There’s a new future for Michael Jordan’s former Chicago-area mansion.
After sitting on the market for more than a decade, the basketball icon’s sprawling Highland Park estate is becoming a luxury timeshare in the wake of its sale for a fraction of its original price, according to a news release.
Real estate investor John Cooper snapped up the 32,000-square-foot property, aptly named Champions Point, for $9.5 million in December 2024.
That’s a sharp drop from its eye-watering price of $29 million when it was first listed in 2012. Now, he’s sharing the NBA legend’s former home and selling week-long stays starting at $1 million each . plus a 2% reduction in annual costs, which comes to about $25,000 per co-owner.
“It’s an opportunity to own a piece of history and bring sports enthusiasts together through a unique co-ownership model,” Cooper said in a statement.
The mansion is tucked away on 7.39 acres about an hour north of Chicago. The property boasts nine bedrooms, 19 bathrooms and enough space to host 20 guests comfortably.
But it’s the impressive amenities that steal the show — a regulation-sized basketball court, an infinity pool, a tennis court, a home theater and even a cigar lounge decked out with a humidor and leather poker tables.
Co-owners can pay extra to host lavish events – think: weddings, parties or black-tie charity galas.
Do you want a private chef or luxury transportation? This will also cost an additional fee.
Cooper says he plans to honor the property’s original design by giving it a modern twist.
“Our goal is to create a shared experience where co-owners can enjoy unparalleled amenities and also the sense of connection and community that comes with it,” he said.
“By preserving the property’s original design while integrating modern technology, we are ensuring that Champions Point continues to be a place where incredible memories are made for years to come.”
But owning a piece of MJ’s legacy comes with strings attached.
Buyers can only buy one share per week (although they can bid on multiple weeks) and must sign a non-disclosure agreement.
Owners are free to sell their shares in the future, making this not just a vacation, but a potentially profitable investment.
#Michael #Jordans #Chicago #residence #million #timeshare
Image Source : nypost.com