It’s been over a decade of real estate woes for Michael Jordan’s legendary Highland Park mansion. When the NBA icon first put the 56,000-square-foot estate on the market, he had high hopes. He listed it for a whopping $29 million. However, potential buyers showed little interest. By 2015, he slashed the price to $14.855 million – an oddly specific figure, with the digits adding up to his iconic No. 23. Still no takers.

After over a decade on the market, Jordan’s estate finally sold last December. But at a steep discount, fetching just $9.5 million. That’s a staggering $19.5 million drop from its original listing. For a businessman of Jordan’s caliber, known for his calculated investments, such a loss was unexpected. And yet, just as the saga seemed to end, another challenge surfaced

John Cooper, the Nebraska native snatched up the nine-bedroom, 19-bathroom estate for just over half of its most recent asking price. After thirteen years on the market, only a massive price cut made the sale possible. Yet, as it turns out, Cooper’s ownership hasn’t exactly been smooth sailing either.

Now, he’s attempting to turn his purchase into profit, by renting it out for an eye-watering $230,000 a month. Initially, he expressed excitement about preserving the home’s legacy, even hinting at “exciting plans” for its future. But with such a hefty rental price tag, it’s clear he’s already had to rethink his approach.

So, what’s really going on with Jordan’s former home? First, a massive price drop, and now, another owner struggling to make it work. Maybe there’s more than just history lingering in those walls.

New owner’s big plans for MJ’s mansion take an unexpected turn

At first, John Cooper was thrilled to own Michael Jordan’s legendary mansion. “I remember seeing the home for sale and thinking how cool it would be for the person that buys the home,” he told the Journal Star. But he didn’t just want to keep the 56,000-square-foot estate to himself.

In January, he introduced a timeshare opportunity, allowing investors to enjoy Jordan’s personal amenities, like shooting hoops on his court, puffing cigars in his humidor, and swimming in the circular pool.

Then, in a surprising move just weeks later, Cooper decided to rent out the property. He billed it as a “once-in-a-lifetime opportunity to rent a gated, world-class estate, meticulously designed for those who live and breathe sports.” But with a staggering $230,000 monthly rent, it was clear this was a luxury only a select few could afford.

However, things didn’t go as planned. Struggling to find a tenant willing to shell out that much, Cooper slashed the rent to $150,000 per month. Alongside the price drop, he also revealed some modern upgrades. These include new furniture and a fully renovated kitchen with high-end amenities.

Despite the rental listing, the timeshare option is still on the table. According to the Champions Point website, those hoping to experience Michael Jordan’s legendary home without committing to a long-term lease still have a chance to get in.