Michael Jordan’s famous Chicago mansion has sold for $9.5 million after 12 years on the market and for almost $20 million less than the original price.

Credit: Fadeaway World

Michael Jordan has finally sold his mansion at 2700 Point Lane, Highland Park, Chicago after the house spending 12 years for sale while witnessing the price drop from an initially set price of $29 million to $9.5 million, as the house will finally have a new owner.

The sale was reported by NBC Chicago, who spoke to Katherine Malkin of Compass Realty and confirmed that the sale officially closed after it previously went under contract in September.

The house is remarkable but specifically built to honor Jordan, starting for the audacious 23 on the front gates of the house. The Highland Park mansion was built in 1994 and is where Michael raised his three eldest children and lived in for the second Bulls three-peat from 1996 to 1998.

The home features over 56,000 square feet of indoor space and sits on nearly 8.4 acres of land. The estate includes nine bedrooms, 19 bathrooms, five fireplaces, a regulation-sized basketball gymnasium, a 500-bottle wine cellar, a cigar parlor, a tennis court, a circular infinity pool, a movie theatre, and even a putting green.

The property was originally placed on the market in 2012 and had a listing price of $29 million before the price was cut to $14.855 million, with the digits in the figure adding up to 23. He’s owned the land since 1991 but the construction of the custom-made mansion took years before it was ready.

The fact that this mansion was tailor-made for Jordan likely hurt the value of the place as it spent over a decade on the market. While it would be a superfan’s dream to have something so personal to Jordan in their hands, most superfans aren’t willing to splash millions on a mansion which includes features the man built for his specific needs.

One of the major reasons for the price being what it is after all the years on the market is that Jordan likely wanted to offload the mansion instead of paying property taxes for a mansion nobody lives in. Even the listing agent has previously said that many people interested in tours of the home weren’t serious buyers, but more interested in touring the house where Michael Jordan lived.

In addition to its price being halved since 2012, Jordan has also reportedly spent over $1.8 million in property taxes on the home, which he can finally pass on to the new owner who will be happy about securing the 8.4 acres of land to build their own dream home or customize what Jordan built to their own preferences.

At one point, Jordan offered to include a full set of every Air Jordan sneaker ever released, so it’ll be interesting to see if he followed through on that given the price the home ultimately sold for.

This house is culturally known in Chicago and has had a house tour video as a viral part of the internet for years, even leading to a break-in incident in April 2023 which caused minimal damage. Now that it’s off Jordan’s shoulders, at least everyone can remember what it once looked like and how the GOAT created it to suit his needs during the heyday of his career.