Lauri Markkanen finished with 22 points and 10 rebounds, and Otto Porter Jr. added 20 points as Chicago won for the fourth time in its last five.
The teams were in a tight game through three quarters. Neither led by more than six points, and there were 14 ties and 18 lead changes at that point. Chicago carried a 75-74 advantage into the fourth.
Chicago grabbed its biggest lead at 93-85 when Markkanen scored inside near the 5-minute mark.
From there, the Bulls maintained leads of five to seven points until a four-point play by Conley tightened things at 103-100 with 1:20 remaining. But Memphis couldn’t overtake Chicago, as a 3-pointer at the horn by Valanciunas provided the final margin.
The teams went to the locker room at halftime tied at 46 — the 11th tie of the half to go with nine lead changes.
The Bulls’ six-point lead in the second quarter was the biggest either team could manage until the fourth. Both teams committed nine turnovers in the first half. Chicago ended up with 15 in the game, compared to 16 for Memphis.
Bulls: G Kris Dunn and F Porter both returned to the lineup after missing Monday’s loss to Milwaukee, Dunn with a migraine and Porter with a left shoulder strain. . Wayne Selden reached a career-high four steals in the first half. . The Chicago win marked the first time this season it has finished .500 for a month (5-5 in February). … Markkanen has led the Bulls in rebounds 12 of the last 14 games.
Bulls: Travel to Atlanta on Friday to face the Hawks.
Grizzlies: Face the Mavericks in Dallas on Saturday.