Michael Jordan sells mansion for $14.85 million after 12 years on the market

Omokolade Ajayi -
Key Points
  • Michael Jordan sold his Highland Park mansion for $14.85 million, nearly 50% less than its 2012 listing price of $29 million.
  • The mansion, with a tennis court and basketball court, struggled to sell despite its luxury features and high-profile status.
  • Jordan has paid over $2.5 million in property taxes on the estate since listing, but retains a net worth of over $3 billion.

NBA legend and African-American billionaire Michael Jordan has sold his 56,000-square-foot mansion in Highland Park, Illinois, Chicago, for $14.85 million.

The sale comes 12 years after the sprawling, custom-built estate was first listed for $29 million in 2012.

Michael Jordan’s mansion sells at nearly 50 percent discount

Despite the property’s iconic status and luxury amenities, it languished on the market for over a decade, fetching nearly half of its original asking price.

The seven-acre mansion went viral earlier this year after social media videos showed the abandoned property in disrepair.

Footage showed water damage to the indoor basketball court and a kitchen under renovation, with debris on the floor. Despite some furnishings, the house seemed vacant for years.

Property tax burden for Jordan

Jordan purchased the land in Highland Park in 1991 and completed the mansion in 1995.

The property — a testament to his success and taste for luxury — includes a tennis court, infinity pool, putting green, and a full-size basketball court.

One of its standout features is a customized gate bearing Jordan’s iconic No. 23. However, despite its grandeur, the property struggled to attract buyers, even after several price reductions.

Jordan has been paying over $130,000 annually in property taxes since listing the home, which amounts to more than $2.5 million over the last decade.

Despite the sale resulting in a financial loss from the original listing price, Jordan retains a net worth of over $3 billion, according to Forbes.

Jordan's luxury real estate holdings

Michael Jordan's real estate portfolio, like his basketball career, reflects his taste for the extraordinary, placing him among billionaires with luxury properties in top U.S. locations.

In addition to his Highland Park property, Jordan boasts an extensive real estate portfolio, with luxury homes in Utah, North Carolina, and Florida.

His multimillion-dollar properties and business ventures highlight his status as both a sports icon and a savvy businessman.