From Slam Dunk To Deep Discount – Michael Jordan's Mansion Sells After 12 Years But At How Big Of A Loss?

NBA great Michael Jordan has finally sold his sprawling mansion in the Chicago suburbs after over a decade on and off the market.

Originally listed in 2012 for $29 million, the nine-bedroom Highland Park estate recently sold for $9.5 million, according to property records. The 56,000-square-foot compound is on seven acres of land down the road from the Chicago Bulls' old practice facility, the Berto Center in Deerfield.

The buyer's identity has not yet been disclosed in public records and appears to have purchased the property without representation by a real estate agent.

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The iconic home, filled with personalized touches paying tribute to Jordan, may have contributed to its extended time on the market. In 2015, the asking price was reduced to $14.855 million – a nod to Jordan's legendary jersey number 23, as the digits add up to the iconic number.

The former Chicago Bulls star, who hasn't lived there for years, has now officially sold the estate, giving it a new owner after 12 long years.

The mansion, where Jordan lived for 19 years, sold at a steep 67% discount from its original asking price.

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The median sale price of a home in Highland Park was $729,000, up 19.9% since last year, according to Redfin. On average, homes in Highland Park sell after 56 days on the market, compared to 49 days last year.

"Even at its reduced price, Jordan's home sold for more than the multimillion-dollar homes near Lake Michigan, which rarely sell for more than $5 million," Reddit user wjbc posted on the platform. "As the real estate people say, ‘The top three keys to success in real estate are location, location, location.' If your home is much more expensive than the other homes in the neighborhood, it's usually going to be hard to sell, even if you are Michael Jordan."

Listing agent Katherine Malkin of Compass told The Wall Street Journal that Jordan purchased the property in 1991 and invested about $50 million to build the home.

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The estate is filled with tributes to Jordan's legendary basketball career, including the number 23 prominently displayed on the front gate, his iconic Air Jordan logo on the full-size indoor basketball court and flagsticks on the putting green.

An infinity pool on the grounds includes a grass island.

Despite creative efforts to sell the property – such as offering a complete set of Air Jordans with the purchase and marketing the home through Mandarin-language videos targeting Jordan's fans in China – the mansion remained unsold and unoccupied for years.

Jordan now divides his time between North Carolina and Jupiter, Florida.

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