How does one sell a home in Chicago? Clearly, we can’t count on His Airness for advice regarding real estate sales. As one enters the driveway leading to the big white gate, the distinctive number can be seen even from the distance. Anyone can tell by approaching from the ground sees right away that this property belongs to Michael Jordan, the renowned No. 23. And that could be the problem for MJ right there! As someone buying the property, they can plainly feel that this home belongs to His Airness. And, to make it their own, they would need to put in a lot of effort. But that’s only the beginning!
Selling a Home in Chicago – What Are MJ’s Woes
There are a few things that MJ must look to consider before putting his home on the market. These are:
The Property is Not Depersonalized
Jordan had the house — as well as the surrounding acreage — built from the ground up to his specifications. Jordan’s extravagant style extends to small features such as entrances. Even the doors are from Chicago’s original Playboy Mansion. Additionally, for 19 years, MJ lived in the main house. The house is fully furnished, albeit some of the furniture may be a little out of date. In 2015, the agent selling the house at the time stated that the buyer would receive every edition of Air Jordans in his or her size, but that promise did not work out. Jordan was likely having trouble selling the house because of all of the personalized customizations and Jordan was likely having trouble selling the house because of this.
The Right Price
The house has been on the market since 2012, despite how amazing it appears. Jordan attempted to auction the home in 2013, but the $13 million minimum offer was never met. However, there’s no need to be concerned about the house deteriorating while it’s on the market. Jordan hired workers to keep the house looking new, and they are still living there. Jordan continues to pay a substantial amount in property taxes. He has paid approximately $700,000 in property taxes since putting the house on the market in 2012. One issue is that Jordan may believe his celebrity position increases the value of the home, but according to real estate experts, people do not pay more for a home simply because it belongs to someone famous.
Easier to Sell A Home In Chicago With a Desirable Location
The property is also not in an area where affluent VIPs are seeking homes, according to industry leaders. The neighborhood is far more modest than Jordan’s property portrays. Moreover, the majority of properties in this price range in the area are located closer to Lake Michigan, just a few miles east of Jordan’s former home. However, experts argue that buyers at that level in that neighborhood tend to want to be closer to the lake.
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