Mega Mansions That Are Now Worthless

Being rich has a few downsides. One day you are living the American dream life in a mega-mansion with thousands of amenities, and the next day no one wants to buy it from you! Poof. The luxury estate you bought for tons of money is now abandoned and worthless. The waste!

These mega-mansions are forsaken for all kinds of reasons. Let’s look at some of the most extravagant and expensive but abandoned mansions worldwide and the reason for their current worthless state.

Micheal Jackson’s Neverland Ranch in Los Olivos, California

Micheal Jackson’s infamous ranch had a private amusement park and a petting zoo. But when the music sensation was involved in child abuse scandals, the Peter Pan’s Neverland-inspired mega-mansion started losing its spark. Even though the star cleared his name of all charges, Jackson was later drowned in debt and lost most of Neverland’s shares to an investment firm. After he died in 2009, the property was labeled controversial and toxic and has had no buyers since then. See a photo of the mansion here.

Faith Hill And Tim McGraw’s Mansion in Leiper’s Fork, Tennessee

The mansion comes with lush green scenery in a quiet neighborhood and has been on the market for $20 million since 2013 but is yet to seal a deal. The town it is situated in has a mere 650 people with nowhere to visit except a church. See a photo of the mansion here.

Mohamed Hadid’s Unfinished Mansion In Bel-Air, Los Angeles

The property was initially permitted to cover 14,000 square feet and has now spread to 30,000 square feet without the necessary legal documentation. The under-construction mansion sat idle for nearly ten years when Hadid finally lost the legal battle. The property is now on the market for $8.5 million as only a development site. The lawsuits against Hadid and the under-constructed site steered off potential buyers. However, the structure is to be demolished at no extra cost once a deal has been made. See a photo of the mansion here.

Jackling House In Woodside, California

The late Apple CEO bought this mansion in 1985 with magnificent architecture and vintage decor. But the millionaire soon lost interest in the mansion and moved out in 1994. The 15,000-square-foot mansion stood abandoned for nearly eleven years when Job finally got his petition to demolish it. Lack of maintenance started to peel the paint and plaster during the last years of this mansion before the authorities demolished it. See a photo of the mansion here.

Stoned-Walled Estate In New Jersey

The stone-walled mansion has everything, from 19 bathrooms to a ballroom to a 65-feet pool. Sadly, what it doesn’t have is a buyer. The asking price has been lowered from $68 million to $32.9 million, but the mega-mansion has been on the market since 2010. The mansion’s unattractiveness towards buyers is due to the hefty property tax bill. See a photo of the mansion here.

Ann Starrett Mansion In Port Townsend, Washington

Built by famous builder George Starrett, the mansion was a wedding gift to his wife, Ann. It features elaborate wooden work, a free-floating spiral staircase, and multiple interior molds of lions, ferns, and doves, among other architectural marvels. Due to many alleged claims of paranormal activities and ghost sightings since 1986, the mansion has turned into a haunted tourist attraction. See a photo of the mansion here.

Minelli Mansion In Beverly Hills, LA

The Spanish-revival mansion was bought by Oscar-winning director Vincente Minelli. His daughter, Liza Minelli, spent most of her childhood in this mansion and her stepmother Lee. Things went haywire for the property when Liza and Lee fell victim to a dispute over it. The mansion has had no maintenance since 2009 and now has holes in the ceilings, and the paint and floors are crumbling away. See a photo of the mansion here.

Micheal Jordan’s Mansion In Chicago

Jordan initially listed his mansion in Chicago for a whopping $29 million in 2012 but has failed to secure a deal until now. The asking price has dropped to $15 million, plus the buyer gets a rare pair of Jordan shoes. Agents think that the mansion is still unsold because Micheal’s demands are far too unrealistic for the property. See a photo of the mansion here.

Granot Loma In Michigan

The world’s largest Log Cabin was constructed during the late nineteenth and early twentieth centuries and was listed on the National Register of Historic Places in 1991. The lodging is far too remote and ancient to attract prospects who deem this 100-year-old mansion too difficult to maintain. See a photo of the mansion here.

Aiken Manor In Savannah, Georgia

The lavish mansion’s luck was tarnished when the owner Conrad Aiken’s love life crumbled with rumors of his wife’s extravagant life.  It is believed that the unhappy couple’s ghost haunts the mansion. See a photo of the mansion here.

Pillar Estate In New York

The stunning Pillar Estate in New York with Greek architecture has lost almost half of its actual asking price since 2015. The claims of ghost sightings have reduced the manor’s price to half. See a photo of the mansion here.

$10 New Jersey Mansion

This Victorian mansion in Montclaire is priced at a mere $10, which may seem like a joke to most. The mansion sits on an unapproved division; hence the buyer should move it after the purchase. See a photo of the mansion here.

The Watcher’s Mansion In New Jersey

The Watcher’s Mansion has been haunted by a very peculiar case of an anonymous letter-writer. People claim that the writer comes from a family who once owned the house and is not ready to let it go. The latest owners of the mansion sold the house at a loss of $400,000 after being terrorized by the alleged letters for years. See a photo of the mansion here.

Jennifer Lopez’s Mansion In Los Angeles

Jennifer Lopez’s dream house in LA has nine bedrooms, a dance studio, a gym, and a personal recording studio. The manor was first listed for $17 million in 2015, but the price has now dropped to $4 million, which is nothing considering its actual worth. Real estate experts think that the main reason for this mansion’s ill fate is the high property tax in LA. See a photo of the mansion here.

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This article was produced and syndicated on Wealth of Geeks.

Image Credit: Deposit Photos.

 


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