Auction for Michael Jordan’s Highland Park mansion postponed to Dec. 16
BY Art Golab Staff Reporter November 22, 2013 9:42PM
Michael Jordan To Auction Off 56,000 Sq Ft Illinois Mansion
Updated: December 24, 2013 6:19AM
Michael Jordan’s Highland Park mansion was supposed to go the highest bidder Friday night — but the auctioneer called a last minute time-out, postponing the auction until Dec. 16.
New York City-based Concierge Auctions claimed it was not lack of interest but just the opposite that caused the delay.
“The interest has been even stronger than we anticipated,” auction company president Laura Brady said in a statement. “While many bidders are already financially qualified and registered, others requested more time to visit the property and consider the purchase. In the best interest of our client, we agreed to extend the auction date in order to allow them to do so.”
The property was first listed in 2012 for $29 million. The price was slashed to $21 million this summer.
Under the auction terms, the home is to be sold without reserve to the highest bidder, according to a Concierge spokeswoman. However, all bidders are required to post $250,000 deposits.
This was not the first time Concierge has postponed an auction. On Thursday, the auction of a Chattanooga, Tenn. home appraised at $2.3 million was also delayed until December for the same reason as the Jordan auction, according to the Chattanooga Times Free Press.