The new owner of Michael Jordan's $10 million Chicago mansion is offering a $1 million timeshare that would allow co-owners one week of access each year.
The buyer of the sprawling 56,000-square-foot Highland Park mansion, John Cooper, purchased the property for $9.5 million in December.
Cooper said in a Press release that the shared ownership opportunity is a way to bring sports enthusiasts together and own a piece of history.
“Our goal is to create a shared experience where co-owners can enjoy unparalleled amenities as well as the sense of connection and community that comes with it,” Cooper said.
“By preserving the property's original prestige and integrating modern technology, we ensure that Champions Point remains a place where extraordinary memories will be made for years to come.”
After purchasing the property, Cooper teased his big timeshare reveal but promised to “honor the legacy of the property.”
“This place is great the way it is,” he said at the time.
The property, built in 1995, features nine bedrooms, 19 bathrooms, a cigar room, a library, an indoor gym, a circular infinity pool, a basketball court, a tennis court and the iconic '23' gates in the forehead.
The buyer of the sprawling 56,000-square-foot Highland Park mansion, John Cooper, is now offering $1 million in ownership shares that will allow one week's annual access to the shareholder.
“Our goal is to create a shared experience where co-owners can enjoy unparalleled amenities as well as the sense of connection and community that comes with it,” Cooper said.
Cooper, originally from Nebraska, has lived in Chicago for ten years and is a big fan of Jordan. “I remember seeing the house for sale and thinking how great it would be for the person who bought it,” he said.
Co-owners of the home will have access to the property during the same week each year, with the ability to bring up to 20 guests, including children, and host events such as weddings, corporate retreats and more.
There are also luxury add-ons such as private transportation, cuisine and events. Co-owners have to pay two percent of the estate's annual expenses, which are estimated to cost about $25,000 a year for each owner.
Those who wish to bid are encouraged to do so for several weeks, which can be resold in the future, the outlet reported.
Cooper, originally from Nebraska, has lived in Chicago for ten years and is a big fan of Jordan.
“I remember seeing the house for sale and thinking how great it would be for the person who bought it,” he told Lincoln Diary Star.
'My favorite player was always Jordan. “He made shots that seemed impossible and he also did it on defense,” he added.
Cooper, a partner at real estate firm HAN Capital, purchased the property for a reduced price of $9.5 million compared to the $29 million it was originally listed for.
Jordan has lived mostly retired in his native North Carolina, although he was spotted spending the summer with his wife, Cuban-American model Yvette Prieto, aboard a yacht in the Mediterranean.
There is also a basketball court, tennis court, indoor gym, and circular infinity pool.
Yvette Prieto and Michael Jordan attend the launch of Cincoro Tequila in 2019
The former Chicago Bulls player ended his 13-year reign as owner of the Hornets by selling his majority stake in the franchise to a group led by Rick Schnall and Gabe Plotkin in August 2023.
The sale to Schnall and Plotkin was said to be worth a staggering $3 billion, a colossal profit for the 61-year-old given he shelled out $275 million to buy the team in 2010.
Jordan remains the minority owner of the Hornets.
And after cashing in on his controlling stake in Charlotte, Jordan has made the Forbes 400 list, made up of the richest Americans in the United States.
His net worth is now understood to have surpassed the $3 billion mark, meaning he has become the first athlete to be included in Forbes' exclusive club.
Jordan remains the richest athlete in history after combining his iconic NBA career with some of the biggest off-court business deals in history.