President Obama's Home Vs. Mitt Romney's Home!
Happy Election Day America! On this historic day, what better way to vote on than vote on your favorite real estate properties owned by presidential candidate Mitt Romney and current President Barack Obama. My friends at Top Ten Real Estate Deals have brought us the inside scope on the Romney compound and Obama's digs. Check em' out and let me know which one you would prefer to call home!
Barack Obama's Chicago Home
Barack and Michelle Obama were living in a Chicago condo when they bought this Georgian Revival home in June, 2005 for $1.65 million. They made three offers on the home before their final offer - $300,000 under the asking price - was accepted. It is a designated historical home in Chicago's Hyde Park-Kenwood neighborhood. Obama's neighbors include more big homes, apartment buildings and the KAM Isiah Israel Synagogue (where the Secret Service agents guarding the President's home go to the bathroom). The University of Chicago (where Obama was a law professor) and Lake Michigan are nearby.
The Obama home was built in 1910 at three stories and over 6000 square feet (often referred to as a mansion) on a 10,500 square foot lot with 6 bedrooms, 5.5 bathrooms and a 4-car garage. Real estate agents would describe the home as handsome, classic and grand with red bricks and white pillars. Its 2005 home-for-sale description listed four fireplaces, Honduran mahogany glass-door bookcases, a granite kitchen floor and a 1,000-bottle wine cellar. A former resident's relative says there was also a third floor ballroom that may have been once used as a dance studio.
The original owner was A. R. Clarke, a Chicago builder and architect who lived here until 1919. The home then passed through several prominent Jewish families, but the Foreman family, who lived here during the Depression, lost it to foreclosure when the bank they owned went bankrupt in the 1930s. It was then used as a Jewish day school and cultural center in the 1940s, and was sold to the Hyde Park Lutheran Church for $35,000 in 1954. The home was later owned by University of Chicago husband and wife doctors when the Obamas purchased the home in 2005.
A similar home next door to the Obama house came up for sale in 2010 and was marketed by the real estate listing agency as "The World's Ultimate Gated Community" because of the high-level of security on the street. The home was advertised throughout the world in an effort to create a bidding war, which never happened. The home eventually sold for $1.4 million.
The Obama family lived here until Barack was inaugurated in January, 2009. Chicago tour guide Phil Clanton recently told the Pittsburgh Post-Gazette that he recalls seeing Mr. Obama mow his front lawn before he became President. Like many Americans, it appears the Obamas have seen their home value deteriorate. The home is estimated to be worth about $1.2 million some $450,000 less than they paid for it in 2005.
Mitt Romney's New Hampshire Home
The Romneys bought this 5,400-square-foot contemporary estate on 11 acres in Wolfeboro, New Hampshire in 1997 for $3 million. The home is on a secluded, private street with 800 feet of shoreline on Lake Winnipesaukee, New Hampshire's largest lake. It is three levels, 6 bedrooms with a 2,600 square-foot guest house, a 2,700 square-foot boat house, a beach volleyball court, beautiful lake views, and lots of trees - that are exactly the right height.
In addition to the Romney diggs, Wolfeboro is the home town for the elite Brewster Academy boarding school (average class size is 12, student-teacher ratio is 6:1) and high school athletic juggernaut (360 students with 14 sports programs including sailing and snowboarding) that has produced several national high school basketball championships and a number of NBA and college hoops stars. Ultimate frisbee, chamber orchestra and yoga are just a few of the extra activities available at the school. The academy's 20 dormitories have extensive views of both Lake Winnipesaukee and the Belknap Mountains. Other famous Wolfeboro summer visitors have included French President Nicolas Sarkozy, Monaco's Prince Rainier and Princess Grace, Drew Barrymore, Leonardo DiCaprio, Mike Krzyzewski and Jimmy Fallon.
According to local experts, Mitt's New Hampshire home is now worth about $10 million
In my book, both seem pretty nice. Do you have a favorite? I would honestly be happy with either homes. So don't forget, get out and vote today! It is your chance to make an impact on the future of our country!
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