Michael Jordan to Auction Off Chicago-Area Mansion

After unsuccessfully being able to sell his 56,000-square-foot mansion, Michael Jordan has decided to put it on the auction block

After trying unsuccessfully to sell his Highland Park compound, former Chicago Bulls star Michael Jordan is reportedly putting the home on the auction block.

Jordan originally listed the 56,000-square-foot mansion that sits on 7.39 acres of land for $29 million in February 2012.

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.

This past July, Jordan knocked $8 million off his asking price, 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 property in Charlotte, N.C.

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 hold the live auction on Nov. 22. A $250,000 deposit is required to bid.

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