Lot Next to President Obama’s Chicago Home For Sale

President Barack Obama is getting new Chicago neighbors once again. Two and a half years after the home on the north side of the president’s permanent residence in Chicago’s Kenwood neighborhood sold, the vacant lot to the south of the Obamas has come on the market. The 50’ by 150’ lot, located at 5050 S. Greenwood Ave., has an asking price of $899,000. Anthony Rouches of Chicago real estate firm @properties is the listing agent.

According to Rouches, the sellers purchased the land in 2008 but they never moved forward with their plans to build a custom 8,000-plus-square-foot home. Architectural drawings of that home will be made available in the transaction, or buyers may choose to develop new plans. The lot is located within the Hyde Park-Kenwood Historic District, a Chicago landmark district.

The sellers are not the first Obama neighbors to list since the president took office. In April 2010, a 17-room, 6,000-square-foot home to the north of the Obama residence, sold for $1.4 million after real estate marketing projected the area as “The World’s Ultimate Gated Community.”

The moniker was a reference to the tight security around the South Side neighborhood. Secret Service and police details surround the president’s home at all times. Rouches noted that prospective buyers must submit financials as part of any showing request. They must also provide names of those who will be viewing the lot at least 24 hours prior to showings.

“It is the rarest of rare opportunities in real estate, the chance to live next door to the president of the United States,” said Rouches. “Plus, in this instance, buyers will have a blank slate to build their dream home. I suspect it is also probably the safest residential block in the free world.”

Hyde Park-Kenwood is located four miles south of downtown Chicago along the city’s lakefront and surrounding the University of Chicago. In addition to President Obama, the neighborhood has been home to many notable Americans over the years. More specifically, this list includes Muhammad Ali, Mahalia Jackson, Saul Bellow, Clarence Darrow and a number of Obama administration advisors, including Valerie Jarrett and Arne Duncan.

For more information, contact Anthony Rouches, 312-375-3320 or adr@atproperties.com.