December 18, 2015 by Billionaire Addresses
Newly minted billionaire Michael Jordan’s former Highland Park, Illinois home still sits empty waiting a new owner even after almost 4 years on the market. Numerous people in the real estate industry have said the price was out of line with the home’s location nearly 2 miles west of the Lake Michigan shoreline. Most suburban home sales over $10 million have been on the lakefront.
The sprawling home is on a seven-acre site in the subdivision called Architecture Point that Mr. Jordan bought for $2 million in 1991, when he was well on his way to becoming a superstar with the Chicago Bulls.
The home is a 10-minute drive from the Bulls’ Deerfield practice facility, the Sheri Berto Center, which was brand-new when Mr. Jordan and teammates Scottie Pippen and BJ Armstrong all settled in Highland Park.
The main residence was completed in 1995, but some additions were made over the years.
Mr. Jordan and his then-wife, Juanita, raised their three children in the home, and after their 2006 divorce, Mr. Jordan retained the property. In 2010, he built a $12.4 million mansion in Florida.
In February 2012, Mr. Jordan put the Highland Park property up for sale; a news release said it had been renovated extensively in 2009. The home has nine bedrooms, 15 bathrooms and five fireplaces. There’s a full-size basketball gym, a tennis court and a three-bedroom guesthouse. The property is well-known for the big gates out front decorated with the number 23, which Mr. Jordan wore as he led the Bulls to six NBA championships.
The initial asking price of $29 million dropped 27 percent, to $21 million, a year after the home went on the market. In October 2013, Mr. Jordan announced he was putting the home up for auction. The auction date got pushed back, and ultimately there was no sale.
The house went back on the conventional market Dec. 17 2013, this time listed for $16 million, a 24 percent price cut. In all, Mr. Jordan cut his asking price by 55 percent. Now in October 2015 Jordan has relisted the house at $14.85 million.
The 56,000-square-foot home is on more than 7 acres in the Chicago suburb of Highland Park. He and his then-wife, Juanita, bought the land in 1991, and three years later they moved into the mansion they’d built.
Both the living room and the family room of the main house are double-height. There are also two dining rooms; the formal one has a table modeled on a map of Baghdad, and the informal eating area is capped by a large, round skylight. The main house has six bedrooms, all with en suite bathrooms – including the master suite, which has his-and-hers closets, a lounge, a steam shower and a Jacuzzi tub, a microwave, a refrigerator, and more. The guest wing has three bedrooms with en suite bathrooms and built-ins, plus a gourmet kitchen.
Accourding to the 2013 listing the estate also has:
“A card and cigar room with a custom-built, walk-in humidor.”
A “gentleman’s retreat” that you enter through the original Playboy Mansion doors from Chicago. It’s equipped with a “billiard parlor” as well as a bar, a library and one of the estate’s five fireplaces.
“A fully equipped in-house beauty salon. (Because that’s what she wants, that’s why.)” The salon has a Sub-Zero under-cabinet refrigerator, the listing also notes.
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