After being on the market for more than a year, the Lincoln house bought for the University of Nebraska president has been sold.
The University of Nebraska Foundation sold the house to an undisclosed buyer for $575,000. The foundation originally paid $750,000 for the house. In 2012 university leaders determined providing the home to the system president would help expand business interests by allowing the president to entertain guests. The foundation used private money to buy the house for then-president J.B. Milliken, but he never moved in before leaving to take a job in New York.
The Board of Regents urged the foundation to buy a different house for current president Hank Bounds. It bought a home on Firethorn Golf Club in Lincoln for $895,000.