Sanity
Posts: 22039
Joined: 6/14/2006 From: Nampa, Idaho USA Status: offline
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Yeah. Just a cheap little bungalow... quote:
Soon after Democratic presidential nominee Barack Obama, the up-and-coming junior senator from Illinois, purchased his Georgian revival mansion on the South Side of Chicago, it set off alarms and suspicion of a shady deal. Why? In a real estate deal that is now called a “boneheaded move” by Obama, here is a timeline of what happened, leaning heavily on this thorough Q&A Obama did with the Chicago Sun-Times, - In June 2005, Obama and now-indicted political fundraiser Antoin “Tony” Rezko purchased adjoining parcels in the Kenwood neighborhood of Chicago. The parcels — one containing a house and the other undeveloped land — were owned by University of Chicago doctors Fredric Wondisford and Sally Radovick (husband and wife).
- Obama paid $1.65 million for his home ($300K less than the asking price of $1.95 million, but it was the Obama’s third and “best offer“) while Rezko paid $625,000 for the adjacent, undeveloped lot.
- Both closed on their properties on the same day.
- Obama wanted to increase the size of his side yard and in January 2006, Obama paid Rezko $104,500 for a strip of his land - about one-sixth of the parcel and costs one-sixth of the Rezko’s original purchase price of $625,000. (Here is an excellent bird’s-eye view of the Obama and Rezko properties and how they were divided).
- In 2006, Tony Rezko was indicted for fraud and was convicted in 2008.
- In 2007, Tony’s wife, Rita, sold the remaining lot for $575,000.
http://www.zillow.com/blog/barack-obamas-chicago-house/2008/09/
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Inside Every Liberal Is A Totalitarian Screaming To Get Out
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