The new owner of Michael Jordan’s $10 million mansion in Chicago is offering $1 million time shares that give co-owners access for a week each year.
The buyer of the 56,000-square-foot Highland Park mansion, John Cooper, purchased the property in December for $9.5 million.
Cooper said in one press release that the opportunity for shared ownership is a way to bring sports fans 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 maintaining the property’s original prestige while incorporating modern technology, we will ensure that Champions Point remains a place where extraordinary memories are made for years to come.”
After purchasing the property, Cooper teased his big reveal about the stock, but promised to “honor the legacy of the property.”
“This place is great just the way it is,” he said at the time.
Built in 1995, the property 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’ front gates.
The buyer of the 56,000-square-foot Highland Park mansion, John Cooper, is now offering $1 million in real estate shares, giving shareholders one week of annual access
“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,” said Cooper
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 cool it would be for the person who buys the house,” he said
Co-owners of the home receive access to the property 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 such as private transportation, cooking and events. Co-owners must pay two percent of the annual costs of the estate, which is estimated to cost approximately $25,000 per year for each owner.
Those who want 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.
“I remember seeing the house for sale and thinking how cool it would be for the person who buys the house,” he told the newspaper. Lincoln Journal star.
“My favorite player to watch was always Jordan. He made shots that looked impossible, and he did that on defense too,” he added.
Cooper, a partner at real estate firm HAN Capital, purchased the property for a discounted price of $9.5 million from the $29 million it was originally on the market for.
In retirement, Jordan has lived mostly in his native North Carolina, although he spent 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 2019 Cincoro Tequila launch
The ex-Chicago Bulls player ended his 13-year reign as Hornets owner by transferring 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 would be worth as much as $3 billion, which represented a colossal profit for the 61-year-old considering he spent $275 million to buy the team in 2010.
Jordan remains the minority owner of the Hornets.
And after cashing in on his majority stake in Charlotte, Jordan has been included on the Forbes 400 list of the richest Americans in the US.
His net worth is now believed to have crossed the $3 billion mark, meaning he has become the first athlete ever to be inducted into Forbes’ exclusive club.
Jordan remains the richest athlete in history after combining his iconic career in the NBA with some of the biggest commercial deals ever off the court.