Wanna live like Mike? Have an extra $21 million or so sitting around? You're in luck.

After failing to find a buyer for his 56,000-square-foot suburban Chicago mansion since it hit the market in February 2012, Chicago Bulls legend Michael Jordan is reportedly putting the Highland Park, Ill. home up for auction.

According to Chicago Real Estate Daily, New York-based Concierge Auctions will be auctioning the property in partnership with Baird & Warner on Nov. 22. There is no minimum reserve but a $250,000 deposit will be required to bid.

Jordan wrote in an e-mail to the Wall Street Journal this week that he is auctioning the home because "my kids are grown now and I don't need a large house in Chicago." He added that he sees the auction as the start of a trend for selling similarly high-profile properties.

(Scroll down for a peek inside the mansion.)

"The majority of the house was renovated in 2011," listing agent Katherine Chez Malkin told HuffPost via email.

"56,000 square-feet can seem overwhelming, but it is set up in a family-friendly way so that the house still has an intimate feel. When you first enter the house, the rooms contained in that particular area are all the family living spaces."

The 9-bedroom, 15-bathroom home at 2700 Point Lane was originally listed at $29 million but its asking price was reduced by $8 million in January, reportedly due to a lack of serious buyers.

The home was built in 1995 and sits on seven acres. It boasts indoor/outdoor pool access, a putting green, a tennis court and, duh, a regulation-sized basketball court.

"Since a professional athlete has lived there, he has accommodated a tennis court for a tennis enthusiast, a chipping and putting green for a golf aficionado, a gym for a fitness buff, and obviously one of the world's greatest privately owned basketball courts," notes Malkin.

Jordan now splits his time between homes in Jupiter, Fla., and Charlotte, N.C.

Loading Slideshow...