A potential buyer has emerged to acquire Michael Jordan’s iconic Highland Park mansion more than a decade after the basketball legend put it on the market.
The 32,700-square-foot home, set on 7 acres at 2700 Point Lane in the North Shore suburb, is under contract for just over $14.85 million, or $454 per square foot, Crain’s reported.
Compass agent Katherine Malkin, who has represented the property since it was first listed, confirmed it was finally under contract. However, she did not disclose further details, except to note that the buyer is an “end-user” and not a developer. The contract’s timing — less than two weeks after the estate was featured in the Wall Street Journal — was purely coincidental, she said.
The Highland Park estate, custom-built for Jordan and his then-wife Juanita Vanoy in the early 1990s, sat on the market for 12 years and six months, just shy of the 13 years Jordan played for the Chicago Bulls.
The home includes nine bedrooms, 15 full bathrooms and four half-bathrooms, a gym, a putting green, an indoor basketball court, a cigar room, theater, tennis court, pool and garage space for 14 cars. Tall evergreens line the back of the property, shielding it from view of the nearby Heller Nature Center.
Listed in 2012 at $29 million, or $886 per square foot, the mansion’s price was gradually reduced before settling at $14.85 million. Despite the extensive amenities and connection to basketball’s greatest, the property has failed to attract a potential buyer, with Jordan reportedly paying more than $1 million in property taxes during that time.
If the sale closes near the current asking price, it will likely become one of the top home sales in Chicago this year, just shy of the $15.25 million paid for a Lincoln Park mansion in August. However, it would also mark substantial losses for the sellers, who spent over $50 million to construct the home.
The sale would follow Jordan’s purchase of a South Florida mansion at 103 West Bears Club Drive for $17 million.
— Andrew Terrell
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