Michael Jordan is a living legend in the NBA, and he has a lot of money to show for it. But his Illinois mansion is not worth what he paid for it because of the state’s high property taxes. This situation highlights how high taxes can be an obstacle when trying to sell a home.
Michael Jordan is a retired NBA player and current owner of 2700 point dr, highland park, il 60035. The mansion has been on the market for two years now but no one can buy it because it’s too expensive.
Michael Jordan built one of the most opulent homes in the Chicago suburbs. Years later, the seven-acre property was offered for $29 million by the five-time MVP. Living in a house constructed by the greatest player in NBA history may sound like a pipe dream for many, but it seems that this isn’t enough to keep the property off the market.
Even when the asking price was reduced to almost half, the property has been unable to find a buyer for over a decade. Let’s take a look at this massive estate and why it’s been so difficult for His Airness to sell it.
A peek inside Michael Jordan’s home in Chicago.
Access to Michael Jordan’s Chicago house is controlled by a gate with the number 23 | Scott Olson/Getty Images
From the ground, you can know the property belongs to the NBA great since the gate is emblazoned with his famous No. 23. 40-foot evergreens encircle the property and offer seclusion for the house after a lengthy drive from the entrance. With a tennis court, an infinity pool, and a putting green, the outside area is undeniably stunning and expansive.
The inside of the house is just as impressive as the outside. The home has nine bedrooms, 15 full bathrooms, a three-bedroom guest house with four baths, and a 14-car garage on three levels. The house has many dining rooms and sitting rooms. According to Home Bunch, guests may dine at a Baghdad table in one of the dining rooms. There is also a large aquarium constructed into the wall of one of the dining rooms.
The house’s focal point is a full-size basketball court with Jordan’s name on both ends and the Jumpman emblem in the middle. A gourmet chef’s kitchen, cigar lounge, wine cellar, complete gym, library, and a pair of doors from Chicago’s original Playboy Mansion are among the other notable features.
Jordan has been trying to sell his Chicago home for nine years.
Jordan obtained full ownership of the home in 2007, a year after his divorce from Juanita Vanoy, according to NBA Fandom. His house was originally listed for sale in March 2012, with a $29 million asking price. No one was prepared to put so much money down, so the home sat on the market for a long time. Jordan lowered the price to $21 and then relisted it for $16 million a year later.
The battle went on. The property’s selling agent claimed in 2015 that they would offer a buyer every version of Air Jordans in their size as an incentive. The home is now listed for $14,855,000. The sum of the digits in the new listing, 14,855,000, equals 23, the famous number on Jordan’s jersey – and almost half of the original asking price.
Why has Michael Jordan’s home been on the market for over a decade?
One of the major reasons the home hasn’t sold, according to Forbes, is the high degree of customization inherent in the space. The No. 23 welded to the entrance gate is an example of this. According to Bruce Bowers, a real estate specialist from Real Deal, the house needs a lot of work. The changes would be prohibitively expensive. This may be one of the reasons why no one has purchased it yet.
Finding purchasers who can afford to buy and maintain such a big home is also difficult. According to CNBC, rapper 50 Cent waited a decade to sell his sprawling farm in Farmington, Connecticut.
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Michael Jordan is one of the most famous athletes in history. He has won six NBA Championships, five MVP awards, and three Finals MVPs. His net worth is $1 billion. Reference: michael jordan house chicago address.
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