By Daily Mail (U.S.) | Created at 2025-01-10 21:58:34 | Updated at 2025-01-11 01:11:29
3 hours ago
The new owner of Michael Jordan's $10 million Chicago mansion is offering $1 million time shares that would allow co-owners one week of access every year.
The buyer of the Highland Park 56,000 square-foot sprawling 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 and also the sense of connection and community that comes with it,' Cooper said.
'By preserving the property's original prestige while integrating modern technology, we're ensuring that Champions Point continues to be a place where extraordinary memories are made for years to come.'
After buying the property, Cooper teased his big time-share reveal but promised to 'honor the property's legacy'.
'This place is great just 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 out front.
The buyer of the Highland Park 56,000 square-foot sprawling mansion, John Cooper, is now offering $1m property shares which will allow annual one week access to the shareholder
'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,' Cooper said
Cooper, originally from Nebraska, has lived in Chicago for ten years and is a big fan of Jordan's. 'I remember seeing the home for sale and thinking how cool it would be for the person that buys the home,' he said
Co-owners of the home will be given access to the property for the same week every 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 like private transportation, cooking and events. Co-owners have to pay two percent of the estate's annual expenses, which is estimated to cost about $25,000 per year for each owner.
Those looking to bid are encouraged to bid on multiple 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's.
'I remember seeing the home for sale and thinking how cool it would be for the person that buys the home,' he told the Lincoln Journal Star.
'My favorite player to watch was always Jordan. He made shots that seemed impossible, and he got it done on defense too,' he added.
Cooper, a partner at HAN Capital real estate company, bought the property for a slashed price of $9.5 million compared to the $29 million for which it was originally listed.
Jordan has primarily lived in his native North Carolina in retirement, although he was seen spending the summer with his wife, Cuban-American model Yvette Prieto, aboard a yacht in the Mediterranean.
There is also a basketball court, a tennis court, an indoor gym and a circular infinity pool
Yvette Prieto and Michael Jordan attend the Cincoro Tequila launch in 2019
The ex-Chicago Bulls player brought an end to his 13-year reign as Hornets owner by offloading his majority stake in the franchise to a group led by Rick Schnall and Gabe Plotkin back in August of 2023.
The sale to Schnall and Plotkin was said to be worth a staggering $3 billion, marking a colossal profit for the 61-year-old given he forked out $275 million to purchase the team back in 2010.
Jordan remains the Hornets' minority owner.
And after cashing in on his majority stake in Charlotte, Jordan has entered Forbes' 400 list - consisting of the wealthiest Americans within the US.
His net worth is now understood to have surpassed the $3 billion mark, meaning he has become the first ever athlete to be included in Forbes' exclusive club.
