The high-magnification microlensing event MACHO-97-BLG-28 was previously determined to be a binary system composed of either two M dwarfs or an M dwarf and a brown dwarf. We present a revised light-curve model using additional data from the Mt. Stromlo 74'' telescope, model estimates of stellar limb darkening, and fitting of the blend separately for each telescope and passband. We find a lensing system with a larger mass ratio, q = 0.28 ± 0.01, and smaller projected separation, s = 0.61 ± 0.01, than those presented in the original study. We revise the estimate of the lens–source relative proper motion to μrel = 2.8 ± 0.5 mas yr−1, which indicates that 16.07 yr after the event maximum the lens and source should have separated by 46 ± 8 mas. We revise the radius of the source star using more recent reddening maps and angular diameter–color relations to R* = (10.3 ± 1.9) R⊙. K- and J-band adaptive optics images of the field taken at this epoch using the NIRC2 imager on the Keck telescope show that the source and lens are still blended, consistent with our light-curve model. With no statistically significant excess flux detection we constrain the mass, ML = 0.24+0.28-0.12 M☉, and distance, DL = 7.0 ± 1.0 kpc, of the lensing system. This supports the interpretation of this event as a stellar binary in the Galactic bulge. This lens mass gives a companion mass of M = 0.07+0.08-0.04 M☉, close to the boundary between being a star and a brown dwarf.