The Obamas still own a Georgian-style home in the Hyde Park neighborhood on the South Side of Chicago, the city that will house the Obama presidential library.
Spokesman Kevin Lewis, in a statement, said the purchase just made sense for the family: “Given that President and Mrs. Obama will be in Washington for at least another two and a half years, it made sense for them to buy a home rather than continuing to rent property.”
A look inside the Obamas’ Kalorama home
D.C. records show that Lockhart sold the home for $8.1 million to Homefront Holdings LLC, which is controlled by the Obamas. The deed transfer was recorded on Wednesday. Lockhart bought the home in 2014 for $5.295 million, records show.
The $8.1 million purchase price makes the Obamas’ new home the second-most expensive in the Kalorama neighborhood, behind the $23 million that Jeffrey P. Bezos, the Amazon founder and owner of The Washington Post, paid for the former Textile Museum.
The Obamas have called the swanky Washington neighborhood (where neighbors include Ivanka Trump and Jared Kushner) their home, but it’s really functioned more like a home base for the globe-trotting family. The former first couple traveled to French Polynesia for an extended vacation after leaving the White House and also vacationed in Tuscany.