New Owner: I’m Turning Jordan’s Illinois Mansion Into A Timeshare

As you probably know, Michael Jordan's stunning estate in Highland Park was recently sold after spending 12 years on the market and going through multiple price reductions.

The new owner, Lincolnshire real estate executive John Cooper, purchased Jordan's former Illinois home for $9.5 million, which was actually about $5 million under the asking price.

Jordan's estate, located at 2700 Point Lane in Highland Park was custom built for Jordan and his family back in the early 90s. Jordan bought the land in 1991 and moved into the home in 1995. The home then underwent a serious renovation in 2009.

You can read the full listing with details and photos by clicking here.

When MJ first decided to sell the 7-acre estate back in 2012, it was listed at the astronomical price of $29,000,000, but with no solid takers showing up with a down payment, Jordan dropped the asking price nearly $15,000,000 down to $14,855,000 in 2015. That price was apparently still too high, since the home ended up going for $9.5 million last month.

After Being Named As The Buyer Of Jordan's Highland Park Home, John Cooper Said That He Didn't Plan On Moving Into The House, And He Indicated He Had Other Plans For The 7.4 Acre Estate

(I thought it would be a great spot for a high-end Spirit Halloween store, but I seem to be alone in thinking that. At least for now)

Well, it turns out that Mr. Cooper's "other plans" are to turn the former Jordan property into a timeshare. No, seriously.

Is this a timeshare that you or I could get in on? Absolutely...assuming we've got a big pile of disposable income that we're willing to part with, because this is one very expensive timeshare.

Patch.com:

Now, Cooper is accepting bids on shares starting at $1 million — plus 2 percent of the total annual expenses of the 7.4-acre estate — for the privilege of spending a week as a guest in his house. The "co-ownership" scheme allows for one week per buyer or family, who are permitted to invite up to 24 guests.

Okay, So You're Willing To Part With A Million Bucks (And Pay 2 Percent Of The Estate's Total Annual Expenses) For A Week At Mike's Former Home--What Do You Get For That?

According to the piece at Patch.com, "events like weddings, family reunions, corporate retreats, sports watch parties, Bar Mitzvahs and more can be held for an additional fee, according to statement from Cooper, who has branded Jordan's 2700 Point Lane mansion as "Champions Point."

If you and 24 friends decide that this is a must-do, here's what you can expect to see when you get there:

• 7 acres of land
• 32,683-square-foot home
• 9 bedrooms
• 15 bathrooms
• 4 half-baths
• 5 fireplaces
• Regulation-sized basketball gymnasium
• Circular infinity pool
• Putting green
• Tennis court
• Cigar room
• Library
• Office Space
• 14-car garage
• Life-sized "23" on the front gate

Want to take a look? Here's what the place looked like 3 years ago: