Michael Jordan fans can now be like Mike by renting the house where he used to live: The Chicago-area mansion, listed on Airbnb, runs just over $100,000 for a weeklong stay.

The 7.39-acre estate, now branded Champions Point, boasts nine bedrooms (seven currently with beds), 15 full bathrooms, five half baths, and can accommodate up to 12. Guests can kick back like His Airness and sink three-pointers on the regulation-size basketball court, play golf on a putting green, fish in a private pond, swim in the infinity pool, or head indoors for the movie theater, pool tables, cigar lounge, and more amenities worthy of an NBA All-Star.

Jordan built the house over several years and completed it in 1994 while he was playing for the Chicago Bulls. He listed it in 2012 for $29 million. It then sat, infamously, on the market for 12 years until it was purchased in December for $9.5 million by John Cooper, a real estate investor at Han Capital in Illinois.

So what inspired Cooper to purchase this iconic property? “I have larger plans than having this be a short-term rental; however, they require zoning relief, which could take months or even years, if ever,” he told The Playbook. “So in the meantime, I’m considering various options that are allowed within the current zoning district to produce revenue.”

Highland Park, where Champions Point is located, permits only 45 days of short-term rentals annually, which amounts to six weeklong stays per year. Cooper, who listed the property in late June, says he’s already received several booking requests. Does that make this a winning investment, or is it too early in the game to make the call?

Are celeb Airbnbs a smart investment?

Michael Jordan’s former home is hardly the only short-term rental with celebrity ties. Currently, you can book stays at properties formerly owned by Frank Sinatra, Bing Crosby, and Sonny and Cher. Some stars even rent out homes they currently own, such as Leonardo DiCaprio (in Palm Springs, CA) and Sting (in Italy). Even Gwyneth Paltrow and Ashton Kutcher and Mila Kunis have rented out their guesthouses for limited periods.

But do these rentals rake in profits? It can go either way.

“The ‘fame premium’ is a marketing tool, not a sound basis for an investment, because the novelty fades but the carrying costs don’t,” says Sabine Ghali, managing director at Buttonwood Property Management in California. What really matters are the fundamentals of the property itself, such as its location, rates on comparable rentals, and broad appeal beyond just a niche group of fans.

Sometimes, a celebrity’s customizations, from recording studios to basketball courts, can be a liability. “These features can shrink the pool of interested tenants for a short-term rental, making the property harder, not easier, to monetize consistently,” Ghali adds. These signature features can also make a house harder to sell, which explains why Jordan’s home lingered on the market for over a decade.

Furthermore, “The fame of the previous owner can bring higher security concerns and inflated guest expectations, which can lead to issues with upkeep and guest satisfaction,” points out real estate broker Taylor Lucy of Paramus, NJ. “As an investment, these properties require careful management. The hype surrounding a celebrity’s name can generate buzz, but it’s crucial to ensure the home itself offers real value beyond the name.”

So, time will tell whether enough fans will fork over $100,000+ to walk in Jordan’s hallowed halls. The rest of us will have to make do with a virtual tour by viewing a few pics here.

Share your thoughts! Do you think celebrity Airbnbs are smart or silly?

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The hottest market in the US: Springfield, MA. Nicknamed the “City of Homes” for its Victorian architecture, this metro is defying the nation’s overall real estate slowdown with listings typically selling in just 23 days at a budget-friendly median of $375,000. In fact, all 20 metros in the Realtor.com June rankings are located in the Northeast and Midwest (for the 21st month in a row), proving that the country’s housing slump sits further south and west. Check out the complete list of hottest markets here.

Not-so-sunny news on solar energy: A nationwide study by Virginia Tech found that the construction of utility-scale solar installations had a sizable impact on surrounding real estate. Raw land prices within two miles of these energy hubs jumped 19% due to interest from developers, while residential homes within a three-mile radius saw a 5% drop. Why? These solar factories are considered eyesores, although home values eventually recovered within 10 years.

Nepo-homebuying is up. A Redfin survey found that 23.8% of Gen Zers and millennials used family money to help fund their down payment on a home. For those without wealthy/generous parents, other tactics included working a second job (11.2%) and living with family or friends to save money (9.3%).

Homebuyers are ditching big cities. A Realtor.com survey found that in the second quarter of 2025, 58.9% of online homebuyers in the 100 largest US cities shopped outside where they live—up from 48.1% in 2019. This wanderlust was strongest in San Jose, CA, where 93.7% of residents searched for homes elsewhere. But seven cities gained popularity, including Portland, OR, and San Francisco. If SF making the cut comes as a surprise, keep in mind that real estate there is actually cheaper than in nearby San Jose (a median of $998,500 versus $1,398,944). Check out the full popularity pecking order here.

Help wanted: Manage my mansion. The Wall Street Journal found that as the number of wealthy Americans with a net worth of $5 million has surged from 1.5 million in 2020 to 2.2 million today, so has the demand for mansion managers—an army of property managers, landscapers, decorators, and other staff to keep all that square footage purring smoothly like the Lamborghini that’s no doubt in the garage. We’re not just talking about housekeepers, folks: The title “director of residences,” overseeing a portfolio of properties, can earn $350,000–$600,000 per year.

