Real Estate is No Slam Dunk for Michael Jordan

Michael Jordan’s mega-mansion in the upscale Highland Park suburb of Chicago failed to sell at auction and is back on the market for $16 million after suffering numerous multi-million dollar price drops.

Michael Jordan's home outside Chicago, IL is back on the market for $16 million. Listed by     Katherine Malkin of Baird & Warner.

Michael Jordan’s home outside Chicago, IL is back on the market for $16 million. Listed by Katherine Malkin of Baird & Warner.

The home known as “Legend Point” was originally listed for $29 million in February 2012, and then lowered to $21 million nearly a year later. It was pulled off the market in late November to be put up for auction, but according to Reuters it failed to meet its reserve price of $13 million. Jordan is not accepting defeat -  or maybe just a little -  the 56,000 square foot estate is back on the multiple listing service again.

Now, this is no ordinary home. Set on more than seven acres, the secluded compound has nine bedrooms and 15 bathrooms. Some of the more interesting features; a beauty salon, cigar lounge with walk in humidor and a regulation-size professional-quality basketball court. Would you expect anything less from one of the most recognizable athletes in history?

The regulation-size basketball court inside Michael Jordan's home.

The regulation-size basketball court inside Michael Jordan’s home.

Jordan told Concierge Auctions he lived there during his championship years and has fond memories in the home, but wants to downsize now that his children are grown. The five-time NBA Most Valuable Player has three adult children with ex-wife Juanita Venoy. And he’ll still have quite a few large pieces of real estate on his hands once Case de Jordan sells. MJ reportedly owns properties in North Carolina and Park City. We also can’t forget his custom built 28,000 square foot compound in Jupiter, Florida.

Take a closer look at the home and its interesting features on Redfin. Is this where you expected someone like Air Jordan to reside?

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