Michael Jordan’s massive mansion in Highland Park is under contract. This news comes 12 years and six months after the Chicago Bulls star first listed the home.
In the end, the potential buyer bit for a price just over $14.85 million, Katherine Malkin, of COMPASS, confirmed with Crain’s. Malkin is overseeing the sale and noted that the ultimate sales price will depend on negotiation over the next month or so.
She also said she could not provide details about the buyer beyond the fact that they are not a developer.
Jordan purchased the seven-acre, suburban lot in 1991, following his first NBA championship. The 56,000-square-feet mansion was then custom-built for the Jordan family: Jordan, his then-wife, Juanita Vanoy, and their young children. Completed in 1995, it certainly was custom, from the 23-emblazoned gate to personalized Jordan flags and the Jordan name painted on the basketball court.
The home at 2700 Point Lane was also Bulls-centric, just a 10-minute drive from the team’s former practice Deerfield facility, the Berto Center, which opened in 1992.
Jordan first listed the home in early 2012 for $29 million, which was nearly double the price of any other for-sale home in Chicagoland at the time. In 2013, Jordan confidently re-listed the home with an auction house, saying, “I’ll have a sale with a closing in 30 days.” In 2015, after years of active marketing, the price was updated to $14,855,000. (The digits add up to, you guessed it, 23.)
That’s the price the estate has remained at for roughly nine years. And now, it’s finally under contract. Should the home indeed close near its asking price, it would become the second-most-expensive Chicagoland sale of the year (so far), trailing the famed Lincoln Park mansion that recently went for $15.25 million.