Is real estate a smart hedge against overpriced stocks? If you’re worried that the recent record-high stock run could come tumbling down, this BiggerPockets article points out how diversifying into real estate can help you sleep at night.

What does it take to make untamed land not only livable, but luxurious? Janice Wilson found out in 2021 when she and her husband purchased 10 acres of coastal forest in Joyce, WA, for $375k. On it, they built Menizei, a retreat that celebrates a trend called “forest cocooning,” where couples can unplug from the stress of modern life and reconnect with each other. Here’s how Janice carved out her own version of paradise in the woods.

What inspired you to build this glampground? “This is my dream campground. My husband and I love dispersed camping [camping outside of designated campgrounds]. But as a chick, I’m not a fan of the squat. Park reservations rarely provide a true immersion in nature, as the campsites are typically within line of sight. And typical glamping outfits feel more like a Civil War reenactment than a nature retreat. Instead of being ensconced in nature, I felt claustrophobic in a sea of white canvas. I’m also not a fan of communal bathrooms—at all. So Menizei is my sweet spot.”

What was the land like when you bought it, and how long did it take to build up? “The land was untouched: no power, no septic, no water. Just towering conifers and a humbling view of the Salish Sea. For site infrastructure, we put in water, electric, and septic. All in, that effort spanned three calendar years, although actual time was closer to two years, and cost about $125k, the most expensive component being the septic system.”

What challenges did you face? “The biggest challenge was the permitting process. Clallam County, where we’re based, was lovely. We experienced none of the bureaucratic horror stories that developers in other parts of the country share. We considered the county to be a true partner in favor of stewardship tourism. I was proactive and sought to be above board from day one. I think that helps the county help you. The only issue has been with our neighbors about classic easement issues involving the scope of the access rights to our property. Although our easement is broad and expansive, a determined neighbor can always find something to argue about. If we had lawyered up earlier in the venture, we might have circumvented the legal challenges thrown our way, now four years in the making. My only regret is not hiring a land use attorney for our Conditional Use Permit hearing. We’d likely have saved north of $100k.”

What’s Menizei like now? “Today, Menizei is a profitable, design-forward glamping destination offering biophilic basecamps with our signature blackout tents, floating bathhouses designed by the award-winning architectural firm GO’C, private saunas; each is completely private, tucked in a coastal forest—all tailored for couples seeking to disconnect from the urban grind and reconnect to nature. And each other. And no squatting. Our guests [rave] about the bidet.”

Has it been a profitable venture? “Leveraging crowdfunding, we launched in 2024 and sold out our first season. Despite operating for fewer than 100 days per year, annual revenue in 2024 was $239k. This year we’re averaging a higher average daily rate around $568, although booking windows are considerably shorter, and we’re on track to exceed $300k this year with a gross margin of 68%. We were recently featured in Condé Nast Traveler.”

What have you learned through this process? “Raw land often comes with murky easements, unclear access rights, or legacy disputes with neighbors. We learned this the hard way. Don’t assume rural means building whatever the hell you want without interference. Engage legal counsel early, especially if buying rural land. What you spend up front on a land use attorney can save tens (or even hundreds) of thousands in future legal headaches.”

Got any advice for others who dream of developing a glampground? “Design for your category, not for volume. The foundation of quiet luxury is seclusion. We invested in the experience rather than the number of units. With only three sites, we created space for guests to fully immerse themselves in nature. Our average daily rate makes up for quantity. And treat your parcel like a canvas, not a product. We didn’t bulldoze or ‘develop.’ Every path, light, and basecamp was placed in deference to what was already there. Guests appreciate when the architecture conforms to nature and not the other way around.”

Hungry for a real estate deal that requires no cash up front or even a lender? Order up a sandwich lease, where you rent a property that you then turn around and rent out for a little (or a lot) more to make a profit.

Sandwich leases are popular among real estate investors who are just starting out or who prefer not to stomach the financial pressure of owning property. “The draw of this arrangement is the low cost of entry. You don’t need to have tons of capital, credit, or credentials to make this happen,” explains Cash House Closers owner Doug Greene, who used sandwich leases early in his career. These arrangements also benefit landlords who don’t want to fill and manage their rentals themselves, since the sandwich leaser takes that hassle off their hands.

The returns can be substantial: In Greene’s first sandwich lease, he paid his landlord $2,800 per month for three years to rent a two-unit building, which he then subleased for shorter periods of three to six months for $4,500 and $1,250 per month. “It was profitable for the three years we did it,” he says. “But, it was just cash flow. We didn’t get any of the property appreciation or tax benefits. This is why we moved away from sandwich leases and opted to own real estate going forward.”

Another downside is that sandwich leases put you in the middle between two parties, which is not always a comfortable place to be if there are any miscommunications or disagreements. So, transparency is key: Never try to pull this off on the down-low, and ensure proper contracts are in place. Here’s where you can learn more about sandwich lease pros and cons.