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LINCOLN, Neb. (AP) — The house bought for $750,000 for the University of Nebraska president has been sold for $575,000 after being on the market for more than a year.
The Lincoln Journal Star reports (http://bit.ly/1WFO6c4 ) that the sale to the undisclosed buyer closed Monday.
In 2012 university officials determined that providing a home to the system president would help expand system business interests by allowing the president to entertain guests.
The University of Nebraska Foundation has said it used private money to buy the house for President J.B. Milliken, but he never moved in before leaving for his new job in New York.
The Board of Regents urged the foundation to buy a different house for the new system president, Hank Bounds. The foundation bought a home on Firethorn Golf Club for $895,000.
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Information from: Lincoln Journal Star, http://www.journalstar.com
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