Michael Jordan had to part ways with $1.1 million out of his $2.1 billion networth because of a real estate mishap

Michael Jordan was a great basketball player, perhaps the greatest ever, and he may be an even better businessman. However, he has had a few mishaps with real estate in the past.

The Bulls legend built up his net worth well after his playing days. Although he was the highest-paid player in the league during his time, he made most of his money after his career was over.

From investing in the right businesses to owning the Charlotte Hornets, and of course, his Jordan brand which makes him about $150 million a year.

Jordan uses his money well too. He has a personal golf course which he spent a good deal of money on, and he’s a huge watch enthusiast, showing off a wide variety of big brands.

He owns several high level assets, including some major property. However, not all of it resulted in resounding successes.

Inside Michael Jordan’s $14.9 million Chicago mansion: https://t.co/nKxrcHB3gO pic.twitter.com/Uu9jRJeiYj

— ForbesLife (@ForbesLife) July 4, 2020

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Michael Jordan lost $1.1 million on his unsold mansion

Jordan spent his money lavishly, including buying a mansion in Highland Park, Illinois. It’s a massive mansion, spanning 32,700 square feet.

However, the mansion might be so decked out that the Bulls legend hasn’t been able to sell it. He listed the mansion for $29 million in 2012, but he still hasn’t sold it.

Jordan has had to drop the price of the mansion every year since he first put it on the market. It’s now listed at $14.85 million. The NBA GOAT has had to pay taxes on the property too.

With the amount he’s had to pay in property taxes, estimates say that Jordan has paid around $1.1 million. In 2020, the tax bill was itself at $130,000.

Why hasn’t the mansion sold yet? Well, its high price tag is definitely one reason. Additionally, Jordan has customized the mansion to suit his needs. Along with that, Jordan’s mansion is located right next to a railroad track.

Michael Jordan’s Bulls-era Illinois mansion still can’t find buyer in 9 years https://t.co/5QsZ4dUwRB pic.twitter.com/iLU1iNJgAw

— New York Post (@nypost) March 22, 2021

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