Would Michael Fit in Manhattan?

Real Estate catches the national attention from time to time, though we haven’t become quite as popular as all the Foodie shows on TV!  The sale of Michael Jordan’s home is capturing a lot of attention – first it was listed in early 2012 for $29 million, then reduced early this year to $21 million, and now it will be up for auction next month.  Can anyone say “32,700 square feet on 8.4 acres??  Fully furnished??”  Going once, twice…!

Such a listing is a real estate agent’s dream, and I am so proud of Michael’s broker, namely my friend Katherine Chez Malkin, shown above, now with Baird and Warner but formerly a colleague of mine at my previous firm.  The home was featured on nationwide TV this morning on the Today show, it doesn’t get much more high-visibility than that.

You might wonder – what would a home like that go for in an even more expensive market, say Manhattan?  Well, it came out recently that Manhattan real estate has had a resurgence, and that some properties are getting as much as $3,000 per square foot.  Manhattan real estate spikes way up and falls way down, and it would be hard to find a lot big enough for Michael’s home in Manhattan (I'm thinking maybe new landfill in the Hudson River!, why not at 34th Street as shown above?) – but simply doing the math it comes to $98.1 million!!

Speaking of Chicago real estate, my Prudential Rubloff management team is seeing great amounts of activity and is very bullish on Chicago.  I’ll second that notion, and I have a pretty noteworthy listing myself, a beautiful Penthouse at 55 East Erie taking up a full half of one floor of the building.  I’ve already had one offer, who can resist – just look at the view out the Kitchen window!  Even the breakfast nook has seating for 14 people.  A camera team from LX TV Open House came through and my client led them on a tour of the home, I’ll post the schedule for the show when I get it.

Thank heavens for the Bears and Bulls and Hawks to help wash away the dual summertime tragedy of watching those Sox and Cubs seasons!

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