Michael Jordan's legendary Chicago estate has taken on a new life under its latest owner. After sitting on the market for over a decade, the sprawling Highland Park mansion finally sold for $9.5 million in December. But instead of keeping it as a private home, the new buyer, John Cooper, is already shaking things up—turning it into a luxury rental at a jaw-dropping $230,000 per month and selling off shares of the property in a unique timeshare model.
A Discounted Sale After 12 Years on the Market
Don't Miss:
- This Jeff Bezos-backed startup will allow you to become a landlord in just 10 minutes, with minimum investments as low as $100.
- Maker of the $60,000 foldable home has 3 factory buildings, 600+ houses built, and big plans to solve housing — you can become an investor for $0.80 per share today.
Jordan originally listed the 56,000-square-foot estate in 2012 for $29 million, but it struggled to attract buyers, despite multiple price cuts and the home's deep ties to the basketball legend. The mansion, known as Legend Point, boasts nine bedrooms, 19 bathrooms, a full-size basketball court, a cigar lounge, and even doors from the original Playboy Mansion. After years of markdowns, Cooper, a real estate investor from Nebraska, purchased the property for $9.5 million—a significant drop from its original asking price.
Turning Legend Point Into A Business
Rather than using the mansion as his primary residence, Cooper quickly set plans in motion to monetize the iconic home. Per Realtor.com, just weeks after closing the deal, he announced that portions of the property would be sold as luxury timeshares under the name “Champions Point.” Co-owners can buy a share for at least $1 million, granting them access to the estate for a designated week each year. Owners can invite up to 24 guests and even host high-end events for an extra fee.
Trending: Many don’t know there are tax benefits when buying a unit as an investment — Here’s how to invest in real estate by mirroring BlackRock's big move
Now, in addition to selling shares, Cooper has listed the entire estate for rent, offering anyone with deep enough pockets the chance to live in Jordan's former home for $230,000 a month. The listing describes it as a “once-in-a-lifetime opportunity” for those who “live and breathe sports.”
What Renters and Co-Owners Get
The mansion's amenities are as grand as its history. Renters and co-owners gain access to a regulation-size basketball court, an infinity pool with an island, a tennis court, a putting green, a state-of-the-art home theater, a wine cellar, a commercial-grade fitness center, and a cigar room with a custom humidor. High-end add-ons, including private chefs, on-site entertainment, and luxury transportation, are also available for an extra cost.
Cooper, a longtime Bulls fan who has lived in Chicago for the past decade, says he wants to preserve the property's legacy while also making it more accessible to sports enthusiasts, celebrities, and businesses looking for a one-of-a-kind luxury experience.
Read Next:
- Deloitte's fastest-growing software company partners with Amazon, Walmart & Target – Last Chance to get 4,000 of its pre-IPO shares for just $0.26/share!
- Arrived Home's Private Credit Fund’s has historically paid an annualized dividend yield of 8.1%*, which provides access to a pool of short-term loans backed by residential real estate with just a $100 minimum.
© 2025 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
