Barack Obama’s Post-Presidential ‘Palace’ In D.C.

President Barack Obama and his family have found their post-presidential residence in the nation’s capital – a posh pad in the upscale neighborhood of Kalorama, about two miles from the White House.

The home boasts 8,200 square feet and nine bedrooms, and an au pair suite for Mrs. Obama’s mother, who has been living with the family in the white House.

While the White House has made no official confirmation of this move, sources told Politico on Wednesday that the deal has been made.

Plans May Be For A Two-Year Lease

The Obamas have already stated that they have plans to remain in Washington until their younger daughter, Sasha, graduates from the exclusive Sidwell School in 2018. The older daughter, Malia, has just graduated from the Sidwell School and will be taking a gap year before entering Harvard in the fall of 2018.

It is assumed that Barack Obama and family will eventually return to their Chicago home, and is located in an area of that city that they love.

The New House

The Kalorama home is currently owned by Joseph Lockhart, who was a press secretary to then-President Bill Clinton in the 90s and who since then has owned his own consulting firm. He has moved to Manhattan, where he has taken a position as the Communications Director for the National Football League. His wife, Giovanna Lockhart, is an editor for Glamour Magazine, also located in New York City. The house in D.C. is currently vacant and has been “for rent” since their move.

Current real estate appraisals value the home at $6 million, and, according to some real estate websites, will rent for $22,000 a month – a hefty rent even for D.C.

When the home was purchased by the Lockharts in 2014, there were lots of photographs posted with the real estate listing, showing marble countertops, hardwood floors, large rooms, bedroom suites, and a backyard terrace.

The Neighborhood – Cocktails And Diplomats

The neighborhood justifies the rental amount, considering that it backs up to the famous Rock Creek Park, an area inhabited by foreign embassies. In fact, just down the street from the home are the Oman embassy and the residence of the European Union ambassador to the U.S. French ambassador, Gerard Araud, lives around the corner, and he is widely known for his lavish cocktail parties.

Tony Podesta, a Democratic lobbyist and long-time resident of the neighborhood, told CNBC the following.

“It’s a very quiet neighborhood; that’s part of the reasons why all of us like it there.”

Podesta, who fashions himself quite the pizza chef, often holds backyard neighborhood gatherings around his outdoor pizza oven.

Once the Secret Service gets set up to provide security for Barack Obama, residents are probably hoping that the neighborhood will be able to maintain that quiet.

Other Famous Neighborhood Residents

Many former presidents lived in this neighborhood after their White House years, including Woodrow Wilson, Howard Taft, Franklin Roosevelt, and Herbert Hoover. Ted Kennedy also lived there until his death.

Other residents are well-connected D.C. residents. The Obamas’ next door neighbor will be Bart Gordon, who was once a Congressman from Tennessee and now a partner in a local law firm. In speaking about his neighborhood and neighbor, he told CNBC the following.

“You can get almost any place in Washington that you want to go to in 15 minutes, but on the weekend, it’s like you’re in the country…He’ll be welcomed to the neighborhood; I just hope he doesn’t get too rowdy,” he joked.

A Step Down

While the new digs are clearly upscale, we wonder how Barack Obama will adjust to no movie theatre, bowling alley or basketball court. Perhaps he’ll find room on the quarter of an acre lot for at least a basketball goal and small space for some scrimmage games with his new neighbors.

[Photo by Andrew Harnik/AP Images]