M
ichael Jordan's Highland Park mansion, a 56,000-square-foot estate that had been on the market for nearly 13 years, has finally sold for $9.5 million, significantly below its last asking price of $14.855 million. The property at 2700 Point Lane underwent multiple price cuts over the years, reflecting the challenges ultra-luxury homeowners in the Chicago area face when trying to recoup their investments.

    The sale echoes a trend of high-end homeowners taking significant losses this year, including the $15.25 million sale of an estate in Lincoln Park previously listed at $50 million. The buyer of Jordan's former home remains unknown and was not represented by a real estate agent. Jordan's agent declined to comment on the sale.

    Built in 1995, the 8.4-acre estate boasts 19 bathrooms, a regulation-sized basketball court, and a circular infinity pool. However, its tax bill could double due to its assessed value of $4.94 million. Jordan purchased the property for his then-wife Juanita Vanoy and their children in the early 1990s and put it on the market after their divorce in 2006.

    The sale is the fourth highest-priced home sale of the year in the Chicago area, but not the highest price ever paid for a Highland Park property. Jordan reportedly owns multiple properties across the country, including homes in Florida, North Carolina, and Utah.