NBA

Michael Jordan: Is his $21m mansion just too expensive?

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Michael Jordan's incredible mansion on the outskirts of Chicago failed to sell at auction on Tuesday despite the NBA icon dropping the price of the property significantly in the past couple of years.

The Chicago Bulls legend initially listed the 56,000-square-foot house in February of last year for a hefty $29 million, but dropped that price by $8 million after he relocated to Charlotte having been at the Highland Park home since 1994.

Jordan, though, is finding himself unable to shift the gargantuan palace - which has nine bedrooms, 15 full bathrooms, an indoor basketball court and outdoor putting green - and, according to Forbes, this may simply be down to the fact it is too expensive.

The property was made available on ConciergeAuctions.com but no bidder was able to reach the reserve price, which was reported to be $13 million - some $16 million less than the original value placed in 2012.

It is the area in which the building was erected that appears to be the issue for Jordan, with such sizeable fees paid for properties based closer to Chicago or placed on Lake Michigan. Highland Park is over 20 miles from the city.

"In Highland Park, in that particular spot, there are plenty of homes at $1 million plus," Chris Feurer of Sotheby International Reality in Chicago told Erin Carlyle of Forbes. "But they're not $5 million and $10 million."

Meanwhile, it remains unclear when Jordan's property will return to the market, with his representatives claiming they will 'evaluating options' early next year.

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NBA
Michael Jordan

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