jordan chicago house

The sprawling property sits on 3 acres and is surrounded by tall trees and lush landscape, to protect the baseball legend’s privacy. He picked up two large properties in North Carolina, a state dear to his heart for several reasons. In addition to owning their NBA team, the Charlotte Hornets, Jordan often calls North Carolina his home state — he spent his childhood living here after his parents moved to the Tar Heel State when he was just a toddler. Fitting for one of the greatest NBA players of all time, Michael Jordan owns many houses around the country, from Illinois to Florida, North Carolina, and Utah. After seeing the house Jordan’s family lived in, he distinctly remembers telling himself that one day, he too will live in a lavish home and get his mom out of poverty.

In 1993, during his historic NBA career, Michael Jordan opened his first restaurant in Chicago and has since grown his brand to the national level. In 1998 the first Michael Jordan’s Steak House opened, delivering an unparalleled dining experience elevated to a level you’ve come to expect from the Legend himself. As the G.O.A.T would say “Some people want it to happen, some wish it would happen, others make it happen.” For over 20 years his concepts have created unprecedented experiences for everyone at the table.

There’s also a three-bedroom guesthouse on the premises — which likely saw its fair share of sports celebrity guests over the years. Palm Beach County official records show the sale of the home was completed March 27 between former homeowners Michael A. Our award-winning wine and cocktail program is rooted in Michael Jordan’s passions. From our seasonal cocktails featuring Cincoro, a premium tequila developed by MJ and friends, to our deep wine list that features selections from MJ’s personal collection, you’ll find the perfect drink for your meal. MJ lived in the main house for more than 19 years, and the house comes fully furnished – although as you can see, some of the pieces are a tad dated. Moving along to the dining room, guests are invited to sit and eat at a “Baghdad table” – so called because the street grid seen on the tabletop is that of the Iraqi capital.

Michael Jordan's 56,000-square-foot, 7-acre compound in Highland Park, Illinois, looks massive even from the air.

A visit to the cigar room shows a decorated ceiling and a high level of detail. It also has plenty of card tables where we’re guessing Jordan played some high-stakes poker games – he is known for his love of gambling, after all. In one of the eating areas just off the kitchen, there is even a large aquarium built into the wall. This 56,000-square-foot home has been listed at the same price now for seven years. After playing for the Chicago Bulls for several years, Jordan settled down in his Chicago mansion in 1994 and lived there for 19 years. “A penthouse on Lake Shore Drive that Chicago Bulls great Michael Jordan bought in the 1990s and his ex-wife sold in 2014 sold quietly in May for $6.82 million,” Dennis Rodkin of Crain’s Chicago wrote.

As of 2020, he reportedly spends most of his time at his $12.4-million house in Jupiter, Fla. located in The Bear's Club, a luxurious community designed by famed golfer Jack Nicklaus (via Yahoo Sports). The 28,000-square-foot house includes 11 bedrooms, a two-story guard house, full-size basketball court, and cigar-friendly media room, according to Echo Fine Properties. Michael Jordan’s homes are, perhaps, almost as impressive as his basketball accomplishments. During his career and since his (final) retirement, Jordan has also invested much of his fortune in real estate, acquiring a handful of multimillion-dollar mansions over the years.

Jordan first listed the mansion at the start of March 2012 for $29 million, and then cut his asking price in early 2013 to $21 million. The basketball icon’s Highland Park, Illinois home was recently re-listed for $14.9 million (roughly half its original $29 million ask price). On the market since 2012, 2700 Point Lane has attracted some renewed interest following ESPN’s critically-acclaimed Michael Jordan documentary. In order to sweeten the deal, Jordan has also promised the buyer a pair of every Air Jordan sneakers tailor-fitted to the buyer’s size. Although this seemed like an enticing proposition added to the mix, it hasn’t been successful as Jordan still continues to struggle until this day to sell off the mansion. In fact, the more customized the home is, the harder it is to find the right buyer for it.

Unsurprisingly, the custom-designed home includes a regulation-sized basketball gym. But there’s also a circular infinity pool, putting green, tennis court, and cigar room, each with Jordan’s signature touch. The unique features in the house also make this a hard purchase for clients. At the time, the basketball legend and his then-wife, Juanita Vanoy, paid $2 million for the property.

Today, Jordan owns an 11-bedroom, 28,000-square-foot, $12.4 million mansion on 3 acres in Jupiter, Fla. He also paid $3.14 million in 2010 for the two top-floor penthouses in a condominium in downtown Charlotte, N.C., just two blocks from the arena where the NBA team he owns, the Hornets, plays. And he owns a six-bedroom, 12,310-square-foot mansion in Cornelius, N.C., which he purchased in 2013 for $2.8 million.

Michael Jordan's estate is next to a main road, but is beautifully surrounded by a fence of evergreens. One can only imagine the star-studded parties Jordan threw there back in the day. As is clear from various reports, Jordan has been doing just fine since he decided to step off the court. Not only has his net worth grown since his basketball days, but he also lives with wife Yvette Prieto in various luxurious properties around the nation. There is no need to worry about the house rotting while it remains unsold, though. The mansion is reportedly still occupied by staff employed to keep it looking fresh.

Plus, Jordan also owns an 80% stake of the Charlotte Bobcats NBA team, and he privately owns a $50 million Gulfstream IV jet. Next to the house — but on the same property — is a three-bedroom guesthouse with its own family room and kitchen. Construction for Jordan's mansion started in 1991 and was completed in 1995, per Virtual Globetrotting. There’s an infinity pool with a grass island in the middle, and down on the lawn there’s a putting green complete with Jordan brand flag sticks.

Multi-skilled, Jennifer has worked in PR and marketing, and the occasional dabble in the social media, commercial and e-commerce space. Over the years, she has written about every area of the home, from compiling design houses from some of the best interior designers in the world to sourcing celebrity homes, reviewing appliances and even the odd news story or two. An inside look at the $14.9 million mansion of Chicago Bulls legend Michael Jordan in Highland Park, a suburb of Chicago.

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