Former Chicago Bulls Legends Have Difficulty Selling Their Homes
It is no surprise that NBA players make insane salaries. According to Bulls Nation, the minimum salary for a brand new NBA star will be $525,093. Seasoned players will make incredible amounts of money as well. Dwyane Wade made $23,200,000 for the 2016-2017 season. That is certainly enough to splurge on luxury homes and mansions for their families and friends to enjoy with them. Sometimes, these houses can be difficult to sell in the normal housing market because many of these players have customized the home to their exact specifications. Many of these former NBA players’ homes stay on the market for months or years and are difficult to sell quickly. Here are some details about some of the Chicago Bull’s stars’ homes for sale currently.
Luol Deng’s Mansion in Northbrook
Luol Deng’s mansion was on the market for almost a full year. The mansion is 7,000 square feet, has seven bedrooms, eight bathrooms, and is located in Northbrook. The NBA star originally paid $2,400,000 for the home in 2009. He first put it on the market for $2,800,000. Since the NBA star signed with the Lakers, he was more determined than ever to find a buyer for his Chicago home. Deng later dropped the price of the home to $2,195,000 The home finally sold June 14th, 2017 for 1.753MM.
Scottie Pippen’s North Shore Mansion
Scottie Pippen is a Chicago Bull’s legend from the 1990’s. His mansion was put up for sale in Highland Park. The property sits on almost three acres, has an outdoor pool complete with a slide and infinity pool and saunas and steam rooms. It has a two-story living room and a wine cellar. No NBA player’s house would be complete without a basketball court. Pippen’s is customized with a replica of his number 33 jersey. The home was initially listed at $3.1 million dollars. After nearly 3 years on the market, the current price is $1.89 million.
Michael Jordan’s Highland Park Mansion
Michael Jordan’s mansion has been on the market for four years. When the home was originally listed, Jordan was asking $29 million. Just last year, the price was dropped to $15 million. At that time, his agent tried to sweeten the deal by telling Maxim magazine that the owner of the new home would also get all 29 editions of signature Air Jordans in their size, in addition to the beautiful new mansion. The house has nine bedrooms, 15 bathrooms, a putting green and card room. The fitness amenities include a full gym, tennis courts and of course a basketball court. The property is 56,000 square feet and is currently being listed at $14,855,000. All of the digits in the current listing price add up to the number 23.
So why do NBA stars have such difficulty selling their homes? There have been many theories, but it is likely a combination of many different factors. Amy Hoak of Marketwatch, suggests it is likely because many of them have the ability to hold more than one mortgage, meaning they do not have to sell their current home before moving to a new one. She also suggests it could be due to privacy concerns. It’s also possible that many celebrities can afford to have their own homes built and customized to their liking. Celebrities aren’t the only ones who may have a hard time selling their house. Contact us if you need to sell your house fast.
*Updated June 2020. Originally published July 2017.