You’ve probably seen the photos. That massive, 12,000-square-foot villa sitting right on the edge of the water in Cornelius, North Carolina. For over a decade, the Michael Jordan house Lake Norman was the stuff of local legend. It was the place where the greatest basketball player of all time could retreat from the noise of Charlotte, fire up a cigar, and look out over the seventh hole of The Peninsula Golf Club.
But if you drive by 18227 Capstan Greens Road today, you won’t see that house.
Honestly, it’s gone. In early 2025, Jordan did something that shocked the neighborhood: he leveled the entire thing. He didn’t sell it. He didn’t renovate it. He brought in the excavators and turned a $2.8 million foreclosure steal into a flat piece of dirt.
The $2.8 Million Steal in Cornelius
Back in 2013, Jordan snagged this place for what felt like pocket change for a billionaire. The house was a bank-owned foreclosure. It used to belong to NHRA drag racer Doug Herbert, who had originally listed it for nearly $4 million. Jordan swooped in and grabbed it for $2.8 million.
It was a beast of a home.
Built in 1993, the original structure spanned 12,310 square feet. It had six bedrooms, eight bathrooms, and a basement that was basically built for an athlete—think personal gym, entertainment center, and plenty of space for "Jumpman" memorabilia. The lot itself is about 1.07 acres, which doesn't sound huge until you realize it’s a peninsula-style lot that juts right into Lake Norman. You had panoramic water views from almost every single window.
Why Demolish a Masterpiece?
People in the Lake Norman area have been scratching their heads about the demolition. Why tear down a perfectly good, albeit older, mansion?
Basically, it comes down to customization.
If you look at Jordan's real estate history, he doesn't do "off the shelf." His massive 56,000-square-foot estate in Highland Park, Illinois, is so customized (with that famous #23 on the gate) that it sat on the market for over a decade because it’s almost impossible to sell. It seems like MJ learned his lesson there. Instead of trying to renovate a 1990s-era home that wasn't quite "him," he decided to start with a blank slate.
Reports from local construction crews and permit filings suggest he’s partnered with Kingswood Homes to build something entirely new on the site. He’s trading the 1993 architecture for something that likely fits his current lifestyle—more modern, more private, and probably with a kitchen that hasn't seen a microwave from the Clinton era.
Life at The Peninsula
Living in the Michael Jordan house Lake Norman location isn't just about the water. It’s about the golf. The property sits right on the seventh hole of The Peninsula Golf Club. If you know anything about Michael, you know he lives for the links.
While he owned the Charlotte Hornets, this was his home base. He also kept a massive penthouse in Uptown Charlotte at the Trust Condos, but Lake Norman was where the "real" living happened. The neighborhood is gated, quiet, and full of the kind of privacy a guy like Jordan needs when he’s not busy being a global icon.
What the Original House Featured:
- A Private Pier: Essential for Lake Norman life.
- Two-Story Great Room: Massive ceilings with floor-to-ceiling windows.
- Basement Gym: Where the work happened away from the cameras.
- Terraced Patio: Featuring a huge pool and spa overlooking the lake.
The Future of 18227 Capstan Greens Road
What’s coming next? While we don’t have the blueprints (Jordan is notoriously private about his floor plans), the new build is expected to be a state-of-the-art masterpiece. Expect high-tech security, a massive emphasis on indoor-outdoor living, and likely a dedicated space for his car collection—the old house had a five-car garage, but knowing MJ, he might go bigger.
The property tax assessments have already started climbing. In 2024, the assessment for the land and the old structure was north of $6 million. Once the new custom build is finished, that number is going to skyrocket.
What You Can Learn from MJ’s Move
If you're looking at property in the Lake Norman area, Jordan’s move tells you a lot about the market. Cornelius and the surrounding "Peninsula" area have become so valuable that the land itself is often worth more than the multi-million dollar homes sitting on it.
Actionable Insights for Lake Norman Real Estate:
- Watch the Foreclosures: Jordan’s $2.8M purchase was a foreclosure. Even in high-end markets like The Peninsula, there are deals if you have the cash ready.
- Value is in the Dirt: On Lake Norman, the "point" lots (those that stick out into the water) are the gold standard. You can always rebuild the house, but you can’t make more shoreline.
- Local Contractors Matter: By hiring local luxury builders like Kingswood, Jordan is ensuring the home fits the specific environmental and aesthetic standards of the Lake Norman community.
If you’re planning a trip to see the area, you can’t get past the gates of Capstan Greens without an invite, but you can see the property from the water. Rent a boat at one of the Cornelius marinas and cruise past the seventh hole. You might just see the next chapter of Michael Jordan’s North Carolina legacy rising from the ground.
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The era of the old "foreclosed" villa is over. The era of the custom Jordan Lake Norman compound is just beginning.