NBA legend Michael Jordan's palatial property fails to sell

An aerial view of the sprawling property of former Chicago Bulls star Michael Jordan, in Highland Park, in 2002. The Chicago-area mansion belonging to Jordan goes up for auction on Monday, according to a real estate auction house. -- FILE PHOTO:
An aerial view of the sprawling property of former Chicago Bulls star Michael Jordan, in Highland Park, in 2002. The Chicago-area mansion belonging to Jordan goes up for auction on Monday, according to a real estate auction house. -- FILE PHOTO: AP

LOS ANGELES (AFP) - NBA legend Michael Jordan will have to draw up a new game plan for selling his luxurious Chicago mansion after an auction on Monday, Dec 16, 2013, failed to draw a satisfactory price.

"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," Jordan spokesman Estee Portnoy said in a statement issued by Concierge Auctions, the property firm handling the auction.

"Concierge Auctions gave great exposure to the property and opportunity, but the market conditions were just not right to drive a fair value.

"We will be evaluating options for the property in the new year." The sprawling estate in the upmarket suburb of Highland Park had previously been offered with a listing price of US$29 million (S$36.4 million) but failed to sell.

Portnoy did not specify the reserve price for Monday's auction, but various media reports put it at US$13 million.

Dubbed Legend Point, the nine-bedroom home sits on 3ha and features a regulation-size NBA-quality basketball court, a pool pavilion, a tennis court, a putting green and a guest house.

As well as luxury features such as a card and cigar room, fully-equipped beauty salon and wine cellar, the property includes reminders of its famous owner, such as a gate adorned with the number 23 in the same design that marked his Chicago Bulls jersey.

"I have so many amazing, happy memories of my life in the house over the years," Jordan said last month.

"It's where my kids grew up. It's where I lived during my championship years." Jordan, now the owner of the NBA's Charlotte Bobcats, maintains business interests in Chicago, but says the house is too big now that his children are grown.