Up For Auction, Michael Jordan’s Chicago Home

Up For Auction, Michael Jordan’s Chicago Home

Michael-Jordans-homeAs the best player ever in the NBA, Michael Jordan didn’t rely on any gimmicks. But as the owner of a superlative, museum-quality home just north of Chicago, Jordan has realized that it’s going to take a little more than a the typical “For Sale” sign to find the right buyer for his sumptuous residence.

After 20 months of trying to sell his 7.39-acre, 56,000-square-foot home Jordan is trying a different tactic.

On Nov. 22, Jordan’s “Legend Point” property in Highland Park, IL will be open for bids. The sale is being handled by Concierge Auctions, with a $250,000 deposit is required for any interested party to enter the fray.

While an auction is not the normal selling tactic for most homeowners, it makes sense for a residence like this, says Laura Brady, president of Concierge Auctions.

“They [homeowners like Jordan] are used to using auctions to buy and sell things—they understand the power of an auction when buying a unique, one-of-a-kind item,” Brady explained. “This is typical of the type of properties that we represent.”

Sleek, elegant and studded with high-end amenities, Jordan’s 9-bedroom, 15 bathroom house is more like a camera-ready movie set than anything most home buyers would ever dream of. The house features:

  • Two-story circular living room
  • Gentleman’s retreat with original doors from the Playboy Mansion
  • Fully-equipped beauty salon
  • 15 heated garage spaces
  • 500 bottle-plus wine cellar
  • Home theater
  • Card room and cigar room with walk-in humidor
  • State-of-the-art fitness center
  • Putting green
  • Home theater
  • Basketball complex with regulation-size basketball court and locker rooms
  • Infinity pool and pavilion
  • Tennis court
  • Putting green

Highland Park is home to quite a number of high-end homes — median home values are currently at $459,000 and rising — but as Brady mentioned, out of the 280 homes on the market in Highland Park, there’s nothing else that comes close to Jordan’s residence.

Jordan told the Wall Street Journal that the home is owned by a trust, which is how he manages his estate. Jordan bought the land in 1991, custom built the home and was moved in by 1994, during a stretch when he was leading the Chicago Bulls to six NBA titles during his 13 years with the franchise. With his divorce from his first wife, Juanita, and his three adult children now in college or on their own, Jordan has said he no longer needs a large home in Chicago.

Also, Jordan’s main residence has been his native state of North Carolina, where he’s the top executive with the Charlotte Bobcats, and Florida, where he lives with his wife, Yvette Prieto, in a 28,000-square-foot custom-built mansion in the Bears Club golf enclave built by Jack Nicklaus.