Michael Jordan’s Highland Park Home Finally Under Contract After 12 Years
Chicago Bulls Legend’s Lavish Mansion Attracts Suitor After Extended Listing
Property Once Listed for a Whopping $29 Million
After languishing on the market for an astonishing 12 years, Michael Jordan's sprawling Highland Park mansion has finally found a buyer, according to a recent report by Crain's Chicago Business. The palatial estate, initially listed for a staggering $29 million in 2012, has undergone several price reductions over the years, with the most recent asking price standing at $14.9 million.
The iconic property, situated on a secluded 7-acre lot, boasts a stately Georgian-style mansion spanning over 56,000 square feet.
The lavish abode features nine bedrooms, 15 bathrooms, a regulation-sized basketball court, a putting green, a tennis court, a swimming pool, a cigar room, and a wine cellar.
Despite its impressive amenities and prime location in one of Chicago's most affluent suburbs, the property has struggled to attract buyers since its initial listing.
Real estate experts attribute the protracted listing period to the home's exorbitant price tag, which has consistently exceeded the market value of comparable properties in the area.
Jordan, widely regarded as one of the greatest basketball players of all time, purchased the Highland Park mansion in 1991 for $2.5 million.
Over the years, the property has witnessed a series of renovations and expansions, including the addition of a separate guesthouse and a state-of-the-art fitness center.
While the identity of the buyer remains undisclosed, sources close to the deal indicate that the new owner is a Chicago-based entrepreneur.
The sale of Jordan's Highland Park home marks a significant event in the real estate market, as it signals a potential shift in the luxury home segment after years of sluggish sales.
The transaction is expected to close in the coming weeks, subject to customary closing conditions.
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