A former Bull has sold his piece of Chicago real estate to a current Bear.
Retired Chicago Bulls guard B.J. Armstrong on Monday turned over his Highland Park estate to new Chicago Bears defensive end Julius Peppers for $1,800,000 million, which is more than a million dollars less than the original asking price but still a profit for the NBA star.
Armstrong purchased the spacious 12-room home, at 1550 Hawthorne Lane in east Highland Park, when it was newly built in 1994 for $1,599,000. He listed it in 2008 for $2,950,000 million, then dropped that asking price to $2,802,500, $2,499,000, $2,374,000 and then $1,999,999; the final closing price still netted B.J. a 12.5% profit on his 16-year investment.
Located about a block away from Lake Michigan, the 5,923-square-foot home has four large bedrooms on the second floor, one on the main level and an extra in the basement, which also includes a recreation and theater room and a full bar. The home boasts more than six bathrooms, a first-floor office and an exercise room.
B.J. Armstrong, 42, played from 1989 to 1995 with the Bulls, who won three straight NBA championships from 1991 to 1993. He went on to play for three other NBA teams before returning to the Bulls for his final season in 1999. He is now a sports agent with Los Angeles-based Wasserman Media group and represents Chicago-native Derrick Rose, the first player to be chosen by the Bulls in the 2008 draft.
Julius Peppers, 30, last month signed a six-year, $91.5 million contract with the Bears that makes him NFL’s highest-paid defensive player ever. He was previously with the Carolina Panthers and owned a house near Charlotte on Lake Norman, so being near the water will suit him well.
Welcome to the area, Julius. We hope you can help bring some more championship titles to Chicago.