Michael Jordan's mansion fails to sell at auction, despite discount of more than 50%

[This post has been updated with news that the mansion failed to sell.]

Basketball legend Michael Jordan's longtime mansion outside Chicago, emblazoned with his Chicago Bulls jersey number on the front gates, failed to sell at auction this afternoon, the Associated Press reported.

[Click here or on the photo to go to a slideshow of the estate at http://yhoo.it/MichaelJordanHousePix.]

He's been trying to sell the place for almost two years now. He first put it on the market in February 2012 for $29 million, then knocked $8 million off the price earlier this year. Still there were no takers, so Concierge Auctions was brought in.

A live auction originally scheduled for Nov. 22 with no reserve -- that is, no minimum price -- fell through at the last minute. "The interest has been even stronger than we anticipated," Concierge Auctions President Laura Brady said at the time. A number of qualified bidders had already registered, but others asked for more time to visit the property, she said: "In the best interest of our client, we agreed to extend the auction date in order to allow them to do so."

Today's rescheduled auction had a minimum bid of $13 million, but Jordan spokeswoman Estee Portnoy told AP that no one offered that much.

Jordan and his family lived in the house for almost 20 years. He bought the land in 1991; in 1994, he moved into the house he had built there. At the time, he was still married to Juanita Jordan; they filed for divorce in late 2006 after 17 years of marriage.

"I have so many amazing, happy memories of my life in the house. ... It's where my kids grew up," Jordan said. "It's where I lived during my championship years. ... But my kids are grown now and I don't need a large house [in the Chicago area] anymore."

[Click here or on the photo to go to a slideshow of the estate at http://yhoo.it/MichaelJordanHousePix.]

"Large house" is perhaps an understatement. The estate, called Legend Point, has 56,000 square feet of living space on more than 7 acres of land. Besides its nine bedrooms, 15 full bathrooms and four half-baths, it has, according to the Concierge Auctions listing:

• "A card and cigar room with a custom-built, walk-in humidor."

• A "gentleman's retreat" that you enter through the original Playboy Mansion doors from Chicago. It's equipped with a "billiard parlor" as well as a bar, a library and one of the estate's five fireplaces.

• "A fully equipped in-house beauty salon. (Because that’s what she wants, that’s why.)" The salon has a Sub-Zero under-cabinet refrigerator, the listing notes.

• "A regulation-size, NBA-quality basketball court" -- of course -- with adjacent locker rooms and a circular lounge with a "glass observation overlook."

• A wine cellar that holds more than 500 bottles, plus a "wine tasting room."

• A putting green and tennis court.

• A "pool pavilion" that connects the main residence with the guest wing. A retractable canopy "can transform the enclosed room to an extraordinary indoor/outdoor experience geared for entertaining."

The main residence has a two-story circular living room, two dining rooms (one formal, one casual), a two-story family room, and six bedrooms with en suite bathrooms -- including the master suite, which has his-and-hers closets, a lounge, a steam shower and a Jacuzzi tub, a microwave, a refrigerator, and more.

The guest wing has three bedrooms with en suite bathrooms and built-ins, plus a gourmet kitchen.

[Click here or on the photo to go to a slideshow of the estate at http://yhoo.it/MichaelJordanHousePix.]




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