When you’re expecting twins, it’s understandable that you might want to invest some money in a bigger home—kids need space. For Michael Jordan, 50, and his young pregnant wife, 34-year-old Yvette Prieto, an extra 3,000 square feet should just about do it.
The celebrity couple is expecting twin girls this spring and in preparation for their arrival, the former NBA champ is hoping to build a 3,000-square-foot extension to their newly-constructed home situated on a golf community in Jupiter, Florida—the house is already 37,000 square feet. The addition would connect their main house to the cottage at the back of the three-acre double lot. Jordan had to file a permit in order to start building, but even without the extension, he still owns what’s believed to be the biggest single-family dwelling in all of South Florida.
Believe it or not, this $25.0 million house is nothing compared to the celebrity couple’s 56,000-square-foot estate in Highland Park near Chicago. However, Jordan has been trying to sell the mansion, but has been having an incredibly hard time getting rid of it. The home was first listed for $29.0 million. When that didn’t work, they tried auctioning it for $13.0 million, but it still didn’t sell and it’s now listed for $16.0 million.
Brokers think the reason the celebrity couple is having such a hard time unloading the property is because of the location; homes in that particular area typically go for no more than $5.0 million. It also doesn’t help that Chicago residents aren’t as willing to pay the high premiums for a celebrity home, compared to areas like Beverly Hills or Miami. It might also have to do with the fact that not many people really need an NBA-sized basketball court in their backyard, but to each their own.
Even if Jordan has to take a loss and come down on the price, the celebrity couple will hardly have to worry about money. The retired player is still estimated to be worth a whopping $650.0 million.
What do you think: Is there such a thing as too much when it comes to spending money on a dream home?
Frank, R., “Michael Jordan can’t unload his mansion,” CNBC web site, January 6, 2014; http://goo.gl/tlpnJx.
Lambiet, J., “EXCLUSIVE – Michael Jordan: My Huge Jupiter Home’s Not Big Enough!” Gossip Extra web site, January 7, 2014; http://goo.gl/4Ok6DS.
“Michael Jordan Net Worth,” Celebrity Net Worth web site; http://goo.gl/UB16f, last accessed January 24, 2014.