Billionaire Michael Jordan Forced to Dish Out More Money on an Unwanted Mansion Than the Average Price of Becoming His Neighbor

Michael Jordan’s life off the court is as King sized as his career. Lucrative deals and ventures were part of Jordan’s journey right from his entry into the NBA. On the back of such deals, his fortune soared to remarkable levels even after retirement. The five-time MVP spends this fortune wisely by investing in other profitable ventures, but he does not forget to spend it in style as well. Private jets, exotic cars, customized golf courses, and luxury mansions are some of the many rare purchases of His Airness. The former Chicago Bulls’ legend stands out also as a prolific businessman who has turned everything that he touched into gold. However, a failed deal has been troubling the legend’s finances for quite some time.

MJ 23 has pursued fortunes wisely. Ranging from a lucrative shoe deal with Nike to investments in sports teams, Jordan has got his returns from most of these deals. Among his many investments and purchases are his luxury mansions. Real estate often comes across as a sector that guarantees good returns. However, one of MJ’s mansions has failed him.

An Unwanted Mansion is costing Jordan

It has been more than a decade since Jordan has listed his Highland Park mansion in the markets. Originally listed for $29 million, the price of the property has now come down to $14.9 million. Apart from the price drop, MJ has spent more than $680,000 in taxes for the same house since he put it up for sale. His Airness has tried several ways including cutting the price to get the deal done. However his efforts did not bear fruit.

One of the reasons why MJ cannot find a buyer is the fact that the house is his personal palace. According to an article in the Insider, the house has undergone tremendous customizations to become the palace of His Airness. The iconic ‘number 23’ is emblazoned on the gates to the estate. Likewise, Jordan has etched many parts of his persona to the house that a buyer might find it difficult to make it their own.”It’s clearly his home, there’s a lot of work that would have to be done to make it your own,” said Bruce Bowers of Bowers Realty Group to the Insider.

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The Palace that is a Misfit

The mansion is a misfit in the neighborhood. According to an article in the Insider, houses in the Highland Park neighborhood have a median value of $476,391. People will hesitate to spend millions on a mansion that sits in a 400 grand neighborhood. Moreover, it is quite interesting to note that MJ has already paid taxes worth more than an average Highland Park house for this unwanted mansion.

The mansion comes with all the luxury that one can ask for. An infinity pool, a golf area, and a tennis court are some of the many attractions of His Airness’ castle. Even with all these glitters, the house is not gold. It is a ‘never never nest’ which is costing MJ23 a fortune.

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