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Billionaire Michael Jordan Suffers as $29 Million Worth Chicago Mansion’s 10-Year Struggle Prolongs

Published 11/26/2023, 11:56 PM EST

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The iconic 23 on the gate to a 32,685-square-foot mansion. Nine bedrooms. A 15-car garage. 15 baths. An infinity pool. A basketball gym. A putting green. A temperature-controlled wine cellar and the list does not end. The asking price for Michael Jordan‘s 2700 Point Lane, Chicago mansion in 2012? A deserving $29 million. Three years later, the property value plummeted to $14,855,000. Well, it has been a decade since the property was first listed and the asking price remains unchanged. Yet, it still can’t find a buyer.

$14,855,000 isn’t a random pick. The house is priced thus because the digits add up to his playing uniform number 23. Despite being heavily marketed, including the infamous I Am campaign, MJ continues to pay taxes for the mansion even today. So, what’s the hold-up? Real estate experts answered. 

Michael Jordan has put an enticing offer on the market to sell his Chicago mansion  

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Jordan purchased the 56,000 sq ft mansion in 1995 and lived there for 19 years before relocating to North Carolina. According to reports, the property was built for an outrageous $50 million in 1995. However, now it might not even get sold for $14 million, which is a tremendous loss considering inflation. Thus, Jordan has decided to give away a few things that could attract buyers.  

To start with, the 60-year-old has decided to give away all the furniture along with the mansion. Also, he has announced that the buyer of the property will get a complete collection of Air Jordan shoes. While this sounds like an impressive deal, the mansion comes with a few concerns that has derailed the process since a decade now.  

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Did Michael Jordan make a home or an homage?

Although it is a huge property with impressive amenities, the entire mansion is personalized according to Jordan’s desires. For starters, the mansion has several “Air Jordan” logos scattered throughout in addition to a basketball-shaped swimming pool, which may not appeal to the buyers. Oh, and let’s not forget the trophy room. Jordan’s playing career saw him bag a lot of trophies, but such a room would simply be extra space for anyone who isn’t an athlete.

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Mike’s love for smoking also raises an issue. The house has a custom-made cigar cabinet, designed only to appease the 6x Champ. It seems that any potential suitors are wary of moving into the temple of the Black Cat. Perhaps this property is waiting for a wealthy Chicago Bulls fan to swoop in and live out their dreams.

Watch This Story: “How Michael Jordan comparisons hampered multiple MVPs for LeBron James? Gilbert Arenas explains”

Apart from the personalization, there is an issue of location too.  It seems that buyers would prefer a house closer to Lake Michigan at the price this house commands, but right now that is not the case. MJ is infamously private so the secluded location might have suited the 6-time champion. However, it’s clearly not everyone’s cup of tea.

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While the property does come with a lot of freebies right now, will it be enough for potential buyers to look past the heavily personalized decor? What are your thoughts on MJ going all out to sell his mansion?

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Written by:

Rohan Dharmalingam

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Edited by:

Ananya Giri