It seems like Michael Jordan has developed a habit of selling his long-time belongings. Just weeks ago Jordan sold his NBA team the Hornets and now he is making headlines by selling one of the first purchases he made during his early wedded years!
While Michael, often hailed as the GOAT, exhibited his dominance on the basketball court, his first marriage did not sadly withstand the test of time. MJ, however on more than many occasions has proven that his business acumens.
$1 million purchase of Michael Jordan sells for $7 million
Michael Jordan formerly owned a penthouse in Chicago, which just sold for seven times its purchase price. The opulent apartment was most lately sold to an LLC in May. The three units totaling 8,000 square feet in the 40-story condominium skyscraper at 1100 North Lake Shore Drive were purchased for $6.82 million by a company run by Mike Jones, making it the third most expensive house transaction in the Chicago area this year, according to Crain’s.
One of two Compass representatives for the sellers, Jennifer McNeil Dhadwal and Amit Dhadwal was Julie Busby. Jennifer works as an executive for the infrastructure consulting company AECOM, while Amit is an executive at PayPal.
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Michael Jordan's former Chicago penthouse, located on Lake Shore Drive, has been sold for $6.82 million. The triplex apartment, originally purchased by Jordan and his ex-wife in 1991, offers stunning views of Lake Michigan and the city skyline. pic.twitter.com/kjNwmAH8jv— TheAgentMarket (@BBbiasPropertie) July 3, 2023
Despite less foot activity throughout the downtown area than there was before the epidemic, the sale demonstrates that there is still a healthy demand for high-end houses within the city borders. All six of this year’s most expensive house sales in the Chicago region, as well as eight of the top ten, took place in the city.
The only transaction to surpass the one at 1100 North Lake Shore was the $11.2 million sale of Ken Griffin’s five-bedroom, 8,000-square-foot Park Tower condo unit in January. This was followed by the $10.6 million purchase of a Lincoln Park mansion in May.
Jordan bought the penthouse in 1991 for then-wife, Juanita Vanoy Jordan
According to property logs, way back in 1991 for just over $1 million, the triplex condo was bought by ‘His Airness’ and his ex-wife, Juanita Vanoy Jordan. It was situated on Chicago’s famed Lake Shore Drive. In 2006, Juanita Vanoy and ‘Air’ Jordan ended their 17-year wedlock.
Vanoy and the Bulls legend have three kids: Jeffrey, Marcus, and Jasmine. Vanoy has not been seen in the public eye in the years after the highly publicized divorce. Jordan’s ex-wife has maintained a super low profile ever since she cost MJ a whopping $168M. The units on the two levels were merged to create the penthouse.
According to the 2014 listing, the six-bathroom, four-bedroom home has a rooftop balcony and views of Lake of the Puants and the metropolitan skyline. Also, there are four bars, a video room with a built-in humidor, polished porcelain floors, Rosewood walls, unique tile, and millwork throughout the entire space.
The NBA legend is also attempting to sell his more than 30,000 square foot Highland Park, Illinois mansion, which has been on the market for 10 years and includes a basketball court with a Michael Jordan logo and a gated entry with the number 23 from his jersey.
