The ex-wife of Chicago Bulls icon Michael Jordan sold a River North house for less than she paid for it 14 years ago.
Juanita Vanoy Jordan, who divorced His Airness in 2006, sold the six-bedroom, 10,200-square-foot home on Superior Street October 5 for $4.5 million. She bought it in 2007 for $4.72 million.
The loss on the property might be greater than those two numbers indicate, as Jordan’s listing agent, Karen Peterson of @properties, told Crain’s earlier this year that in 2018 the homeowner did a round of upgrades to the mansion’s technology package, rooftop terrace and media room. The amount that Jordan spent on those projects is not known, but that cost and any other improvements she made would, obviously, increase her investment in the property past the original purchase price.
When Jordan bought the home in the then-new Kingsbury Estates neighborhood built largely on old surface parking lots, she paid a record price for the area that held for over 13 years. The record was finally broken when a mansion on Huron with two swimming pools sold for $6.8 million in March.
Even so, the sale is part of what may turn out to be another record: the number of upper-end homes sold in the Chicago area in a single year. The tally of $4 million-and-up home sales passed 50 in August, a few months before it typically does, and since then has continued strong. Jordan’s sale brings the total to 65, increasing the likelihood that 2021 will finish with more than the record 73 sales in a calendar year.
The four-story house has Jordan just sold has a classical façade with arches, pillars and etched stone joints. Interior finishes include beamed ceilings in some rooms, wrought iron staircase railings, ebony-toned wood floors and an elevator.
There are two outdoor terraces off of living spaces and a third on the roof that is nearly 1,900 square feet, with a full kitchen and fireplace.
The house came on the market in June, priced at $4.98 million. It went under contract to a buyer September 30, and the sale closed October 5. The short time between contract and closing suggests the buyer paid cash.
When the Jordans divorced in 2006 after 17 years of marriage, Juanita, mother of their three children, received a $168 million settlement. Part of it was a Lake Shore Drive penthouse they purchased in the 1990s for about $3 million. She sold the condo in 2014, seven years after purchasing this River North mansion.
In the divorce, Michael Jordan retained their vast Highland Park mansion, which has not sold after ten years on the market.
Paul Gorney of Exp Realty represented the buyers of the house on Superior, who are not yet identified in public records.