Why Has michael jordan house in Chicago Been on the Market for 10 Years?
The challenges of selling a 29 million michael jordan house
Sprawling 56,000 square foot michael jordan house in the Chicago suburb of Highland Park has been on and off the market since 2012. Originally listed for $29 million, the home remains unsold despite a series of price drops over the past decade. Read latest post about alex murdaugh house.
Real estate experts cite several factors that make selling a property of this magnitude challenging:
- The ultra-high price point – Even after price reductions, the home is listed at $14.9 million, which prices out all but the wealthiest buyers. There is a relatively small pool of buyers who can afford such an estate.
- Ongoing maintenance costs – In addition to the purchase price, buyers must consider taxes, upkeep, staffing, and utilities which can cost hundreds of thousands per year. This adds to the burden of ownership.
- Limited appeal – While the home is impressive, its highly customized nature caters specifically to Jordan’s taste. Significant renovations would likely be required to match a new owner’s preferences.
As the years pass, selling the home remains an elusive goal for the basketball GOAT. Its fate on the market continues to intrigue real estate watchers, especially those following Michael Jordan’s million mansion.
The uniqueness of the Highland Park estate and its impact on saleability
Michael Jordan spared no expense when custom building his Chicago area mansion in the 1990s, a testament to the NBA superstar Michael Jordan’s luxurious lifestyle. The palatial estate includes a wide array of amenities tailored specifically to Jordan’s lifestyle as a superstar athlete and cigar aficionado:
- A full-size indoor basketball court with Jordan’s jersey number 23 at both ends
- An expansive 3,000+ bottle wine cellar
- A dedicated cigar room with card tables and ornate ceiling details
- Doors from the original Playboy Mansion in Chicago leading to the game room
- A home theater with tiered seating
- A putting green and tennis court on the grounds
While impressive, some experts believe these quirky personalizations have negatively impacted marketability. Significant modifications would likely be required by new owners seeking to put their own stamp on the property.
Ultimately, the home remains a monument to Jordan’s celebrity despite presenting challenges from a selling perspective.
Comparing market trends: Then and now at 2700 Point Ln, IL 60035
When originally listed in 2012 for $29 million, michael jordan house in Chicago reflected a robust high-end market still feeling the effects of the 2008 housing crisis recovery. Luxury home values were again on an upswing after a few years of stabilization.
In 2012:
- The US luxury market saw strong appreciation in major metros
- Affluent buyers were making big purchases again
- Jordan’s estate was highly personalized but stunning
In 2024:
- Rising interest rates have cooled luxury sales
- Wealthy buyers are more discerning and value-focused, particularly when eyeing NBA superstar Michael Jordan’s seven-acre estate.
- Jordan’s home remains personalized to his tastes
While the estate itself is unchanged over the past decade, broader housing trends have shifted. High mortgage rates and fears of a coming recession have created headwinds in the luxury sector. This further contributes to the challenge of selling one of the most expensive residential listings in Illinois, despite its celebrity pedigree.
Only time will tell if market forces or an enthusiastic Jordan fan enables this one-of-a-kind property to finally change hands.
The Architectural Marvel of Michael Jordan’s Highland Park Residence
Exploring the michael jordan house sprawling square footage and luxury amenities
At over 56,000 square feet situated on a sprawling seven acre lot, suburban michael jordan house in Chicago offers ample space for living on a grand scale. The palatial residence seamlessly combines indoor and outdoor luxury features to create the ultimate playground for the basketball legend.
Indoor highlights include:
- Over 32,000 square feet of living space
- A professional-grade fitness center
- Expansive great room with soaring ceilings
- Nine plush bedroom suites
- A home theater with tiered seating
- Custom humidor and cigar lounge
- Three separate laundry rooms
Outdoor amenities encompass:
- Infinity edge swimming pool, a feature that complements Jordan’s luxurious estate.
- Professional tennis court
- Putting green with Jordan flag sticks
- Pond stocked with fish
- Lush landscaping with mature trees
This extensive array of recreational features makes the estate well-suited for grand-scale entertaining befitting NBA royalty.
