Location: Chilmark, Mass.
Price: About $19 million
This 9½-acre estate is on Martha’s Vineyard, the popular island escape in the northeastern U.S. Perched 120 feet above sea level, the house has panoramic views of the Atlantic Ocean. Lush, green plants surround the home; a private road leads to the front of the house. “The location of the house offers tremendous privacy,” said listing agent Thomas Wallace of Wallace & Co. Sotheby’s International Realty.
The home belongs to David and Patricia Schulte, who purchased the property in 2000. “Nothing that you see on the property now existed at the time, except for some of the trees,” said Schulte, founder of the financial firm Chilmark Partners. The home went through a top-to-bottom renovation by architect Rick Sundberg from 2002 to 2005.
With 7,000 square feet of interior space, the main house includes four bedrooms, four full bathrooms and one half-bathroom. The detached guesthouse has two bedrooms and one bathroom, complete with indoor and outdoor showers. Amenities include tennis courts, a basketball court and an infinity-edge swimming pool. The property also includes three private beach lots accessible by boat.
Schulte, who lives in Chicago, is a supporter of President Obama, and, in August 2013, he rented the property as a vacation home to the Obamas through arrangements made by Wallace. “It was fascinating to rent this property to the First Family,” said Schulte. Schulte did not disclose the rental price, but said it was at “fair market rate.”
“Various changes were made to the house to accommodate security needs for the President’s stay,” Wallace said. “We are not at liberty to disclose the details, but they left a plug for a satellite monitoring system in the garage.” The White House did not respond to a request for comment.
The home hit the market in July for $22.5 million. The price was recently lowered to about $19 million. The owners are selling the property because most of their children live in Chicago or on the West Coast. “The home is underutilized,” Schulte said.
Agent: Thomas Wallace, Wallace & Co. Sotheby’s International Realty
Previously: Indoor-to-Outdoor California Living
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