DEERFIELD, Ill. — John Paxson was upstairs in his bedroom when he heard his sons Ryan and Drew scream. Moments later, they dragged him downstairs to watch the draft lottery.

The Bulls had just vaulted from the ninth pick into the top three, and what looked like a rather mundane drawing to Chicago's general manager took an interesting twist. Then, they hit the jackpot and wound up with the No. 1 pick despite a 1.7 percent chance Tuesday. That means they will likely choose between Derrick Rose or Michael Beasley, barring a knockout trade offer.

"I was kinda shocked," Paxson said today. "When I saw the third pick go, I was like, 'Oy.' If you get your hopes up, it's wasted energy."

And suddenly, after a dismal season, the Bulls' hopes are high again.

Expected to contend in the Eastern Conference after reaching the second round of the playoffs last season, Chicago plummeted, losing 49 games. Coach Scott Skiles got fired in December, and interim coach Jim Boylan lost his job after the season finale. But suddenly, luck seems to be smiling on the Bulls.

They hit a big jackpot this week, and Paxson hopes to strike again in a coaching search that is moving at a deliberate pace. Chicago was prepared to make Mike D'Antoni an offer, only to have him accept the New York Knicks' job before the Bulls made their presentation.

Now, Paxson has interviews this week with Tyrone Corbin, Dwane Casey, Jeff Hornacek, and Chuck Person, although he's in no hurry to make a decision.

"I think being patient right now, I've got nothing to lose," Paxson said. "I didn't want to jump right into something. I want to hear. I want to listen to philosophies. ... I'm not in a hurry. I don't feel a timeline is necessary."

He said having a coach in place before draft is not "a be-all, end-all" and pointed out that Seattle did not hire P.J. Carlesimo until early July, after drafting Kevin Durant with the second pick.

"In a perfect world, I'd love to have a coach in place," Paxson said.

Will the draft pick impact his decision on a coach?

"I'm not willing to go there right now," Paxson said. "I don't know if that will factor in."

This much is certain: The next coach will take a job that looks more attractive than it did when Paxson woke up on Tuesday.

The unselfishness and hard-nosed defense that defined Chicago disappeared last season. Several players had run-ins with coaches and skipped practices and shootarounds. Luol Deng and Ben Gordon turned down lucrative contract extensions and are restricted free agents after somewhat disappointing seasons. And for Paxson, a busy offseason just got a little more interesting.

Rose and Beasley are widely viewed as future stars, and both would fill major holes for the Bulls.

Drafting Rose, a Chicago product who carried Memphis to the national championship game, would give the Bulls a true point guard and allow Kirk Hinrich to move to shooting guard. That could also be a precursor to a trade that would relieve an already congested backcourt.

Beasley, the Kansas State forward who averaged 26.2 points and an NCAA-best 12.4 rebounds, would give the Bulls the inside force they've craved the past few seasons.

"These are two terrific young talents, there's no doubt about it," Paxson said. "They both offer totally different elements. One can impact the game without scoring. The other one can just flat out score the ball. It's a nice position to be in."

Paxson indicated Rose and Beasley are the only two players Chicago will work out for the No. 1 pick, perhaps an indication that he's not looking to trade down in the draft. And he said he feels no pressure to take Rose, the hometown product.

Paxson said he'll follow the example that Orlando and Portland set in recent years. Both teams took their time deciding which player to take with the top pick — the Magic choosing Dwight Howard over Emeka Okafor in 2004 and the Trail Blazers taking Greg Oden over Durant.

"The great thing right now for us is that the pool of people to consider at that spot is really narrow," Paxson said. "So we could really spend the time we need to spend to find out."