Obamas reportedly find Vineyard home to rent for August vacation

The moment it was announced President Obama and his family would be returning to Martha’s Vineyard this summer for a vacation, there was only one question on the minds of islanders: Where will they stay? For the Martha’s Vineyard Times and Vineyard Gazette, it’s like a game of Where’s Waldo, and now it appears they have found him.

The White House isn’t saying a peep, and Tom Wallace of Wallace & Co. Sotheby’s International Realty, which has assisted in the president’s Vineyard vacation house hunt in years past, would only tell the Globe that no official decision has been made.


But both papers are reporting that the Obamas will stay in a private home off South Road in Chilmark that’s owned by summer resident David Schulte. The 5,000-square-foot home overlooks the ocean and Chilmark Pond and has a private master suite, outdoor shower, access to a gymnasium, and, according to Wallace, a “small’’ basketball court, which will please the president, no doubt.

The family is expected to be there for a week, from Aug.10-18, a busy time on the Vineyard, coinciding with the 152d Agricultural Fair and the Oak Bluffs fireworks show.

As for the homeowner who is reportedly lending his home, Schulte, according to the website of Chilmark Partners, is the founder of the Chicago-based corporate finance firm and managing general partner of its restructuring advisory services. A graduate of Williams College and Yale Law School, he clerked for US Supreme Court Justice Potter Stewart. (Stewart was appointed by President Eisenhower and served on the court from 1958-81.)

As for why the Obamas didn’t simply return to Blue Heron Farm in Chilmark, the compound they’ve rented during previous visits, the answer is simple: It was sold to British architect
Lord Norman Foster of Thames Bank in Great Britain in 2011 for $21.9 million.

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