CHICAGO - Barack and Michelle Obama's Chicago home purchase in 2005 has always been interesting, what with convicted felon Tony Rezko's wife being listed as the purchaser of a tract of vacant land next to the Obama's then-$1.65 million Kenwood mansion, the whole setup appears as such a strange coincidence. World Net Daily reports the Rezko-Obama property transfer arrangement could have been a part of something more sinister.
A property assessment company owner has been looking more into the Obama's land agreement and Rezko deal and found that there is no assessment on Cook County's property tax records and therefore, no taxation charged to the Obamas. WND writes:
The "buffer zone" parcel at the Obama family mansion in Chicago's upscale Kenwood neighborhood purchased by the wife of convicted felon Tony Rezko was transferred to Barack and Michelle Obama without ever being assessed or taxed, in apparent violation of Illinois law, according to a debt-collection expert.
"The Cook County assessor's office told me that there is no record of any tax assessment having been done on this transfer of the buffer zone property into a Northern Trust Co. Deed in Trust," Albert Hendershot told WND.
Hendershot noted that the records of the Cook County recorder of deeds' online records show that the buffer zone parcel was deeded by Rita Rezko to Northern Trust No 10209, a real estate investment trust. A trust was created for the Obamas to give them "a measure of privacy," then-Obama spokesman Bill Burton told the Times of London during the 2008 presidential campaign.
Records of the Obama trust established for the mansion have been made public here. However, Northern Trust No. 10209 is actually a bundle of a number of different properties, and the public documents do not explain the legal transfer processes by which the deed for the Obama mansion was bundled into Northern Trust No. 10209.