During his long career in public service, House Speaker Dennis Hastert has amassed a multimillion-dollar fortune through real estate holdings that belies the humble image of a former small-town high school wrestling coach.Who says you can't get rich going into politics?
He lives on a 127-acre homestead near Plano that includes farmland, a pond and woods, situated along a creek and adjacent to a private forest preserve. Based on the price Hastert received for a sale of adjoining undeveloped farmland in December, his land alone is now valued at more than $4.5 million. In all, Hastert's net worth has soared from no more than $290,000 to more than $6 million during his 19-year tenure on Capitol Hill that has seen him rise from the back benches of Congress to speaker of the House.
Hastert's accumulation of wealth through a series of land deals has been the subject of recent scrutiny since a private research group last month questioned his sale of land near a federally funded highway project that he championed. The transactions appear to comply with the law.
Thursday, July 06, 2006
Hastert's wealth is grounded in land
The Chicago Tribune reports: