Tags: Jarrett | Chicago | property | values

Report: Jarrett’s Property Investment Jumps in Value

Wednesday, 22 Aug 2012 01:06 PM

By Martin Gould

President Barack Obama’s top political adviser, Valerie Jarrett, has made hundreds of thousands of dollars from a real estate deal at a time that property prices have slumped, it was reported Wednesday.

Jarrett, revealed in her 2011 financial disclosure documents that her 11 percent equity in a 46-story luxury apartment complex in Chicago is now worth between $1 million and $5 million. In 2010 she listed it as worth $250,000 reports the Washington Free Beacon.

The paper says the building, known as Kingsbury Plaza, is worth around $27.2 million according to Cook County records, but is assessed at only $6.8 million for tax purposes.

Jarrett has equity in the building through her work as president and CEO of Habitat, the company that developed Kingsbury Plaza, reports the Free Beacon. Habitat was founded by Daniel Levin, a major donor to Democratic causes.

Obama appointed Levin’s wife Fay Hartog Levin as ambassador to the Netherlands in 2009.


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