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Will Sheltering in Place Finally Help Michael Jordan’s Mansion To Score a Buyer?

Compass, Timothy A. Clary/Getty

It’s been eight long years for Michael Jordan‘s mansion. Since 2012, the Chicago-area home of basketball’s greatest has simply been sitting on the market.

Price cuts haven’t helped. Elaborate videos haven’t clinched a deal. And the afterglow of the “Last Dance” has worn off—a little.

Perhaps the global pandemic, though, will finally push a sale to a close.

Until now, a giant, self-contained property with endless acreage and oodles of interior space might have constituted a hurdle in buyers’ minds. Now, those assets seem almost ideally suited for the times.

“The pandemic concerns have created a new need for space, seclusion, and the capability to create one’s own vacation environment,” says the listing agent, Katherine Malkin with Compass.

“This gives buyers the opportunity to look at this house differently than they did before. It now has a dual purpose of being both a vacation home and a permanent home at the same time.”

A Compass marketing rep tells us that the company has seen an increase in searches for homes offering abundant outdoor space and pools. Jordan’s estate ticks both those boxes—in a big way.

Malkin told us the popular ESPN documentary has contributed to awareness of the home.

“I think the showcase of Mr. Jordan’s life as a Chicago Bulls player,” she says, in reference to the recent documentary, “has also stimulated a new interest in the property.”

All that being said, the Highland Park, IL, home is still in search of a buyer with $14,855,000 to spare. Its price tag puts the mansion in third place among the priciest properties in Lake County, IL.

Jordan’s number adorns the front gate, and his outsize fingerprints are all over this property. The 56,000-square-foot estate comes equipped with “every conceivable luxury amenity,” according to the listing details.

The custom-designed property includes a regulation-sized basketball gym, circular infinity pool, putting green, and tennis court, each bearing “Jordan’s signature touch,” the listing description asserts.

That may be great if your name is Michael Jordan, but the home has proved a challenge to sell to a buyer with a different name.

Gate of Michael Jordan’s home in Highland Park, IL

Compass

Entry

Compass

Living room

Compass

Game room

Compass

Circular infinity pool

Compass

Basketball court

Compass

Outdoor living space

Compass

The sprawling estate, custom-built for “His Airness,” was completed in 1995, when Jordan was in the middle of his second championship run with the Bulls.

It came on the market in 2012, with a list price of $29 million. When that failed to entice a buyer, the price was sliced to $21 million in 2013, and to $16 million in 2014, before arriving at its current price in 2015.

Despite the extensive price machinations, the 7-acre property has yet to sell.

The estate has undergone “extensive renovations” since it was built, including the addition of a cigar room and modern appliances.

In addition, the deluxe, nine-bedroom abode with 15-plus bathrooms incorporates a great room, floor-to-ceiling windows, and an outdoor patio that can be accessed from multiple areas of the home. The grounds also feature a separate guesthouse.

In addition, the property is hallowed ground, as the site of the famed “Breakfast Club” for Jordan’s teammates Scottie Pippen, Ron Harper, and Randy Brown.

The players met at the residence for predawn workouts and morning meals prepared by Jordan’s personal chef. As we now know, the efforts ultimately succeeded.

As we also learned from “Last Dance,” Jordan has since moved on from the property, purchasing homes in Jupiter, FL, and North Carolina.

Now, we’ll see whether a global crisis can spur anyone to step into Jordan’s enormous shoes and finally leap at the chance to own his home.

The post Will Sheltering in Place Finally Help Michael Jordan’s Mansion To Score a Buyer? appeared first on Real Estate News & Insights | realtor.com®.

from https://www.realtor.com/news/celebrity-real-estate/renewed-interest-michael-jordan-mansion-illinois/

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