Michael Jordan Finally Sells Chicago Mansion, But Takes Huge Loss
NBA legend Michael Jordan has finally off-loaded his $14.8 million Chicago mansion after it spent over a decade on the market, but ABC Chicago reported that he took a staggering loss on the sale.
Jordan purchased the sprawling seven-acre property in 1991 before erecting the 56,000-square-foot home four years later. Jordan modernized the home in 2009. It originally went on the market in 2012 with a price tag of $29 million, but soon was discounted by more than 50 percent at $14.8 million. Even with that remarkable drop, the home still sold well below the asking price.
After spending 12 years on the market, Jordan’s seven-acre estate sold for a rather paltry $9.5 million.
It’s a comparable steal, considering that the nine-bedroom mansion sits on the equivalent of a small village and contains an indoor putting green, swimming pool, and regulation-size basketball and tennis courts. It also boasts a whopping 19 bathrooms, a 14 car garage, five fireplaces and cigar salon. The front gate of the manse is also emblazoned with Jordan’s signature “23” jersey number. Guests who toured the estate were required to sign non-disclosure agreements and it was a “contingent” listing, meaning that prospective buyers had to meet specific criteria.
Jordan has an extensive real-estate portfolio, and last year sold a Chicago-area condo for $6.82 million. He also owns a lakeside property and several condos in North Carolina as well as a three-acre estate in Jupiter, FL.