On the early afternoon of May 26, the news surfaced that the Chicago Bulls star shooting guard Zach LaVine sold his mansion in Lakeview in the Windy City-area. This report came from the Chicago Tribune this week and likely came to the surprise of many.
Although, this doesn’t sound like something that Bulls fans should read into too much. There were no other concrete rumors that came along with there being any movement with the Bulls and LaVien following the sale of this Chicago home.
LaVine reportedly sold the 8,000 square foot mansion in Lakeview over the weekend, specifically on May 21, for $3 million. That is a loss compared to what he bought it for, which is rare to hear about with the real estate market going crazy since the start of the COVID-19 pandemic.
Chicago Bulls guard Zach LaVine on May 21 sold his five-bedroom, 8,000-square-foot mansion in Lakeview for $3 million. https://t.co/yEj86iLVS4
— Chicago Tribune (@chicagotribune) May 25, 2021
Here’s more on what this Chicago Tribune piece had to say on the matter of LaVine selling his Lakeview mansion in the Windy City this week.
"LaVine first placed the mansion on the market in 2019 for just under $3.4 million and cut his asking price to just under $3.2 million in October. It’s not known why LaVine listed the mansion so soon after buying it. Listing agent Nancy Tassone declined to comment on the deal.The neighborhood has proven popular with sports figures. Former Chicago Cubs pitcher Carlos Zambrano owned a six-bedroom, 6,700-square-foot mansion there from 2008 until 2014, while Chicago Blackhawks head coach Jeremy Colliton and his wife paid $1.635 million in 2019 for a two-story, nearly 4,000-square-foot house in that area."
More on Chicago Bulls star Zach LaVine and the sale of his Lakeview mansion
Apparently, this is a deal that LaVine took a loss on. He reportedly purchased the mansion for around $3.5 million in 2018. And then he’s listed the mansion multiple times since he lived there for the past three years.
The five-bedroom mansion that LaVine sold on the market this week is something that sounds like it was years in the making.
LaVine still has one year remaining on his current contract with the Bulls, heading into the 2021-22 season. He is due a base salary of $19.5 million in the last year of his current contract before he’s set to hit unrestricted free agency next offseason.
Moreover, LaVine also nearly got good news this week in the race to win the Most Improved Player award. But that ultimately went to the New York Knicks fellow first-time All-Star and breakthrough power forward Julius Randle.
LaVine and the Bulls finished up the 2020-21 regular season with a record of 31-41 following their May 16 win at home at the United Center over the divisional foe Milwaukee Bucks. This was the fourth straight year in which the Bulls missed the postseason. And LaVine still has yet to make it to the postseason in his career to date.