It's been well over a year since there's been any updates regarding Michael Jordan's 56,000-square-foot mansion in Highland Park. However, the home has just reentered the market with another big price cut and its new $1.145 million price chop brings the asking price down to $14.855 million—its lowest asking price yet. It's clear that MJ is getting pretty serious about ditching his suburban compound as the home and the seven acres that surround it is now priced at half of the $29 million asking price it had when it first listed over three years ago. While a million dollar reduction is nothing to sneeze at, it's negligible compared to the whopping $8 million price cut the home took in January 2013.
Jordan, who has been a full-time Florida resident for at least the last few years, has mostly cut his ties with the Chicago area since his double three-peat glory days of the '90s. Last June, Jordan's ex-wife Juanita Vanoy Jordan sold their former three level penthouse on Lake Shore Drive for $3.2 million. Meanwhile, Jordan's massive home in Highland Park has been languishing on the market since 2012. So, will the new price reduction encourage a buyer to finally come forward? It's tough to say. But to put things in perspective, MJ's Air Lair is now cheaper than soft rocker Richard Marx's David Adler-designed mansion.
A video from the failed auction that offers a guided tour of the home:
·2700 Point Lane Highland Park, IL 60035 [Baird & Warner]
·Listing history [Redfin]
·Michael Jordan's Former Triplex Penthouse Sells For $3.2M [Curbed Chicago]
·Ask On Michael Jordan's Estate Inches Closer To Earth [Curbed Chicago]
·His Airness Keeps Mansion Listing Afloat After Failed Auction [Curbed Chicago]
·All previous Michael Jordan coverage [Curbed Chicago]