Air Ball: Why Michael Jordan's $14.9M Illinois Estate Remains Unsold After 10 Years On The Market

While Michael Jordan is undoubtedly one of the wealthiest NBA players of all time, his mansion in Highland Park, Illinois, has been on the market for several years without a buyer.

The property was initially listed for $29 million in 2012 and has undergone several price cuts, it's currently listed for $14.9 million. Jordan's  56,000-square-foot estate is part of a seven-acre compound, including a main house with nine bedrooms and 19 bathrooms, a guest house, and a basketball court. In addition, the mansion has a pond stocked with fish. 

Despite its impressive features, the property's high price tag and unique design have made it a difficult sell even after 10 years. In addition, Jordan is still paying more than $100,000 in annual property taxes, reports Insider.  

"Anyone who approaches from the ground can tell right away that this estate belongs to the legendary No. 23, Michael Jordan — and that might be what's keeping it from selling. It's clearly his home," Insider quoted Bruce Bowers of Bowers Realty Group, saying. "There's a lot of work that would have to be done to make it your own."

According to Insider, Jordan once said, "Many of the world's most desirable items are sold at auction, and Concierge Auctions is the hands-down leader when it comes to auctioning one-of-a-kind real estate."

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Jordan's house includes a piano room, a large aquarium built off the kitchen, a cigar room and a sprawling gym. It also has an expansive wine cellar. 

While it's rare for a property to remain on the market for a decade, it's common for high-end, unique homes to take longer to sell. Jordan tried to auction the house in 2013, but the minimum bid of $13 million was never met. 

Regarding the mansion's location, most of the area homes in this price range are closer to Lake Michigan. 

"Buyers at that level in that area tend to want to be closer to the lake," Missy Jerfita of Berkshire Hathaway Homes Services told The Real Deal.

While the property's connection to Jordan and the sport of basketball may interest some buyers, it's likely not the primary factor in a potential sale. 

Despite its current status as an unsold property, the mansion's luxurious amenities and unique features may ultimately attract a buyer who appreciates its value and is willing to pay the asking price.

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Photo: simplistic.designs on Flickr.