The Chilmark home rented by President Obama and his family for a 2013 family vacation sold June 1 for $15 million.
The home on Snail Road owned by David and Patty Schulte of Chicago and Chilmark had been on the market for several years. The buyer was Menemshovitz Realty Trust, represented by an attorney at Gibbons Law Firm in New York city.
Wallace and Co. Sotheby’s International had the listing, with Tom Wallace as principal broker. According to the online listing, the sale price did not include an additional purchase of furnishings and art for $2.35 million.
The contemporary style, 7,000-square-foot house sits of 9.5 acres of land with views of Chilmark Pond and the south shore beyond. The house was built in 2006 and includes a host of amenities, including a guest house, heated infinity pool, basketball court, and access to a private ocean beach.
The Schultes bought the property in 2000 and built a new home to replace an old camp. In 2015 Mr. Schulte told the Gazette that he and his wife decided to put the property up for sale because of changing family needs. The original asking price was $22.5 million.
In 2013 the Schultes rented the property to the Obama family for a 10-day summer vacation. Mr. Schulte was a long-time supporter of the president, but the family was initially reluctant to rent their home when Mr. Wallace, also the chief rental agent for the Obamas on the Vineyard, approached them with the idea.
“We harrumphed around a little; we had never rented the house,” Mr. Schulte said during the 2015 interview. “But then I said, well, he is the President for God’s sake, if he would like to use it, fine. I wanted to donate it, but that broke the rules; he had to pay a fair market rent. So that summer we left for two weeks and went to Chicago.”
Part of South Road was closed to traffic during the president’s visit because of security concerns. The closure was met with criticism from residents and local businesses.
The next year the Obama family rented a home down a long dirt road off North Road.
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