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Michael Jordan Sells Highland Park Mansion For $9.5 Million With Katherine Malkin As The Broker

Property Image
SOLD
$9,500,000

Illinois

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Single Family32,683 SF
Sold 12/10/2024
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Property Image
SOLD

Michael Jordan Sells Highland Park Mansion For $9.5 Million With Katherine Malkin As The Broker

2700 Point Drive

See Similar Deals
Single Family32,683 SF
Sold 12/10/2024
the dealplayerscompscontact
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Summary

ILLINOIS
Asset Type:Single Family
Price Per Square Foot:$290
Total Square Footage:32,683 SF
Transaction Type:Sale

The property involved in the transaction is a single-family home located at 2700 Point Drive in Highland Park. It spans 8.4 acres and has a total square footage of 32,683, with a price per square foot of $291. The sale was finalized for $9,500,000.

Summary of transaction details:

  • Property Type: Single Family
  • Transaction Amount: $9,500,000
  • Address: 2700 Point Drive
  • Market: Highland Park
  • Acres: 8.4
  • Square Footage: 32,683
  • Price Per Square Foot: $291
  • Seller: Michael Jordan
  • Broker: Katherine Malkin - Compass

This transaction highlights Michael Jordan's decision to sell his Highland Park mansion after 12½ years of ownership. Katherine Malkin represented the seller in this deal. The mansion was initially listed for $29 million in 2012 and had a final asking price of $14.855 million before being sold.

Players

Katherine Malkin
Compass
Katherine Malkin
4 deals$48.9M volume(312) 576-5200
BROKER

Details

SOLD
IMAGE: Michael Jordan & Katherine Malkin DATE: 12/10/2024 ADDRESS: 2700 Point Drive MARKET: Highland Park ASSET TYPE: Single Family ~ ACRES: 8.4 SELLER: Michael Jordan (@Jumpman23) BROKER: Katherine Malkin - Compass (@Compass) SALE PRICE: $9,500,000 SF: 32,683 ~ PPSF: $291 NOTE: Michael Jordan sold his Highland Park mansion after 12½ years for $9.5 million, far below the original $29 million listing in 2012 and the final $14.855 million asking price. The 8.4-acre estate features 15 bathrooms, a basketball gym, and a pool, but was assessed at $4.94 million, highlighting the steep disparity in valuation.

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Net Operating Income (NOI)

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Debt Service Coverage Ratio (DSCR)

0.94x

Cap Rate

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Cash Flow (Annual)-$33,751.50
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