Michael Jordan sells Chicago mansion after 12 years on the market but NBA legend accepts humiliating price cut

After languishing on the market for more than a decade, Michael Jordan’s 32,000-square-foot mansion in Highland Park, Illinois has finally sold at a dramatically reduced price.

As first reported by Bloomberg, the property closed for $9.5 million after first being listed at $29 million. That marks a 67-percent reduction for the property in Chicago’s northern suburbs abutting Lake Michigan.

Reports of an agreement first surfaced back in September.

Amenities for the mansion include nine bedrooms, 19 bathrooms, a cigar room, a library, an indoor gym, a circular infinity pool, a basketball court, a tennis court, and an iconic front gate with the number 23. 

Jordan has primarily lived in his native North Carolina in retirement, although he was seen spending the summer with his wife, Cuban-American model Yvette Prieto, aboard a yacht in the Mediterranean.

Jordan brought an end to his 13-year reign as Hornets owner by offloading his majority stake in the franchise to a group led by Rick Schnall and Gabe Plotkin back in August of 2023.

The sale to Schnall and Plotkin was said to be worth a staggering $3billion, marking a colossal profit for the 61-year-old given he forked out $275million to purchase the team back in 2010.

Jordan remains the Hornets’ minority owner.

And after cashing in on his majority stake in Charlotte, Jordan has entered Forbes’ 400 list – consisting of the wealthiest Americans with in the US.

His net worth is now understood to have surpassed the $3b mark, meaning he has become the first ever athlete to be included in Forbes’ exclusive club.

Jordan remains the wealthiest athlete in history after combining his iconic career in the NBA with some of the biggest commercial deals ever off the court.

The most famous of those brand partnerships is of course with Nike, with whom he’s partnered on the Jordan brand. 

The former Chicago Bulls superstar’s most recent yearly royalty check with Nike was reportedly worth around $260m. 

Two months ago, Jordan forked out $70million on a luxurious private jet that pays homage to his Nike connection.

Not long after spending $2m on a one-of-a-kind Italian sports car, Jordan splashed even more cash on a stunning new aircraft complete with a custom-made $500,000 paint job.

The six-time NBA champion’s jet is a Gulfstream 650ER, which holds the record for ‘the farthest fastest flight in business aviation history’, according to its website.

He opted for a silver-and-black theme after spending six-figures on his own custom paint job, which resembles a pair of his elephant-print ‘Air Jordan’ sneakers.

Jordan’s iconic Jumpman logo also features on the rear’s exterior in a huge white print to top off the design.

The tail number, N236MJ, incorporates the No 23 jersey he made famous throughout his legendary career as well as his number of championship rings, followed by his initials.

The jet has a maximum speed of 0.925 Mach and also comes with two Rolls-Royce BR725 engines.

On the inside, Jordan’s lavish new plane can accommodate up to 19 passengers and four members of crew.

Every passenger is treated to the kind of luxury MJ – who has a net worth of $3.5bn – enjoys on a regular basis, with giant beige leather recliner seats situated at each window.

The aircraft has a separate space for meal times, along with a fully-stocked bar decked out with LEDs that folds out from the furniture.

Jordan is also able to get his head down when feeling tired on a long journey in a swanky private bedroom.