Lake County Gazette

After almost a year on the market, Chicago Bulls Executive Vice President of Basketball Operations John Paxson finally sold his Lake Bluff house for $725,000 -- or a return of little more than 10 percent after owning the home for 28 years.

Paxon and his wife, Carolyn, purchased the 5,200-square-foot home at 125 Boardman Court in 1991 for $650,000, or $1.22 million in today's dollars. 

At the time, Paxon was a guard on the Bulls team and would go on to be instrumental in the team's three-peat championship win of 1993 when he scored a three-pointer in Game 5 of the NBA finals with 3.9 seconds left to play. 

John Paxson | NBA

The home, which was built in 1990, includes five bedrooms, six baths, a chef's kitchen with a 14-foot island, a steam shower and heated floors, in the white-marbled master bath, a heated driveway and a double-decker patio overlooking 1 wooded acre of land. 

According to Zillow.com, the Paxsons listed their home for $1.08 million on Dec. 10, 2018, or $137,222 less than the original purchase price, in today's dollars.

They lowered the price to $999,900 in early May and then to $979,000 at the end of May. They continued to lower the price throughout the summer and by August it was down to $799,000, or 33 percent less than the original asking price.

Since 2000, property taxes on the home added up to $308,841, or 42.6 percent of the sale price, according to the Lake County Assessment and Tax Office and Zillow.