Michael Jordan -- Re-Re-Re-Lists Chicago Mansion ... for $16 Mil

If at first you don't succeed ... try, try again ... and again ... and again -- just like Michael Jordan is desperately doing with his Chicago mansion that no one on earth wants to buy.

Jordan has re-listed the 7 acre estate for $16 million ... after it failed to sell at a recent auction, where the minimum bid was $13 million (yeah, we don't get the strategy either).

Of course, MJ initially tried to sell the house back in 2012 for $29 mil ... but slashed the price to $21 mil when no one bit ... then reduced it to $13 mil for the auction ... then called off the auction when no one placed a bid.