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After unsuccessfully being able to sell his Highland Park compound, former Chicago Bulls star Michael Jordan is reportedly putting it on the auction block. Nesita Kwan reports.
A planned Friday auction for former Chicago Bulls star Michael Jordan's Highland Park mansion was postponed.
According to Crain's, the auction was postponed in order to allow bidders more time to see the property.
The new date is Dec. 16, and according to an auction official, interest has been higher than they anticipated, Crain's reports.
Jordan originally listed the 56,000-square-foot mansion that sits on 7.39 acres of land for $29 million in February 2012, but was unable to sell it.
The home includes nine bedrooms, 19 bathrooms and an NBA-regulation basketball court, not to mention a weight room, a three-bedroom guesthouse, pool, outdoor tennis court and three climate-controlled multi-car garages. Jordan bought the land in 1991 and moved into the home in 1994.
Jordan knocked $8 million off his asking price in July, a 28 percent drop, but still couldn’t get the home to sell.
“My kids are grown now and I don't need a large house in Chicago,” Jordan told The Wall Street Journal via an email. “It was time for some warmer weather down at my new home in Florida.”
He now owns a $12.4 million home in Jupiter, Fla., as well as $3.12 million condominium properties in Charlotte, NC.
Jordan decided to auction off the Illinois property, because "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 Wall Street Journal reports New York-based Concierge Auctions will host the live auction. A $250,000 deposit is required to bid.