Michael Jordan Puts His Home For Auction

By
Real Estate Appraiser with PahRoo Appraisal & Consultancy

Photo courtesy of Concierge Auctions

Chicago legend, Michael Jordan puts his home up for auction.  His Highland Park home of nearly 20 years is 56,000 square feet and was originally put on the market back in February 2012 for $29 million. 

After failing to sell, MJ decided to put it up for auction with Concierge Auctions.  Katherine Chez Malkin of Baird & Warner, the listing broker, will also be cooperating with Concierge Auctions in the sale.

When asked why he was selling the home, Michael Jordan answered, "my kids are grown now and I don't need a large house in Chicago.  It was time for some warmer weather down at my new home in Florida."

The Charlotte Bobcats owner added that most of his time is now going back and forth between his new home in Jupiter, Florida and Charlotte.

The grounds consist of 7.4 acres, with its own pond, outdoor tennis court, pool, putting green and an outdoor entertainment area.  Jordan also had a full size regulation basketball court built on the property as well, which has its own locker-rooms and entertainment lounge.

The contemporary home has 9 bedrooms, and 19 bathrooms, and according to Ms Malkin, the home will be sold fully furnished.

But why an auction MJ?  He told the Wall Street Journal, "some of the best things in the world are sold at auction, and I've seen that this is the beginning of a trend for selling unique, one-of-a-kind homes."

The auction company has said there is no minimum reserve bid, however, a $250,000 deposit is required in order to reserve a bidding spot and opening bids are being accepted.

 

One might think that although the property is one of kind, it comes with many amenities that are specific to Michael Jordan’s career and lifestyle.  Of course one can never under estimate sentimental value for celebrity memorabilia, but it would almost make more sense that another athlete, specifically a professional basketball player purchase the home. 

 http://www.pahroo.com/Michael+Jordan+Puts+His+Home+For+Auction

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Rainer
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Mike Rankin
ClearPath Mortgage Solutions, Inc. NMLS #1394615 - Albany, NY
Mortgage Consultant

Hey Mike,

I love the blog. I didn't know that about auctions being a good way to sell one of a kind homes. thank you for the fun article.

Oct 21, 2013 07:25 AM #1
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Rainer
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Michael Hobbs

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