Rich basketball great spends $50 million to construct a 33,000 square foot pad

Selling Michael Jordan’s ultra-personalized compound has been anything but a slam dunk. The massive home has remained on the market for 12 years and slash its price twice.

According to the Wall Street Journal, Jordan left his stamp on the Chicago area estate: his jersey number hangs on the gate, his name is painted on the basketball court, and flags with his Air Jordan insignia wave. According to Compass, Jordan reduced the asking price of the estate at 2700 Point Lane in Highland Park, Illinois from $29 million in 2012 to $16 million in 2014 and $14.9 million in 2015.

That is a great cry from the sum he paid to have the seven acres built. The 32,700-square-foot estate was built for approximately $50 million, according to listing agent Katherine Malkin of Compass, who spoke with the source. Construction was finished in 1995. It has nine bedrooms, fifteen complete bathrooms, four half bathrooms, a trophy room, a gym, and a regulation basketball cour,

pool, tennis court, putting green, theater, and cigar lounge.

Malkin believes that rather than being a drawback, Jordan’s personal touches are what make the home appealing. The fact that Jordan’s house is not waterfront is the main selling element at this price range.

She told the publication, “Most people in the Chicago area who are spending that kind of money want to live on the lake.” “He decided against living by the lake because they desired seclusion.”

Malkin claims that despite his house being on the market for a while, Jordan has no intention of lowering the price further. The hall of famer has to pay for a housekeeper, property management, and security in addition to paying more than $1 million in property taxes since the estate was first listed.

“Why? Since he can,” Malkin said to the publication. Jordan has a $3.2 billion net worth, according to Forbes.

His main home is in the gated Bear’s Club in Jupiter, a posh golf club created by Jack Nicklaus. The 26,000-square-foot property at 172 Bears Club Drive, where he and his wife Yvette Prieto reside, contains a guest house, a guard tower, a pool, a gym, and a basketball court. Jordan paid $16.5 million for a second Bear’s Club estate in April.

It’s not just Jordan who is losing a lot of money on a property in Chicagoland. A $65 million estate in Lincoln Park sold for $15.3 million last month.