On the Market

On the Market: B. J. Armstrong’s Highland Park Home

List Price: $2,802,500
The Property: The retired NBA star B. J. Armstrong has owned this six-bedroom house on a secluded street in Highland Park for 14 years, during which time he played for the Bulls and three other teams, worked in the Bulls’ front office, and provided commentary for a TV sports show. He listed the residence for sale late this past summer with an asking price of $2.95 million; in late October he cut the price to $2,802,500.

Armstrong declined a request for an interview, but his real-estate agent, Matt Silver, provided a description of the interior of the house, which sits on a wooded three-quarter-acre lot. “It’s laid out perfectly, with lots of room to congregate but also places where you can get away,” he said. Silver touted the spacious first floor, and noted that the four large second-floor bedrooms each offer views of mature trees and the surrounding landscape. The basement has a theatre room, a bar, and two bedrooms. Over the years, Silver added, Armstrong has updated the original décor and finishes.

Armstrong played point guard for the Bulls (with whom he won three NBA championships)  from 1989 to 1995, and again in the 1999-2000 season. Between those two stints, he played for the Golden State Warriors, the Charlotte Hornets, and the Orlando Magic. After retiring in 2000, he worked for the Bulls in administrative posts until 2005. He has been an analyst for ESPN’s NBA Fast Break, and since  2006 he has been an agent with the Wasserman Media group in Los Angeles, representing Chicago-native Derrick Rose, the first player chosen (by the Bulls) in the NBA’s 2008 draft.

Price Points: Armstrong paid $1,599,000 for this house in 1994, when it was brand new. If he were to receive his full asking price for the place, he would turn a 75 percent profit. As reported in Chicago’s annual house-price chart (in the magazine’s October 2008 issue), homes values in Highland Park have increased on average by 134.32 percent since 1994.

Listing Agent: Matt Silver, Rubloff Residential, 312-368-5977
 

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