No sale at auction of Michael Jordan's Chicago-area estate

Mon Dec 16, 2013 10:39pm EST
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By Mary Wisniewski

CHICAGO (Reuters) - The Chicago-area mansion belonging to American basketball star and NBA franchise owner Michael Jordan did not attract a winning bid at an auction on Monday, a spokeswoman said.

The 56,000-square-foot (5,200 square-meter) home on more than seven acres in the northern Chicago suburb of Highland Park has a regulation-size basketball court, a putting green, tennis court, nine bedrooms and 15 full and four half bathrooms.

The estate was scheduled to be auctioned on Monday night live for in-person bidding and by phone, said Lauren Hovey, a spokeswoman for the auctioneer, Concierge Auctions.

But by early evening, a spokeswoman for Jordan announced that the house had failed to sell.

"We are disappointed that the high bid in today's auction of Michael Jordan's residence in Highland Park did not meet the reserve price," said spokeswoman Estee Portnoy. "The market conditions were just not right to drive a fair value."

The Jordan home, known as Legend Point, was previously offered for $29 million, according to New York-based Concierge. It includes a "gentlemen's retreat" with a billiard parlor, library, full wet bar, and the original doors from the Chicago Playboy Mansion.

The basketball great will decide what comes next for the house after the holidays, Portnoy said.

"I have so many amazing, happy memories of my life in the house over the years," Jordan said in a Concierge statement. "It's where my kids grew up. It's where I lived during my championship years.   Continued...