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MJ's Compound Ditches Stratospheric Pricing For Try at Auction

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The Wall Street Journal broke the news that Michael Jordan is changing tactics on the sale of his 56,000-square-foot Highland Park compound. The Bulls legend, operating from afar (North Carolina, Florida, Utah, take your pick....), will take a chance on a live auction of the property through New York-based Concierge Auctions on November 22. The Journal adds that there is no minimum reserve, but parties will be able to place opening bids before the big day. Listing in early 2012 for $29M, the MJ Estate notched an $8M price chop last winter. That's good bang for your buck only if you're using Donald Trump's penthouse for comparison. And it comes fully furnished! Any able-bodied multi-millionaire would take his odds at auction when faced with a mortgage on a $21M home. The property is unwieldy to most earthlings with its nine bedrooms, 15 full bathrooms, private basketball arena, pond, 15-car garage, and 7.4 acres. But hey, if you've got $250K in lose change—the price of entry at auction—take a crack at it! We'll stick with the city.
·Michael Jordan's Home Heads to Auction [WSJ]
·Ask on Michael Jordan's Estate Inches Closer to Earth [Curbed Chicago]
·His Airness Lists Highland Park Estate for $29 Million [Curbed Chicago]
·Listing: 2700 Point Lane, Highland Park [Baird & Warner]