Real Estate

Intense Buyer Interest Delays Michael Jordan Home Auction

With a number of qualified buyers ready to bid, more want time to look at the 56,000-square-foot estate.

Originally scheduled for Friday, the auction of Michael Jordan’s 56,000-square-foot home on 7.4 Highland Park acres at 2700 Point Lane has been postponed until Dec. 16 to give additional qualified buyers time to see the house and grounds, according to a story in the Chicago Tribune.

Though the time and place is still being kept a secret, Michael Jordan’s Highland Park estate featuring a full-size basketball court and numerous luxuries will be sold at auction after the former Chicago Bulls Hall of Famer decided to dispose of his local real estate that way.

The property is being offered by Concierge Auctions of New York. A spokesperson said the location of the event is kept private to protect bidders who may not want their identity known. There is no minimum bid but a $250,000 deposit is necessary to participate.

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“While many bidders are already financially qualified and registered, others requested more time to visit the property and consider the purchase,” Concierge President Laura Brady said in the Tribune article. “In the best interest of our client, we agreed to extend the auction date in order to allow them to do so.”

Originally listed for sale at $29 millionthe price was later reduced to $21 million but remained unsold.

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