Package the picks and Chandler to hopefully get Garnett. Then sign Ben Wallace.
PG - Hinrich
SG - Gordon
SF - Deng
PF - Garnett
C - Wallace
That lineup is good enough to compete for the East next season.
BUT if they keep the pick, take whoever the Raptors don't or maybe trade down for Tyrus Thomas. Whoever the Bulls get will be an upgrade over what they already have.