Monday, February 18, 2008

Obama Bought His Home With No Rezko `Discount,' Seller Affirms

Feb. 18 (Bloomberg) -- The couple who sold Barack Obama his Chicago home said the Illinois senator's $1.65 million bid ``was the best offer'' and they didn't cut their asking price because a campaign donor bought their adjacent land, according to e- mails between Obama's presidential campaign and the seller.

The Illinois senator has said he made a ``boneheaded'' move in involving contributor Antoin ``Tony'' Rezko, a Chicago businessman, in the purchase of the property on June 15, 2005.

Rezko's wife, Rita, also an Obama donor, bought the adjoining plot in Hyde Park from the couple, Fredric Wondisford and Sally Radovick, for the $625,000 asking price, the same day that Obama bought the house for $300,000 less than the asking price. Antoin Rezko was under federal investigation at the time.

Rezko was indicted on unrelated fraud charges 16 months later, in October 2006. Obama has since returned about $85,000 in campaign contributions made or raised by Rezko.

The sellers hadn't previously made their side of the story public out of concern for their privacy, according to Bill Burton, a spokesman for Obama's campaign. They approached Obama's Senate office 15 months ago and agreed to break their silence now through the campaign out of concern that the story was being distorted in the media, Burton said.

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