Nobody wanted Michael Jordan’s suburban Chicago mansion for the reserve price of $13 million, but he’s not giving up just yet.
The former Bulls star re-listed his 56,000-square-foot home this week for $16 million, Crain’s Chicago Business reports. That’s down from last year’s original asking price of $29 million and the first reduction that put the house’s price tag at $21 million.
The estate failed to sell at auction on Monday after the reserve wasn’t met. Jordan spokeswoman Estee Portnoy told the Associated Press that market conditions aren’t ideal for the sale and said options for the property will be evaluated next year.
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.
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.”