Jerome R. Corsi, WND.com
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, president and owner of Innovative Portfolio Recovery Inc, a debt collection and skip tracing company based in Birmingham, Ala., noted the buffer zone “does not have an address attached to it, which is probably how the assessment and tax were avoided.”
Hendershot was the previously undisclosed source for the April 20 WND story “Why do 3 supporters own Obama’s home?”
He noted that the records of the Cook County recorder of deeds shows 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.
Exhibit 1: “Buffer zone” deed transfer by Rita Rezko to Northern Trust Co.
WND has confirmed with the assessor’s office that there is no record of a tax assessment on the parcel Rezko sold to the Obamas, and a search of the assessor’s database online using the property’s PIN produces no results, as seen below.
Hendershot explained that the buffer zone added 1,907 square feet to the Obama house lot, creating a total of 12,047 square feet for the lot containing the mansion, which is property identification number, or PIN, 20-11-115-037-0000.
“Even if the transaction were considered absorbing the buffer zone into the larger property that the Obamas bought,” Hendershot said, “that would have constituted two separate transactions for the same parcel – the transfer to the Obamas and the absorption of the buffer into the larger property – without a proper tax assessment being completed on the property in question.”