The significance of the number 23 throughout Jordan’s Chicago home
Michael Jordan’s affinity for the number 23 is on full display throughout his Chicago mansion. His legendary jersey number is incorporated throughout the home and grounds, offering nods to his hall of fame basketball career at every turn:
- An iron gate flanked by 23 columns greets visitors upon arrival
- His jersey number is prominently painted on the indoor basketball court
- The recent listing price was $14,855,000, digits adding up to 23
- The putting green has 23 Jordan flag sticks
- Light fixtures, custom furnishings, and more repeat variations of the number
This consistent integration of the number 23 further personalizes the estate to Jordan’s identity as one of the most iconic athletes worldwide.
Exclusive insights into the mansion’s custom-designed basketball court
The centerpiece of the michael jordan house is its expansive basketball court, measuring 50 feet by 100 feet, regulation NBA size. The court exemplifies Jordan’s dedication to the sport through and through:
Features include:
- “Jordan” lettered on both baselines
- Soaring 28 foot ceilings
- Jumpman logo at center court
- Names of Jordan’s kids in center circle
- Custom padded flooring for safety/performance
- 30 seat viewing area for spectators
- Locker rooms, bathrooms, and more
The court spared no expense, outfitted with the same attention to detail that Jordan brought to his training regimen during his championship career. This lavish perk will thrill any avid pick-up player or Jordan fan touring the estate.
Comparing Michael Jordan’s Estates: Highland Park vs. Jupiter
A tale of two mansions: Different vibes in Chicago and Jupiter
As Michael Jordan’s fame and fortune grew, so did his residential footprint across the United States. His long-time Chicago mansion offers a stark contrast to his newer, more modern digs in Jupiter, Florida.
Chicago Estate
- Traditional suburban setting
- 56,000 square foot custom build
- Lots of dark wood, red accents
- Celebrates his Bulls legacy
- Basement bowling alley/lounge
- Arcade games, pool tables
Florida Estate
- Ultra-private gated community
- 28,000 square foot modern build
- Bright white and neutral tones
- Showcases contemporary art
- Open floor plan, less rooms
- Focus on wellness amenities
While both homes suit Jordan’s luxury lifestyle, they offer different vibes. The Chicago home celebrates Jordan’s hoops history, while the Florida retreat offers a more refined, wellness-focused escape as he enjoys life after basketball.
How the amenities stack up: From indoor courts to infinity pools
Michael Jordan’s two primary estates include a robust array of recreational amenities, but they vary in size and scale.
Chicago Amenities
- Full basketball court (NBA regulation size)
- 18 hole putting green
- Tennis court
- Pond
- Movie theater
- Cigar lounge
- 3 bedroom guest house, a cozy addition to Michael Jordan’s Chicago estate.
Florida Amenities
- Basketball gym (smaller size)
- Pool house for guests
- Guard house for security
- Expansive infinity pool
- State of the art fitness center
- Golf course access
- Dock/marina access
From swimming to smoking, both homes allow Jordan to pursue his passions. But the Florida home favors outdoor features given its sunny locale, while Chicago focuses more on interior spaces suited to Windy City weather.
The investment perspective: Value appreciation in Highland Park vs. Jupiter
As strategically savvy investors, ultra-high net worth buyers weigh a variety of factors when selecting luxury residential properties, including prestigious estates like Michael Jordan’s Chicago mansion. Comparing the trajectory of Jordan’s two estates is an interesting exercise.
Chicago Investment Considerations
- Prestige of a Michael Jordan estate
- Significantly reduced price
- High annual taxes/upkeep
- Suburban market less glamorous
Florida Investment Considerations
- Prime location in Jupiter market
- Easy access to beach/marina
- Lower annual taxes/upkeep
- Good value appreciation
Jordan’s Chicago home offers unmatched celebrity cache, but comes at a higher overall cost of ownership. Meanwhile, his Florida haven offers all the perks of a luxury resort with financials to match. This makes each home a very different value proposition depending on the buyer’s priorities.
Peek Inside: The Luxurious Amenities of michael jordan house in Chicago
An insider’s tour of the cigar room, NBA-grade basketball court, and infinity pool
Very few homes offer amenities comparable to michael jordan house in Chicago. Let’s go behind the scenes for an inside look at some of the most impressive features:
The Cigar Room
This dark, clubby sanctuary caters to Jordan’s love of cigars with:
- Ornate ceiling details and crown molding
- Leather chairs surrounding card tables
- State of the art ventilation system
- Adjacent room showcases his cigar collection, an intimate glimpse inside Michael Jordan’s luxurious living.
