Michael Jordan Relists Home for $16 Million

With experts calling Michael Jordan’s 56,000 square-foot Highland Park home worth less than the $13 million he failed to get at auction Monday, the former NBA Hall of Famer has relisted the mansion for $16 million last week.

Jordan continues to put faith in Baird & Warner agent Katherine Malkin, giving her the listing at $16 million, according to the Chicago Tribune. She was involved in the public sale with Concierge Auctions as well as working as his agent through the process.

Originally listed for $29 million in February of last year, the price was lowered to $21 million in January and then offered for auction with a $13 million minimum in November.

Now the question becomes what will the nine bedroom, 15 bath estate with a full size NBA basketball court and a “man cave” befitting the basketball legend fetch. Check out a broker’s video tour so you can join the discussion.

Some experts think the property was overpriced for its neighborhood even at $13 million, according to an article in Forbes. “In Highland Park, in that particular spot, there are plenty of homes at $1 million plus,” Jameson Southeby International Realty CEO Chris Feurer said in Forbes. “But they’re not $5 million or $10 million.”

The most expensive home selling in the Chicago are recently went for just over $9 million in Lincoln Park while a Lake Forest mansion sold for a little more than $5 million, according to a story in Chicago Real Estate.

Chicago Real Estate columnist Dennis Rodkin believes the home is vastly overpriced. He calls the asking price “a load of bull.”

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