Somehow this crap keeps coming up at different sites.
It helps to have friends at City Hall. Among other positions, Michelle was appointed twice to sit on the board of the Commission of Chicago Landmarks for two consecutive terms. Michelle maintained this board seat from 1998 to March 2005, although normally a member only serves one 4 year term.
Flush from the success of Barack’s speech at the 2004 Democratic National Convention, the Obamas decided it was time to find a residence more fitting for their anticipated new status. Barack’s 1995 autobiography Dreams of My Father soared, and they knew Alan Keyes was no threat to their future success in the US Senate elections.
Sitting on the Commission of Chicago Landmarks board, Michelle knew of a permit, waiting for review and approval to sell, for a designated Historical Georgian revival home built in 1910 with four fireplaces, glass-door bookcases fashioned from Honduran mahogany, and a 1,000-bottle wine cellar owned by a doctor in Kenwood. The Commission is supported not only by donations and taxes but also by charges for permits. It’s a pretty extensive process, and they want a complete history of the house and property when a permit is requested. Once the Board approves a permit, the application goes to the city planning or zoning commission if more than a simple sale is involved.
The doctor who owned the Kenwood home wanted more than the Obamas could afford. As Barack has stated in numerous press interviews, buying the home would be a stretch. Barack contacted his patron Tony Rezko, despite knowing he was under investigation at the time, in order to see what could be done so the Obamas could afford their dream house. Sub-division was likely the agreed-on solution. In order to divide the lot, which the doctor purchased as one entity, he would have to:
There are several problems with this including that the properties were listed separately before they ever went on the market.
More than that, if one looks at the Recorder of Deeds records, one finds that the two lots were sold at the same time to the University of Chicago physician, but have two distinct property identifiers. I’m not listing those here because it makes finding the property a little too easy given the concerns over a Presidential candidate and his family’s safety. The lot in 2000 appears to have been sold for $414,00 and the house sold for $1.65 million which is as the reports in the Sun-Times and Trib have reported given that the owners wanted to sell the house for what they paid for it.
It also means that the selling price of $414,000 in 2000 indicates that $625,000 for the vacant lot 5 years later in that neighborhood is pretty reasonable.
The two lots have been sold together going back to at least 1985, though they were separate lots.
The person pushing this story is making it up wholecloth and needs to STFU.