Nov 1, 2006 7:11 pm US/Central
Obama And Rezko Linked In Real Estate Deals
Indicted Fundraiser Bought Vacant Lot Next To Senator's Home Last Year
by Derrick Blakley
CHICAGO (CBS) ―
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A view of Obama's home and Rezko's lot next door.
CBS
Questions are mounting tonight about real estate deals involving Senator Barack Obama and accused kickback artist Tony Rezko.
CBS 2's Derrick Blakley reports on the unique circumstances.
Sen. Obama and indicted political fundraiser Tony Rezko aren't only longtime acquaintances. They are also neighbors.
On the very same day last year that Obama purchased his gracious $1.6 million South Side home, Rezko's wife paid $625,000 for the 7,500 square foot vacant lot next door.
An Obama spokesperson confirmed that the senator lunches or dines with Rezko "once or twice a year," and that he may have mentioned the available lot to Rezko. But the spokesperson said Obama never suggested that Rezko buy it.
Later, Obama decided he wanted to fence off his property from Rezko's and balance his lot size. He asked Rezko to sell about one-sixth of his adjoining lot. Rezko agreed.
Rezko paid for the fence, because city law requires him to fence the lot.
Even though an appraiser valued the slice of land Rezko sold at $40,500, Obama decided it would be fair to pay Rezko substantially more: one sixth of his original purchase price, or $104,000.
Rezko, a top fundraiser for Gov. Blagojevich, is charged with plotting to squeeze kickbacks out of state contractors.
Obama's defenders say Rezko's quick purchase of the property next to Obama shows just how far he'll go to literally get next to public officials.
Rezko contributed thousands to Obama's state and federal campaigns.
Now that Rezko's under indictment Obama plans to divest more than $11,000 Rezko contributed to Obama's U.S. senate campaign.
(© MMVI, CBS Broadcasting Inc. All Rights Reserved.)
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