The Real Estate Fairy Visits Chicago Politicians

John Kass reports on a magical happening in Chicago:

Who is the Real Estate Fairy?

Why, none other than Antoin "Tony" Rezko, the indicted one.

That's what I've been reading, first in the Chicago Tribune and then in the Sun Times. He doesn't visit taxpayers, just politicians.

The Tribune disclosed Rezko's curious real estate relationship with U.S. Sen. Barack Obama, the Chicago Democrat walking on water to the White House.

The Real Estate Fairy and Obama bought adjoining property. The Real Estate Fairy paid the asking price for his parcel; Obama paid less than the list for his and, presto, Obama had a home in Kenwood and a nice vacant lot next door.

Obama said that if he had to do it all over again, he wouldn't, since it didn't look right, perhaps because all of political Illinois knew that Rezko was by then toxic, infected with federal grandjuryitis.

And the other day, in the Sun-Times, the Real Estate Fairy struck again:

This one involves U.S. Rep. Luis Gutierrez, the Chicago Democrat who was a star in my column a few years ago for paying a measly $275 in yearly property taxes on a $340,000 home.

Gutierrez ended up forking over thousands of dollars in back taxes after those columns. He was so angry that for years, his tiny fists clenched whenever I approached.

According to the Sun-Times account, Rezko was developing a condominium project along the Chicago River. And Gutierrez bought in at what is called pre-construction prices, which means he made a killing.

Gutierrez bought the condo in 2003 for $434,900 and paid less than the other investors. He sold it three years later for $610,000. Gutierrez, who bravely decided not to challenge Mayor Richard Daley for re-election, says the Real Estate Fairy had nothing to do with anything.

"I walked in with my wife--as any other customer could have--and purchased the unit at the listed price, with no considerations," Gutierrez told the Sun-Times in language finely parsed.

Don't you love it when politicians who make decisions on tax increases insist they really want to be treated just like us peasants?

They want to pay full price. But for some strange reason, it doesn't work out that way. This is the Chicago Way, and much of it is mystical, known to few but the shy faerie folk.

Investigative reporters are much too dignified to give Rezko a catchy name like the Real Estate Fairy. Instead, they call him a political insider, who has given campaign cash to Gov. Rod "The Unreformer" Blagojevich, Obama, Gutierrez and others.

Rezko has been indicted in an alleged kickback scheme involving state pension fund investments and Republicans and Democrats, a massive federal investigation the FBI calls "Operation Board Games."

There's only one Chicago.