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22-10-2019 19:43:16

Inside Michael Jordan’s 56,000-square-foot home in Chicago that’s been on the market for 7 years and might be unsellable

Michael Jordan’s enormous house in Chicago is still on the market after seven years. Michael Jordan has tried to sweeten the pot by cutting the price nearly in half and throwing in a complete set of Air Jordans with the purchase of the house. He’s still paying more than $100,000 in annual property taxes. “Any time you have these homes that are just kind of gross over-improvements for the area they do lead to very, very lengthy marketing times,” said Gail Lissner of Integra Realty Resources. The house was originally listed for $29 million and has every bell and whistle you can think of. Some of the “over-improvements” Lissner may be referring to are the pool with a grass island in the middle of it, a door from the Playboy Mansion, a table based on the streets of Baghdad, and MJ-branded golf flags. Below, we take a closer look at the house and why it’s struggling to find a buyer. Most images are from footage provided by Concierge Auctions. Tony Manfred contributed to this post.Michael Jordan’s 56,000-square-foot, 7-acre compound looks massive even from the air.Foto: sourceConcierge AuctionsAnyone 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,” said Bruce Bowers of Bowers Realty Group. “… There’s a lot of work that would have to be done to make it your own.”Foto: sourceZillowSource: Business InsiderThe price on the house has dropped several times and is now going for $14.9 million, or about $265 per square foot — that’s a far cry from the original price of $517 per square foot. The exact price is $14,855,000, and the numbers in that price add up to 23 — Jordan’s basketball jersey number.Foto: sourceConcierge AuctionsThe long drive from the gate and the full-grown trees ensure that the house has complete privacy.Foto: sourceConcierge AuctionsJordan had the house — and the surrounding property — built from scratch to his personal tastes.Foto: sourceConcierge AuctionsThe outdoor space proves to be spectacular. There’s a tennis court …Foto: sourceConcierge Auctions… an infinity pool with a grass island in the middle …Foto: sourceConcierge Auctions… which lies in the center of a large patio …Foto: sourceConcierge Auctions… and down on the lawn there’s a putting green.Foto: sourceConcierge AuctionsThe putting green is complete with Jordan Brand flag sticks.Foto: sourceConcierge AuctionsThere’s also a pond stocked with fish.Foto: sourceConcierge AuctionsWhile the outdoor space is sprawling and undoubtedly impressive …Foto: sourceConcierge Auctions… the inside is equally spectacular. When guests first walk in the front door, they are greeted by this view, which includes a piano in the background.Foto: sourceConcierge AuctionsThe piano room doubles as one of many sitting rooms in the house.Foto: sourceConcierge AuctionsAnd here’s a look at another sitting area dubbed the “great room” — this isn’t the only great room around the house, though.Foto: sourceConcierge AuctionsJordan’s luxurious taste even shows itself in details like doorways. The set of doors seen below are from the original Playboy Mansion in Chicago.Foto: sourceConcierge AuctionsThey lead to a game room with a pool table.Foto: sourceConcierge AuctionsOf course, since this is the former home of Michael Jordan, there is a full-court basketball court. It’s the centerpiece of the house.Foto: sourceConcierge AuctionsThe court has the legend’s name at both ends …Foto: sourceConcierge Auctions… and the Jumpman logo at center court, which includes the names of his children — his daughter’s name is out of view.Foto: sourceConcierge AuctionsWhile guests wait for their turn on the court, they can hang out in this sitting area.Foto: sourceConcierge AuctionsMoving along to the dining room, guests were able to eat at this “Baghdad table.”Foto: sourceConcierge AuctionsThat grid seen on the tabletop is based on the streets of Baghdad.Foto: sourceConcierge AuctionsDetailed eating areas are somewhat of a theme. Here we can see a beautiful skylight positioned perfectly over the kitchen table.Foto: sourceConcierge AuctionsIn one of the dining areas just off the kitchen, there is a large aquarium built into the wall.Foto: sourceConcierge AuctionsThe house has nine bedrooms …Foto: sourceConcierge Auctions… and 19 bathrooms.Foto: sourceConcierge AuctionsThere is also a cigar room, which has been decorated intricately with a detailed ceiling.Foto: sourceConcierge AuctionsEven the railing in the cigar room is ornate.Foto: sourceConcierge AuctionsThe cigar room also has plenty of card tables where we’re guessing Jordan played some high-stakes poker games — he is known for his love of gambling, after all.Foto: sourceZillowThe home also features a full gym.Foto: sourceConcierge AuctionsJordan’s Bulls teammates used to work out there every morning, according to an interview shared by Concierge Auctions.Foto: sourceConcierge AuctionsSource: Concierge AuctionsAnother luxurious part of Jordan’s estate is the expansive wine cellar.Foto: sourceConcierge AuctionsThe library upstairs was said to be MJ’s favorite room. It features a drop-down movie screen.Foto: sourceConcierge AuctionsSource: Concierge AuctionsBetween the house and the patio, there’s another TV room with a 110-inch screen.Foto: sourceConcierge AuctionsThis area used to be an indoor pool. Jordan renovated it after he moved in and added sliding walls to both sides that can make the gathering room either indoor or outdoor depending on the mood and the weather.Foto: sourceConcierge AuctionsThere are plenty of media rooms throughout the house. Even the seemingly random nooks like this one below have TVs.Foto: sourceConcierge AuctionsThe property also boasts a three-bedroom guest house …Foto: sourceConcierge Auctions… which has its own family room and kitchen.Foto: sourceConcierge AuctionsMJ himself lived in the main house for 19 years.Foto: sourceConcierge AuctionsThe house comes fully furnished, although some of the pieces may be a tad dated.Foto: sourceConcierge AuctionsDespite how awesome the house seems, it’s been on the market since 2012. Jordan tried to auction the house in 2013, but the minimum bid of $13 million was never met.Foto: sourceZillowJordan 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.”Foto: sourceConcierge AuctionsSource: Concierge AuctionsMJ’s estate remained unsold despite attempts to get creative, including marketing to wealthy people in basketball-crazed China.Foto: sourceConcierge AuctionsSource: MaximIn 2015, the agent working to sell the house at the time promised that the buyer would also receive every edition of Air Jordans in his or her size — but that didn’t work either.Foto: sourceNicholas Hunt/Getty Images for Tribeca Film FestivalSource: MaximAdam Rosenfeld, of the luxury-real-estate startup Mercer Vine, told Marketwatch in 2016 that Jordan was likely struggling to sell the house because of all of the personalized customizations.Foto: sourceConcierge AuctionsSource: MarketwatchRosenfeld said the house also just isn’t in an area where wealthy celebs are looking for houses. Gail Lissner of Integra Realty Resources called the area “much more modest” than what Jordan’s property suggests.Foto: sourceZillowSource: Marketwatch, Business InsiderThere is no need to worry about the house rotting while remaining unsold, though. The house is still occupied by staff who Jordan employed to keep it looking fresh.Foto: sourceConcierge AuctionsSource: The Real DealJordan is still paying a lot in property taxes. The annual bill is more than $100,000, and he has paid nearly $700,000 in property taxes since he put it on the market in 2012.Foto: sourceZillowSource: ZillowOne problem is that Jordan may feel his celebrity status adds value to the house, but, according to Stephen Shapiro of the Westside Agency, people do not pay more for a house just because somebody famous owned it.Foto: sourceChuck Burton/APSource: The Real Deal“But you know who tends to think a property is worth more because a celebrity lived there?” Shapiro said. “The celebrity trying to sell it.”Foto: sourceConcierge AuctionsSource: The Real DealAnother issue is the location. Most of the homes in this price range in this area are closer to Lake Michigan, a few miles east of Jordan’s former house. “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.Foto: sourceConcierge AuctionsSource: The Real DealSince Jordan put his Chicago home on the market, he has since purchased a lakefront house in North Carolina in a golf-course community.Foto: sourceZillowThe house is in Cornelius, about a 30-minute drive from the Charlotte Hornets’ arena — Jordan owns the NBA team. MJ purchased the house for $2.8 million after it was originally listed for $4 million.Foto: sourceZillowSource: Fox SportsJordan also reportedly bought a house on a golf course in Jupiter, Florida, for $4.8 million in 2013 and spent $7.6 million on renovations.Foto: sourceZillowSource: Jeff RealtyHe also owns a condo in downtown Charlotte, in the same building as Cam Newton. The condos reportedly go for between $1.5 and $3.5 million.Foto: sourceYouTubeSource: Charlotte AgendaMost recently, Jordan listed his 10,000-square-foot home in Park City, Utah, for $7.5 million. Experts think it will likely sell faster than the Chicago compound.Foto: sourceIsaac Brekken/GettySource: Forbes, Business InsiderHe continues to wait for a buyer for the Chicago-area home. Of course, MJ is estimated to be worth $1.9 billion, so he can afford to wait for the right owner to come along on his old Chicago digs.Foto: sourceJordan Brand via Getty ImagesThe post Inside Michael Jordan’s 56,000-square-foot home in Chicago that’s been on the market for 7 years and might be unsellable appeared first on Business Insider Nederland.
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