Obamas purchase their D.C. home for $8.1 million

By Ed Adamczyk  |  June 1, 2017 at 11:03 AM
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June 1 (UPI) -- Former President Barack Obama and former first lady Michelle Obama purchased their rented Washington home for $8.1 million, property records indicate.

They rented the eight-bedroom, nine-and-one-half bath in the capital's upscale Kalorama section from Inauguration Day until Wednesday, when the deed transfer occurred. The Obamas said they would remain in Washington as private citizens at least until their youngest daughter, Sasha, graduates from high school. She will begin her junior year at Sidwell Friends School in the fall.

"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," family spokesman Kevin Lewis said in confirming the purchase.

The Obamas will retain their home in Chicago's Hyde Park neighborhood.

Property records show that owner Joe Lockhart, press secretary during the Clinton administration, and his wife, Giovanna Gray Lockhart, sold the home for $8.1 million to Homefront Holdings LLC, a corporation controlled by the Obamas. Lockhart bought the home, built in 1921 and renovated in 2011, for $5.3 million in 2014.

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