An asset with Michael Jordan’s stamp is finding to be a difficult to find the right value. This case is not recent for the Bulls legend’s Highland Park mansion which had lost $19.6 million drop from it’s original listing. Even though the 6x NBA champion sold it in 2024, the current buyer is facing the same curse.

The initial price was $29 million for the 56,000-square-foot estate. For years, this mansion had no buyers, and by 2015, the price dropped to $14.855. If we add the digits, it is homage to MJ’s No. 23. Yet in 2024, it was finally sold for $9.4 despite being featured during Jordan’s Bulls era in the popular documentary “Last Dance”. The new owner Nebraska native John Cooper who purchased the nine-bedroom, 19-bathroom mansion in December 2024, had no plans to use as personal property.

Cooper renamed it to ‘Champions Point’ allowing co-owners one week of access to MJ’s former mansion every year. The plan was good on paper, but city council blocked his timeshare plan. Despite the Jordan appeal, paying seven figures to spend a week in the Chicago suburbs proved a hard sell.

He initially wanted divide the estate into $1 million luxury timeshares – a plan that was later blocked by the Highland Park City Council. The vote was in direct response to his Champions Point proposal. It was an 18-page pitch where the concept was called ‘unique destination designed to inspire personal transformation’ but it had no mention of this being related to Michael Jordan.

Instead, Champions Point was called a ‘dynamic cultural institution where architecture, sports and philanthropy will converge to deliver an immersive, multi-sensory experience focused entirely on personal transformation.’ But the city council put the final nail in the coffin by amending the municipal zoning code to prohibit timesharing in single-family homes.

Michael Jordan’s home buyer even used other technique but failed

His initial concept involved selling off $1m equity time-share stakes, with each of them granting buyers one week of annual access to the 56,000-square-foot mansion. But the council dealt him a setback, so Cooper went back to the traditional method of renting the property on a short-term. In fact, he even went the Airbnb route.

At the time, Airbnb called it one of its “Luxe” dwellings which only 0.05% of all listings on the site are featured in that special portfolio. Apart from this, it was available to rent even without the Airbnb tag. ‘A once-in-a-lifetime opportunity to rent this gated, world-class estate, meticulously designed for those who live and breathe sports,’ read the rental listing, which first offered monthly stays for $230,000.

But the issue persists as Michael Jordan’s former property had very little interest. So Cooper slashed the rent to $150,000 per month before dropping the price to $89,000. For now, though, time shares and rentals are no longer being offered. The Daily Mail has reached out to Cooper’s real estate investment firm, HAN Capital, for comment. It is unclear how many tenants he attracted, if any.