Here's tomorrow's giant front page story of
The Chicago Sun-Times:
It was a quick $4.6 million profit for Tony Rezko and his partners.
And it happened because Mayor Daley told them no.
The mayor wouldn't let Rezko, Dan Mahru and Ali Ata build townhomes at Addison and Kimball on Chicago's Northwest Side.
Rather than fight City Hall, Rezko and his partners sold the 10-acre site to Home Depot — represented by developer Michael Marchese, a friend of the mayor's.
Rezko and his partners paid $7.9 million for the vacant land in September 2001. Eleven months later, they sold it to Home Depot for $12.5 million — a 40 percent profit.
The sale infuriated neighbors who didn't want a busy store on the corner where an envelope factory had operated for decades.
Now, the deal is under federal investigation, a source familiar with the probe said. "There's a further case against Tony Rezko. It involves this property,'' the source said.
You'll want to read the whole article.You'll notice the heat is on.Is a future President Obama going to shut down this investigation of his close friends? Here's more on the Rezko-Obama-Daley network at work uncovered by Chicago Sun-Times reporter
Tim Novak:
For more than five weeks during the brutal winter of 1997, tenants shivered without heat in a government-subsidized apartment building on Chicago's South Side.
It was just four years after the landlords -- Antoin "Tony'' Rezko and his partner Daniel Mahru -- had rehabbed the 31-unit building in Englewood with a loan from Chicago taxpayers.
Rezko and Mahru couldn't find money to get the heat back on.
But their company, Rezmar Corp., did come up with $1,000 to give to the political campaign fund of Barack Obama, the newly elected state senator whose district included the unheated building.
Stylish.
