Michael Jordan House: Price of Chicago Mansion Lowered to $16M

Friday, 03 Jan 2014 06:41 PM

By Robin Farmer

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Michael Jordan’s 56,000-square-foot home in a Chicago suburb has everything he wants — except a buyer.

The former NBA star has reduced his price on the mega mansion again, this time to $16 million, CNN Money reported.

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Built on seven-plus acres in 1995, Jordan put the ultra lavish compound on the market in March of 2012 for $29 million. He cut the price last year to $21 million. Last month the home failed to sell at auction with a minimum bid of $13 million.

The house features nine bedrooms, 15 bathrooms, a cigar room, and a regulation-sized indoor basketball court.

"There's nobody — man, woman or child — who walks on the court who is not stunned by it," said Katherine Malkin, the listing agent, according to CNN. "The lighting, the floor, everything is so beautiful."

Outdoors is equally impressive with a pool with a grass island in it and a door from the Playboy Mansion. It also has a lily pond and a putting green and chipping area for golf. It has garage space to house 14 cars.

Malkin, who has had the listing for about a year, said it has attracted a lot of attention but few interested parties qualify as serious buyers. Would-be buyers must be able to pay cash for the house in full before they can put in offers.

Jordan purchased a new home last year, one closer to the home court of the Charlotte Bobcats, the NBA team of which he is now the majority owner.

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