NBA legend Michael Jordan is hardly hurting for money with a net worth of over $3 billion. But that doesn’t mean that he’s willing to eat a loss on his own property with any ease.
Nevertheless, that’s exactly what he’s done with his Chicago mansion after putting the property on sale all the way back in 2012. Jordan initially put the property on sale for a kingly $29 million but couldn’t find a buyer.
After years of failing to sell the property, Jordan slashed the price of the property by half, setting the new sale price at $14.8 million before a buyer finally emerged. But as it turns out, Jordan couldn’t even get the full price after the discount.
The New York Post reports that the final sale price of Jordan’s mansion was $9.5 million at closing – less than 33-percent of the initial price he put it up for.
Michael Jordan’s Chicago Mansion Sells for $9.5 Million After 12 Years On Market | Click to read more 👇 https://t.co/HsqZSTt9HJ
— TMZ Sports (@TMZ_Sports) December 12, 2024
It certainly didn’t help the sale of the property that it was constructed in the 1990s while Jordan was still with the Bulls and customized to Jordan’s specifications. One of the most notable features is a massive gate with the No. 23 printed on the front in reference to his NBA jersey number.
Naturally, a property of that size and price has no shortage of bedrooms and bathrooms. It includes nine bedrooms, 19 bathrooms, a basketball court (obviously), indoor gym, library, cigar room, tennis court, infinity pool and multi-car garages.
It’s a property that is clearly built by an athlete for an athlete and it doesn’t feel too surprising that he had a hard time finding a buyer.
A far more interesting question right now is who that buyer may be. Is it a Jordan superfan? A real estate mogul hoping to flip it to a Jordan superfan sometime in the future? Someone who hates Jordan and wants to tear down a monument to his success with the Bulls? The possibilities are endless.
But in the end, Jordan likely has to eat about a $20 million loss in value on one of his prized possessions. He can probably afford 10 more houses like it, but no one likes to lose that much money.
Related: Michael Jordan’s Massive Chicago Mansion Finally Has A Buyer