Howdy, neighbor: Live next to Obama

By LINDSAY WELBERS
Staff Writer

The vacant lot next to the home owned by President Barack Obama is on the market.

The 50 foot by 150 foot lot, 5050 S. Greenwood Ave., directly to the south of Obama’s home, was listed recently through realtor @Properties with an asking price of $899,000.

The property had previously been owned by Rita Rezko, wife of now-convicted fraudster Tony Rezko. She purchased it in June 2005 on the same day that the Obamas purchased their home next door. Six months later Rita Rezko sold the Obamas a strip of land next to their home for $104,166.

In December 2006 she sold the property for $575,000 to an LLC who sold it in March 2008 to John and Marjorie Poulos. According to an @Properties press release the couple had plans to build an 8000 square foot home on the property, but “never moved forward with their plans.”

The architectural drawings are available to the property buyer.

Security is tight around the property. To show it the Secret Service needs to be given 24 hours notice.

The land is priced high compared to the rest of the neighborhood. In April 2010 the home directly to the north of the Obama’s property, a 17-room, 6,000 square foot single family home, sold for $1.4 million after being marketed as “The World’s Ultimate Gated Community,” a reference to the Secret Service presence.

l.welbers@hpherald.com