- Floor to ceiling wine storage
The Basketball Court
The full court could host an NBA team with:
- Massive Jordan logo at center court
- Locker rooms and bathrooms for players, a nod to Jordan’s signature NBA legacy.
- Theater-style seating for 30 spectators
- Custom flooring and professional rims/nets
- His and hers scoreboards on opposing walls
The Infinity Pool
This outdoor oasis features:
- Heated saltwater pool with ambient lighting
- Grass island in the middle of the water
- Pool house with changing rooms and kitchen
- Sprawling patio space, outdoor bar, and grill
- Connected to guest house through lush gardens
These glimpses only scratch the surface of the estate’s endless amenities made for a superstar.
Why the putting green and tennis court are a golfer’s and tennis player’s dream
Beyond the headline amenities like his basketball court and cigar lounge, Jordan’s estate also indulges his passions for golf and tennis.
The putting green offers golfers:
- 18 hole course with varying challenges/undulation
- Jordan brand flag sticks on every hole
- Adjacent sand trap to practice awkward lies
- Offering views of the grounds and pond
The tennis court serves up:
- Cushioned professional grade surface
- High netting to avoid stray balls
- Stadium lighting for night play
- Pavilion with seating and cooling fans
- Easy access from the guest house
With his trademark attention to detail, Jordan outfitted these sporting spaces to professional standards. The serious golfer or tennis aficionado will find everything needed for an engaging round or match on the estate grounds.
The unique charm of the property’s guest house and private golf course
For all its grand spaces and amenities, one of the most charming elements of Jordan’s estate is his three bedroom guest house. The peaceful quarters offer friends and family:
- Separate kitchen, media room and family room
- Walls of glass overlook the gardens and pool
- Quick access to the tennis court and putting green
- Path leads to the main house’s basketball court
Surrounded by mature trees, guests enjoy privacy in the tucked-away cottage. It forms the cornerstone for gatherings with an easy flow between recreation and relaxation on the grounds.
Adjacent to the guest house lies one of the property’s hidden gems – a private single hole golf course Jordan had built on the grounds. The one hole course allows for:
- Driving range practice with distance markers
- Undulating fairway offering challenge
- Small practice green to tune short game
- Intimate experience without leaving estate
For visiting golfers, the secluded hole lets them work on their swing just steps from the guest house back door – the ultimate backyard amenity.
How to Buy michael jordan house in Chicago: A Step-By-Step Guide
Navigating the real estate process for high-value properties on Zillow and beyond
Michael Jordan house in Chicago holds the record for the highest priced single family home listed on Zillow over the past decade. For buyers ready to embark on a purchase of this magnitude, here is an overview of what to expect:
Connecting with Listing Agents
- Contact Katherine Malkin of Compass or Katherine Roeser of Berkshire Hathaway Home Services
- Discuss property specifics, arrange showings, obtain disclosures inside Michael Jordan’s Chicago mansion.
Touring the Property
- Verify financial qualifications prior to scheduling a visit to Michael Jordan’s Chicago mansion.
- Sign non-disclosure agreement to protect seller’s privacy
- Expect enhanced security checks for access to gated estate
Making an Offer
- Submit written offer with proof of financial backing
- Negotiate price and terms, conduct due diligence
- Use legal/financial advisors to navigate high-value deal
Finalizing the Sale
- Agree on price and terms formally via contract
- Acquire home inspection, appraisal if desired
- Close sale, transfer funds, record deed
- Change gate entrance to new owner’s preference
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What prospective buyers need to know about the estate at 2700 Point Ln, IL 60035
For qualified buyers ready to submit an offer on Michael Jordan’s famed estate, it is prudent to conduct research on the property’s history and surrounding community. Located at 2700 Point Lane in Highland Park, IL, the home offers much to explore.
Key facts regarding the estate include:
- Originally custom built for Jordan in 1995
- Architecturally designed in contemporary style
- Total living area over 32,000 square feet
- Situated on 7 acres offering great privacy, this superstar Michael Jordan’s seven-acre estate is a beacon of luxury.
- Annual property taxes over $100,000
- Prestigious neighborhood with 24/7 guarded gate
Taking the time to drive the grounds, research recent sales of comparable homes, and fully visualize life in the home can help buyers determine an appropriate offer price for this trophy property. Consulting real estate and legal advisors is also wise to ensure all bases are covered before committing to such a substantial purchase.
