Michael Jordan Takes Suburban Chicago Mansion Off the Market

After nearly two years and three price reductions, Michael Jordan's suburban Chicago mansion is off the market.

The listing for the former Bulls star's 56,000-square-foot home expired Wednesday and wasn't renewed, Crain's Chicago Business reports.

The agent who represented the home when it was listed in 2012 told Crain's she doesn't know what Jordan will do with the property and said he decided to "give it a rest."

The estate failed to sell at auction in December after the reserve price of $13 million wasn't met. Jordan spokeswoman Estee Portnoy said at the time market conditions weren't ideal for the sale and options for the property would be evaluated in 2014.

After the house went unsold at auction, Jordan dropped the price to $16 million. That's down from the original asking price of $29 million and the first reduction that put the house's price tag at $21 million.

The property 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 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.”

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