(MENAFN- AFP) NBA legend Michael Jordan will have to draw up a new game plan for selling his luxurious Chicago mansion after an auction 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 spokeswoman Estee Portnoy said in a statement issued on Monday 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 $29 million but failed to sell.
Portnoy did not specify the reserve price for Monday's auction, but various media reports put it at $13 million.
Dubbed Legend Point, the nine-bedroom home sits on 7.4 acres 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.
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.