Insider tips: Making a compelling offer for a celebrity’s mansion
Given its fame as Michael Jordan’s long-time home, this iconic estate demands special consideration from potential buyers. Here are tips for making a compelling offer:
Flaunt your qualifications
Provide ample financial records proving your ability to close a 9-figure sale. Pre-qualification from a reputable lender goes a long way.
Appeal to the seller
Share your vision for respectfully enjoying the property as your family home or entertaining space. Finding common ground can give your bid an edge.
Bid competitively
While still below recent list prices, offer an amount keeping pace with luxury home trends in the area. Terms like flexible closing dates can also sweeten offers.
Move quickly
The seller likely fields regular inquiries from parties of all levels of seriousness. Act decisively by providing requested info rapidly to demonstrate genuine interest.
Lean on pros
Your experienced agent and real estate attorney should quarterback the negotiation process from offer to closing. Let them handle the back-and-forth details.
With fame comes added complexity. But for qualified buyers passionate about owning Jordan’s home, it’s possible to turn the real estate “shot clock” in your favor.
michael jordan house Portfolio: Beyond the Chicago Mansion
From the shores of Lake Michigan to the luxury estates in Jupiter: A comprehensive overview
In addition to his famed Chicago mansion, basketball superstar Michael Jordan’s real estate portfolio contains luxury homes spanning the country. Let’s survey some of his other crown-jewel properties.
Cornelius, North Carolina
This 13,000 square foot lakefront estate offers stunning views with:
- 200 feet of Lake Norman shoreline
- Private boat dock and lift
- Three-story open floorplan
- Long private driveway ensures seclusion
Park City, Utah
Nestled near the slopes, Jordan owns a:
- Seven bedroom ski chalet
- Located in exclusive Promontory community
- Floor-to-ceiling windows overlook peaks
- Elevator accesses all four floors
Jupiter, Florida
Jordan’s primary residence, a 28,000 square foot palace featuring:
- Atrium entryway with floating staircase, echoing the elegance found inside Michael Jordan’s mansion.
- Two guard houses securing the property
- Pool house for guests with outdoor kitchen
- Dock provides ocean access for boating
Charlotte, North Carolina
As owner of the Charlotte Hornets, Jordan maintains ties to the area through a:
- 17,000 square foot estate in Concord
- Located just 30 minutes from Hornets home arena
- Set on a multi-acre wooded lot
- Includes covered patio, fireplace, pool
Clearly Jordan’s luxury real estate holdings live up to his champion reputation. With homes fit for the GOAT from coast to coast, his portfolio rivals his sneaker brand’s iconic status.
The Charlotte connection: Jordan’s links to the Hornets and real estate in the area
Michael Jordan’s affinity for Charlotte comes as no surprise given his ownership of the NBA’s Hornets team. This connection likewise extends to the hot real estate market in the metro area.
Jordan owns a 17,000 square foot mansion located in Concord, NC – just a 30 minute drive from the Hornets home arena. The estate offers an ideal home base when Jordan visits to check in on his team’s operations.
Beyond his own dwelling, Jordan has invested extensively in development projects across Charlotte, improving the city’s landscape. From building top-tier medical facilities to backing affordable housing initiatives and contributing to economic growth, Jordan’s mark on the Queen City runs deep.
So whether cheering courtside as the Hornets take on rivals, or helping build Charlotte into a world-class destination, Jordan and the city share a special bond that harks back to his days with the Chicago Bulls.
Inside look: Properties Michael Jordan also owns and what makes them unique
Beyond his famed Chicago and Florida estates, Michael Jordan’s ownership of two grand mountain properties reveals his affinity for elevation both on and off the court.
Jordan owns lavish homes in exclusive ski communities in both Park City, Utah and Aspen, Colorado. Both homes feature soaring great rooms with floor to ceiling windows perfect for taking in majestic mountain views.
Park City Retreat
- Seven bedroom lodge-style residence
- Located in private Promontory enclave
- Close to Deer Valley Resort and Main Street
- Rustic finishes like reclaimed wood paneling
- Spa bathrooms with steam showers
Aspen Chalet
- Five bedroom home in gated community
- Heated floors and driveway melt snow
- Game room plus movie theater
- Massive deck overlooks ski slopes
- Jordan brand logo prominently displayed
These snowy sanctuaries let Jordan pursue his passion for the outdoors and affinity for altitude in style – the peak accessories to his growing real estate empire.
