Michael Jordan’s $9.5M Mansion Rental Price Slashed by $50K.
The businessman who purchased NBA legend Michael Jordan's famed Highland Park, IL, mansion for a heavily discounted $9.5 million has now made significant changes to his rental strategy. After initially listing the property for an eye-watering $230,000 per month, Nebraska native John Cooper has reduced the price by $50,000, relisting it for $150,000 per month.
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Cooper, who bought the mansion in December 2023 for half of its most recent asking price of $14.89 million, had plans to honor the home's legacy while making exciting updates. Although the mansion had been on the market for 13 years, Cooper managed to acquire it and began unveiling his vision for the estate. The first of those plans included selling off pieces of the property in an auction, with the goal of turning part of the estate into a luxury timeshare. The estate has since been renamed “Champions Point.”
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Soon after purchasing the estate, Cooper put it on the rental market, marketing it as a "once-in-a-lifetime opportunity to rent a gated, world-class estate" and a "sports lover's sanctuary." The home boasts a regulation-sized indoor basketball court, a championship-level putting green, a tennis court, a fitness center, a gaming area, and much more.
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However, after struggling to find a tenant willing to pay $230,000 a month, Cooper lowered the rent to $150,000 per month, showcasing his willingness to make the property more accessible. The mansion has undergone significant renovations since its purchase, with new furniture and a fully upgraded kitchen.
RELATED: Michael Jordan's Impressive Chicago Mansion Sells After 12 Years on the Market.
In a surprising move, Cooper removed the iconic "Jumpman" logo from the center of Jordan’s personal basketball court, a decision that seemingly diverges from his initial promise to preserve Jordan’s legacy. Additionally, the listing does not mention Jordan’s ownership of the estate, instead positioning the home as a retreat for sports fans of all kinds.
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Despite the changes, the listing highlights a multitude of impressive amenities, including a cigar lounge, wine cellar, and a private movie theater, making it clear that Cooper is committed to preserving the grandeur of the property.
Cooper has also offered a unique co-ownership opportunity for those interested in a more exclusive experience. Through this timeshare model, sports enthusiasts, luxury seekers, and businesses can own a piece of the estate for a hefty price. The co-ownership model allows buyers to access the estate for a week each year, with additional amenities available for an extra fee.
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Cooper's plan aims to blend the property’s history with modern luxury, creating a shared experience for co-owners while preserving the original essence of the home. As for the mansion’s future, Cooper’s vision is to ensure that Champions Point remains a place where sports fans and luxury lovers alike can create unforgettable memories.
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Despite the challenges of attracting tenants, Cooper’s innovative approach to renting and co-owning this legendary estate demonstrates his ability to adapt and create new opportunities. His commitment to preserving the property's legacy while offering an exclusive, high-end experience shows that Champions Point will continue to be a symbol of luxury, history, and sports excellence for years to come.
