Michael Jordan suffers major loss as his infamous Chicago mansion is finally sold

For the past 12 years, Michael Jordan has attempted to find a buyer for his iconic Chicago mansion. While it came at a major loss, the NBA icon has finally agreed on a sale.

Back in September, reports surfaced that Jordan had taken his Chicago estate off the market. Upon recent developments, he's agreed to terms with a buyer. On Thursday afternoon, TMZ reported that MJ's mansion sold for what is being considered a bargain at $9.5 million.

Michael Jordan bought the property in 1995, while at his peak with the Chicago Bulls. He spent years revamping the place, adding countless ammediates. In total, Jordan's now-previous home featured nine bedrooms, 19 bathrooms, a full-sized basketball court, a cigar room and an indoor gym. To top it off, the front gates don his iconic No. 23.

$9.5 million is still a hefty price, but it is a massive loss from when the mansion first went up on the market. When Jordan first began looking for a buyer in 2012, the estate was priced at $29 million. Then in 2015, it dropped down to $14.8 million. Following another significant price cut, Jordan was finally able to find someone to purchase it.

Aside from being owned by the NBA icon, the property is also famous for popping up in the music video for Travis Scott's song "Franchise."

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Taking a look inside Michael Jordan's recently sold Chicago mansion

As expected, Michael Jordan put a lot of work into his Chicago mansion during the 20-plus years he owned the property. Videos of the inside show just how lavish the six-time champion's home was.

Along with all the features listed above, the property has countless more glamorous additions like an infinity pool. The property also has an area for Jordan to work on his golf game, one of his biggest hobbies outside of basketball.

When Michael Jordan first brought this now-famous mansion, he was beginning his second dominant run in the NBA. In 1995, he famously returned to the Bulls after retiring to pursue a career in baseball. Jordan would go on to lead Chicago to another three-peat before retiring a second time in 1998.

Following the sale of his Chicago mansion, Jordan still owns numerous properties across the United States. His primary residence is a $16 million mansion in Florida. MJ's portfolio also includes a penthouse in Chicago and an estate in Utah.