.

Michael Jordan Home Fails to Draw Buyer

Chicago Bulls and NBA legend’s Highland Park home does not attract anyone willing to pay at least $13 million.

No one was willing to pay the $13 million minimum for Michael Jordan's Highland Park home.
No one was willing to pay the $13 million minimum for Michael Jordan's Highland Park home.

No buyer stepped forth willing to pay the $13 million minimum price today to become the new owner of Michael Jordan’s 56,000 square foot home during bidding conducted by Concierge Auctions, according to a spokesperson for the auction house.

Originally priced at $29 million in February of last year and later reduced to $21 million in January, Jordan elected to auction the property in October. Originally the sale was scheduled Nov. 22 and there was no minimum. It was later rescheduled for today because of strong buyer interest. A $13 million reserve price was established last week.

After an intensive marketing campaign including sophisticated videos and exposure on the NBC Today show, the nine bedroom, 19 bathroom estate with a full size NBA basketball court and a “man cave” befitting a NBA superstar, no one was willing to pay Jordan’s minimum price.

“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,” Jordan spokesperson Estee Portnoy said. “Concierge Auctions gave great exposure to the property and opportunity, but the market conditions were just not right to drive a fair value. We will be evaluating options for the property in the new year."

Get local news in a daily email from Patch. It's like getting a free newspaper. Learn more. Then "like" us on Facebook or follow us on Twitter.

Jon Hall December 17, 2013 at 06:21 AM
More crack reporting. Steve. You were advised of the outcome when this was delayed 3 weeks ago. Why do you miss so many obvious things? You're not a very good or ambitious reporter, and Patch becomes progressively more irrelevant to our community the longer you continue to meet quotas to fill space validly.
Walter White December 17, 2013 at 07:53 AM
Please start writing a Whiner Blog. You're so good at it.

Boards

More »
Got a question? Something on your mind? Talk to your community, directly.
Note Article
Just a short thought to get the word out quickly about anything in your neighborhood.
Share something with your neighbors.What's on your mind?What's on your mind?Make an announcement, speak your mind, or sell somethingPost something