No one bought Michael Jordan’s house off auction

jordan-bobcatsThe Chicago-area mansion belonging to American basketball star and NBA franchise owner Michael Jordan did not attract a winning bid at an auction on Monday, said Lauren Hovey, a spokeswoman for the auctioneer, Concierge Auctions.

The 56,000-square-foot (5,200 square-metre) home on more than seven acres in the northern Chicago suburb of Highland Park has a regulation-size basketball court, a putting green, tennis court, nine bedrooms and 15 full and four half bathrooms.

But by early evening, a spokeswoman for Jordan announced that the house had failed to sell.

“We are disappointed that the high bid in today’s auction of Michael Jordan’s residence in Highland Park did not meet the reserve price,” said spokeswoman Estee Portnoy. “The market conditions were just not right to drive a fair value.”

The Jordan home, known as Legend Point, was previously offered for $29 million, according to New York-based Concierge. It includes a “gentlemen’s retreat” with a billiard parlor, library, full wet bar, and the original doors from the Chicago Playboy Mansion.

The house price was initially listed the home at $29 million in February 2012. Later, the price was cut price to $21 million. The home was built in 1994.

The basketball great will decide what comes next for the house after the holidays, Portnoy said.

“I have so many amazing, happy memories of my life in the house over the years,” Jordan said in a Concierge statement. “It’s where my kids grew up. It’s where I lived during my championship years.”

Even with Jordan’s celebrity, it’s difficult to sell a home in that price range, according to realtors in the area.

“Homes over $3 million are still a tough sell. It’s an awful lot of money, Jordan or no Jordan,” said Howard Mandel, a realtor with Coldwell Banker. “Granted it’s got a full regulation NBA court, but I don’t know how many people are looking for that. It could turn into a tear down.”

Jordan said that while he still had business interests in Chicago, where he was a star with the Chicago Bulls basketball team, he didn’t need such a large house there now that his children are grown.

The Hall of Fame player won six National Basketball Association championships with the Chicago Bulls. He won the NBA Most Valuable Player award five times and was named an all-star 14 times.

His on-court success and commercial endorsements have made him one of the most recognizable and prosperous athletes in the United States. He is primary owner of the Charlotte Bobcats.

Jordan played in total 1072 NBA games (1039 started), averaging 30.1 ppg, 6.2 rpg in 38.3 minutes per contest.


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