Michael Jordan’s Highland Park Estate Is Back On the Market, Has Significant Price Drop

Michael Jordan's posh estate is back on the market at half its original asking price.

The legendary basketball player relisted his sprawling estate for $14.9 million, a bit more than half the original asking price, in a bid to finally unload the renowned Legend Point estate.

The NBA superstar has also enlisted new representation to act on his behalf. Mauricio Umansky and Kofi Nartey of The Agency have been tapped to handle the listing, with Katherine Malkin of Baird & Warner assisting.

The property was first placed on the market in March of 2012 for $29 million. It was later marked down to $21 million when the initial price didn't attract any buyers. It was then placed on the auction block but still failed to garner a bid.

Now, the new listing price might just be the magic number that Jordan is looking for. Not only is the new price more competitive, it's also a testament to the His Airness' legacy.

"The price reflects a number that is more significant," Nartey, the director of the sports and entertainment section of The Agency, explains. "If you take a look at those numbers in the price and add them up, they equal 23."

Aside from being synonymous to Jordan, the number also plays a significant part in the property. A big 23 marks the gated entrance to the property and can also be seen around the home.

The 7.39 acre Highland Park property boasts of sprawling grounds and sports facilities like a putting green and tennis court. There's also an indoor basketball court that was customized by Jordan himself, with motorized backboards and the Jumpman logo clearly emblazoned at center court.

The 56,000-square-foot lavish abode has double-height living and family rooms, nine bedrooms, 15 bathrooms, a movie theater, cigar room with a walk-in humidor, wet bar, poker room, and an in-house beauty salon.

There's also a climate-controlled garage that can accommodate up to 15 vehicles.

Jordon lived in Legend Point for almost 20 years since he and his then-wife Juanita bought the property in 1991.

When talking about his decision to sell the grand estate, Jordan alluded to that inevitable stage most parents experience – the empty nest.

"My kids are grown now, and I don't need a large house in Chicago," Jordan explained in an interview with the Wall Street Journal. "It was time for some warmer weather down at my new home in Florida."

[Image by Scott Olson, Getty Images]